As announced by the Labour Bureau of the Government today (31.01.2018), the average index numbers for October ‘17 to December ‘17 works out Bank employees and Officers DA Chart for Feb ’18 to Apr ‘18to 6551.01. It means 12 slabs (1.20% ) increase in DA for the ensuing quarter February 2018 to April 2018, over the previous quarter.
This means 52.80 % DA for the quarter February 2018 to April 2018 on ‘pay’ (which includes allowances eligible for DA) @ the rate of 0.10% per slab. The above increase in DA rate is applicable to all the serving staff of banks viz. Officers, clerical and sub-staff.
The current rate of DA is calculated on the basis of average index numbers of preceiding quarter. For example, DA for the months of August, September and October is worked out on the basis of CPI(IW) of April,May and June for serving staff. For the pensioners same rate of DA is applied for 6 months (i.e from August to Janaury).The Consumer Price Index Numbers for Industrial Workers is released on the last working day of the succeeding month. For example CPI(IW) of June is released by Ministry of Labours on 31st July.