DA for Bank Employees from May 2024 to July 2024 – IBA ORDER
Indian Banks’ Association
HR & Industrial Relations
No.CIRJHR&IR/76/D/2024-25/1152
June 10, 2024
All Members of the Association (Designated Officers)
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2024 under XII BPS/ Joint Note dated 08.03.2024
The confirmed All India Average Consumer Price Index for Industrial Workers (Base 2016= 100) for the quarter ended March 2024 are as follows:-
| January 2024 | 138.9 |
| February 2024 | 139.2 |
| March 2024 | 138.9 |
The average CPI of the above is 139 and accordingly the number of points over 123.03 are 15.97 (139- 123.03) The last average quarterly CPI was 138.76. Hence, there is an increase of 0.24 points for May. June & July 2024.
In terms of clause 13 of the 12111 Bipartite Settlement dated 08.03.2024 and clause 2 (i) of the Joint Note dated 08.03.2024, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June & July 2024 shall be 15.97 % of ‘pay’ (0.01 % change in DA on ‘pay’ for change in every second decimal place of CPI 2016 over 123.03 points)
Yours faithfully,
Brajeshwar Sharma
Senior Advisor (HR&IR)
