Dearness Relief from Feb 2023 to July 2023 to Bank Pensioners, IBA Circular

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2023-24/11710
February 1, 2023

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sir/Madam,

Dearness Relief payable to Pensioners for the period February 2023 to July 2023

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2022 are as follows:-

October 2022 – 8710.36
November 2022- 8710.36
December 2022 – 8697.22

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period February 2023 to July 2023 as per Annexure.

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HIR&IR)