DEARNESS ALLOWANCE TO BANK EMPLOYEES FOR THE MONTHS OF MAY, JUNE AND JULY 2013

Dearness Allowance to Bank Employees for the months of May, June and July 2013

Dearness Allowance for Workmen and Officer Employees in Banks for the months of May, June and July 2013 under IX BPS / Joint Note dated 27/04/2010

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/76/D/2013-14/7111

2nd May, 2013

All Members of the Association

(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June & July 2013 under IX BPS/Joint Note dt. 27.4.10

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960-100) for the quarter ended March 2013 are as follows:

January 2013  -  5044.52

February 2013  -  5090.18

March 2013      -  5113.00

Consequently, dearness allowance to employees is payable for 561 slabs for the period May, June & July 2013 i.e. an increase of 26 slabs over the current level.

In terms of clause 7 of the 9th Bipartite Settlement dated 27.04.2010 and clause 3 of the Joint Note dated 27.04.2010, the rate of dearness allowance payable to workmen and officer employees for the months of May, June & July 2013 shall be 84.15 % of pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowances to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,

sd/-

(Prabir Moulik)

Senior Advisor-HR&IR

Source: www.iba.org.in

[http://www.iba.org.in/upload/IXBPSJuly2013.pdf]