Wednesday, April 30, 2014

Bank D.A. for May/June/July 2014 : Decrease of 16 slabs

  AICPIN(IW)Base year 2001=100 for the month of March’14,has been released by Ministry of Labour and Employment today which stood at239 points with an increase of 1 point while compared to figure of February. 

Accordingly  the confirmed All India Average consumer Price Index Numbers for Industrial Workers(Base 1960=100) for the quarter ended March ’14 are as furnished here under:-

Months                Base 2000=100       Base 1960=100
___________     _____________       _______________
January’14            237                         5409.74
February               238                         5432.56
March                   239                         5455.39                              
Average                                               5432
As such the DA payable for Bank Workmen/Officers for the months of May,June and July’14 would be for 650 slabs at 97.50% with a decrease of 2.40% from existing DA rate of 99.90%.(ie: 17  slabs decrease.)
The downward fall of average AICPIN is the first time after year 2006.
For official confirmation please wait for IBA circular.

Details for information:

Average Index                                                5432

Less Merged points in 9th BPS                        2836
Slabs                                                              650
   (666-650)                          16 slabs
Rate of DA                                                   97.50%    
** The calculation had some error earlier, now corrected.    
Thanks to Mr Mohan P for the calculation                     

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