Friday, November 3, 2017

Dearness Allowance from November 2017 for Bank Employees - IBA ORDER

Increase of 38 slabs – IBA Dearness Allowance to Bank Employees from Nov 2017 to Jan 2018 

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended September 2017 are as follows:-
July 2017 – 6505.38
Aug 2017 – 6505.38
Sep 2017 – 6505.38
 The average CPI of the above is 6505 and accordingly the number of DA slabs are 516 (6505 – 4440= 2065/4= 516 Slabs) The last quarterly Payment of DA was at 478 Slabs. Hence there is an increase in DA slabs of 38, i.e 516 Slabs for payment of DA for the quarter Nov, Dec 2017 and January 2018.
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