AICPIN for August 2023 and expected Bank D.A. for next quarter

 ALL INDIA CONSUMER PRICE INDEX NUMBER FOR INDUSTRIAL WORKERS (AICPIN-IW) 2016=100,FOR AUGUST’23.

As per release made by Labour Bureau, Ministry of Labour and Employment,Govt. of India,today the All India Consumer Price Index Numbers,for industrial workers,for August 2023  (AICPIN-IW) 2016 = 100  stood at 139.2 points, with  a decrease of 0.5 points,compared to July'23 figures as  follows:

Base year 2016=100.  1960=100.  

July'23   139.7.                    9183.68

Aug’23.   139.2.                    9150.81

Based on above two months' CPI figures and if current level is continued for Aug'23 too,  DA payable to  serving Bank employees may be expected to  have 70 slabs increase for next quarter.

As we know, for  pensioners, next half yearly DR may be arrived based on CPI numbers for Oct,Nov & Dec'23

Bank bipartite update

 Two rounds of meeting were held, one among Bank union themselves on 30th August 2023 and one between Indian Bank Association(IBA) with Bank Unions on 31st August 2023.

All bankers were eagerly waiting for some positive news from the outcome of IBA Meeting with Union. It was expected that there should be some updates on 5 Days Banking a week & most importantly tentative date of 12th Bipartite Settlement i.e. wage revision of Bank employees.

Indian Bank Association has agreed for 12th Bipartite Settlement effective from 1st November 2022 for next five years. Outcome of IBA meeting is shared by CH Venkatachalam, General Secretary-AIBEA on social media X (Formerly known as Twitter). Further he also stated that It was also agreed that DA up to 8088 points of price index would be merged with basic pay. Apart from this other issue were also discussed which will be shared through circular.

Outcome of IBA meeting on Bipartite Settlement Dt. 12.09.2023 & 13.09.2023: Much awaited meeting of Bank Union with Indian Bank Association (IBA) held on 12th September 2023 & 13th September 2023. On both the day of the meeting i.e. 12th & 13th September, major issues which required immediate attention of IBA has not been discussed and no relevant information shared with the bankers.

A detailed circular was issued by the Bank union (UFBU & AIBEA) where it seems lots of points were discussed but important burring points for which bankers are waiting have be left unattended. Any meeting related to Bipartite settlement should contain points related to wage revision. Already Bank employees were waiting from 1st November 2022 for their wage revision. Charter of demands were already presented to IBA which includes 5 Days banking a week also.

Detailed Circular