CPI for Industrial Workers (CPI-IW) for March 2018 and Bank D.A. calculation from May'18 onwards

The all India Consumer Price Index for March 2018 released yesterday It remained unchanged at the point of 287. 

As we have predicted the D.A. for Bank employees from May'18 to July'18 will be marginally hiked if the Index number remains unchanged from it's February level.
In this situation the increase in DA Slabs would come to 3 slabs.( revised DA slabs would be 530 i.e. 53.00% ) for the next three months.
View IBA Circular dated 2.5.2018

Jammu and Kashmir notifies 30% Interim Relief to Subordinate Judicial Services

The Government today sanctioned release of Interim Relief @ 30% of Basic Pay/ Basic Pension (including family pension) of the members of the Jammu & Kashmir Subordinate Judicial Services & Pensioners of the Jammu & Kashmir Subordinate Judicial Services (including family pensioners) with effect from 01.01.2016.

“Pending notification of final award by the Second National Judicial Pay Commission on account of revision of the pay of the Members of Subordinate Judicial Services, sanction is accorded to the release of Interim Relief @ 30% of Basic Pay/ Basic Pension (including family pension) as recommended by the Commission in respect of the members of the Jammu & Kashmir Subordinate Judicial Services & Pensioners of the Jammu & Kashmir Subordinate Judicial Services (including family pensioners) with effect from 01.01.2016,” said an order issued by the Principal Secretary Finance, MrNavin Kumar Choudhary.

Source : Greater Kashmir

Second and fourth Saturdays declared as holiday for LIC

In line with banks, LIC employees to get every second and fourth Saturdays as holiday. Notification in this regard has been published by Govt. of India and Dept. of Financial Services issued order in this regard.

 
Click here for order and gazette notification

Jammu and Kashmir notifies SRO 193 for implementation of Revised pay Rules 2018

VIEW CLARIFICATION ON CERTAIN DOUBTS (27/04/18)
Subsequent to cabinet nod for pay revision of state Govt employees and pensioners, Finance Ministry issued order for implementation of Revised Pay Rules 2018 by SRO 193.
The pay hike will be effected from 01.01.2016.
Arrears will be credited in the GPF.

"a) Arrears of all the employees including those appointed on or after 01.01.2010 governed under New Pension Scheme on account of revision of pay scales shall be drawn and credited to their G.P Fund accounts with moratorium of three years for withdrawal thereof. 
b) There will be no moratorium for withdrawal of arrears in respect of employees retiring upto 31.03.2021."
For pensioners arrears will be disbursed as under :
Installment Date of withdrawal
 1st installment on or after 01.10.2018;
 2nd installment on or after 01.04.2019; 
 3rd installment on or after 01.10.2019. 
HRA will be admissible @24%, 16% and 8% respectively and will be effected from 01.04.2018. From 01.01.2016 to 31.03.2018, it will be paid as per existing rate. So no arrears for HRA.
SRO 193 for Revised Pay Rules 2018
Revised Rate of D.A.
Revised Rate of D.A. for pensioners
Notification regarding HRA
Roadmap for payment of arrears
Roadmap for arrears payment to pensioners
Pension structure for pre 2016 retirees

Odisha hikes Dearness Allowance

 The Odisha government on Tuesday hiked the dearness allowance (DA) for state government employees by two per cent. 

The hike will be implemented with retrospective effect from January 1, 2018, said a statement from the Chief Minister's Office (CMO).

Chief Minister Naveen Patnaik had approved a proposal to implement the hike.

With the two per cent hike, the total increase is now seven per cent.

The state government also hiked Dearness Relief (TI) for the pensioners.

The pensioners drawing a pension at the pre-revised rate will get a hiked TI of two per cent.

The pensioners drawing pension not at a pre-revised rate will get an additional TI of three per cent, the statement added.