Bank employees get 15.67% DA hike for May-July, await 5-day workweek nod
New Delhi, June 11, 2024.The dearness allowance (DA) for bank employees has been hiked to 15.67% for the months of May, June, and July as per the notification from the Indian Bank's Association (IBA), on Monday."In terms of clause 13 of the 12th Bipartite Settlement dated 08.03.2024 and clause 2 (i) of the Joint Note dated 08.03.2024, the rate of Dearness Allowance payable to Workmen and Officer employees for the months of May, June & July 2024 shall be 15.97% ‘of ‘pay’ (0.01 % change in DA on ‘pay’ for change in every second decimal place of CPI 2016 over 123.03 points)," said the notification.The average CPI for this quarter is calculated as 139. Taking into account the base value of 123.03, the difference in points amounts to 15.97 (139 - 123.03).Compared to the prev...
