Dearness Allowance for Bank Employees and Officer from February 2023

February 01, 2023

Indian Banks' Association

HR & Industrial Rela tions

HR&IRlMBRl76/D/2023-24111709

February) I. 2023

All Members of the Association

(Designated Officers)

Dear Sirl Madam,

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April, 2023 under XI BPSI 8th Joint Note dated 11.11.2020

The confirmed All India Average Consumer Price Index umbers for Industrial Workers (Base

1960= I 00) for the quarter ended December 2022 a re as follows:-

October 2022 8710.36

November 2022 8710.36

December 2022 8697.22

The average CPI of the above is 8705 and accordingly the number of DA slabs are 588 (8705 - 6352= 2353/4= 588 Slabs). The last quarter) Payment of DA "as at 556 Slabs. Hence. there is an increase in DA slabs of '32' i.e. 588 Slabs for payment of DA for the quarter February, March & April. 2023 .

In terms of clause 7 of the II 'h Bipartite Settlement dated 11.11 .2020 and clause 3 of the Joint Note dated 11.11.2020. the rate of Dearness Allowance payable to Workmen and Officer employees for the months of February, March & April. 2023 shall be 41.16 % of . pay'. While arriving at dearness allowance payable. decimals from third place may please be ignored.

Yours faithfully,

Senior Advisor (HR&IR)