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DA Hike: Increase of only 2%, dearness allowance of these employees increased for three months, order issued

DA Hike: Dearness Allowance (DA) has been released for the bankers for the period August to October 2023. It has been released on the basis of CPI (IW) numbers from April 2023 to June 2023.

DA Hike: Central government employees are waiting for DA hike. But, in the meantime, Dearness Allowance has been announced for the bank employees. There has been a slight increase of 2 percent in the dearness allowance of bank employees. Let us tell you, the payment of dearness allowance to bank employees and dearness relief to bank pensioners is done under the 11th bipartite settlement between the Bank Union and the Indian Bank Association (IBA) on 11 November 2020. Dearness allowance is decided on the basis of the Consumer Price Index (CPI) number issued by the Labor Bureau of India.

Dearness Allowance (DA) has been released for bankers for the period August to October 2023. It has been released on the basis of CPI (IW) numbers from April 2023 to June 2023. It was decided on the basis of CPI (IW) data with base year 2016.

36 DA Slab boomed

As per the above numbers, the bank employees will be given 632 DA Slab as against the existing 596 DA Slab. Means a total of 36 DA Slab’s boom has come in it. In such a situation, the rate for bank employees from August to October has become 44.24 percent. From May to July 2023, DA was being paid at 41.72 per cent. In such a situation, there has been a jump of 2.52 percent in total.

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