The Dearness allowance to bank employees and dearness relief to bank pensioners is paid under the 11th bipartite settlement between bank unions and IBA (Indian Bank’s Association) signed on 11th November 2020. The settlement is effective from November 1, 2017. The dearness allowance is paid based on the Consumer Price Index (CPI) number published by the Labor Bureau of India.
Expected DA for Bank Employees from November 2023
The Dearness Allowance (DA) for bankers for the period from November 2023 shall be based on CPI(IW) numbers from July 2023 to September 2023. The latest
CPI(IW) data with the base year 2016 is as under.
|
Month |
AICPIN/CPI(IW) |
|
July 2023 |
139.70 |
|
August 2023 |
139.20 |
|
September 2023 |
137.50 |
Based on above, the DA to bank employees shall be payable for 693 DA
slabs as against the existing 632 DA slabs i.e. an increase of 61 DA slabs.
Based on the above, the Expected DA for bank employees from November 2023 is 48.51%. The existing DA
rate for the period of August 2023 to October 2023 is 44.24%. Hence there shall
be an increase of 4.27% in dearness allowance for the period from November 2023 to January 2024. The expected increase in salary at various scales is given
below.
(Note:
Please scroll down to check Expected Dearness Relief for bank pensioner )
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12thBipartite Wage Settlement Expected Salary Calculator
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How
much Pension Shall I get under NPS, if I Retire/Resign Today
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Expected increase in DA and salary at various scales
| Subordinate Staff | ||||
|---|---|---|---|---|
| Basic Pay | Existing DA | Expected DA | Increase in Other allowances | Increase in salary |
| 14500 | 6414.80 | 7033.95 | 127.16 | 746.31 |
| 15000 | 6636.00 | 7276.50 | 130.66 | 771.16 |
| 15500 | 6857.20 | 7519.05 | 134.16 | 796.01 |
| 16000 | 7078.40 | 7761.60 | 137.66 | 820.86 |
| 16500 | 7299.60 | 8004.15 | 141.17 | 845.72 |
| 17115 | 7571.68 | 8302.49 | 145.47 | 876.28 |
| 17730 | 7843.75 | 8600.82 | 149.78 | 906.85 |
| 18345 | 8115.83 | 8899.16 | 154.09 | 937.42 |
| 18960 | 8387.90 | 9197.50 | 158.39 | 967.99 |
| 19575 | 8659.98 | 9495.83 | 162.70 | 998.55 |
| 20315 | 8987.36 | 9854.81 | 167.88 | 1035.33 |
| 21055 | 9314.73 | 10213.78 | 173.06 | 1072.11 |
| 21795 | 9642.11 | 10572.75 | 178.25 | 1108.89 |
| 22535 | 9969.48 | 10931.73 | 183.43 | 1145.67 |
| 23405 | 10354.37 | 11353.77 | 189.52 | 1188.91 |
| 24275 | 10739.26 | 11775.80 | 195.61 | 1232.16 |
| 25145 | 11124.15 | 12197.84 | 201.71 | 1275.40 |
| 26145 | 11566.55 | 12682.94 | 208.71 | 1325.10 |
| 27145 | 12008.95 | 13168.04 | 215.71 | 1374.80 |
| 28145 | 12451.35 | 13653.14 | 222.71 | 1424.51 |
| 29145 | 12893.75 | 14138.24 | 229.72 | 1474.21 |
| 30145 | 13336.15 | 14623.34 | 236.72 | 1523.91 |
| 31145 | 13778.55 | 15108.44 | 243.72 | 1573.61 |
| 32145 | 14220.95 | 15593.54 | 250.73 | 1623.32 |
| 33145 | 14663.35 | 16078.64 | 257.73 | 1673.02 |
| 34145 | 15105.75 | 16563.74 | 264.73 | 1722.72 |
| 35145 | 15548.15 | 17048.84 | 271.73 | 1772.42 |
| 36145 | 15990.55 | 17533.94 | 278.74 | 1822.13 |
| 37145 | 16432.95 | 18019.04 | 285.74 | 1871.83 |
| Clerical Staff | ||||
|---|---|---|---|---|
| Basic Pay | Existing DA | Expected DA | Increase in Other allowances | Increase in salary |
| 17900 | 7918.96 | 8683.29 | 150.97 | 915.30 |
| 18900 | 8361.36 | 9168.39 | 157.97 | 965.00 |
| 19900 | 8803.76 | 9653.49 | 164.98 | 1014.71 |
| 20900 | 9246.16 | 10138.59 | 171.98 | 1064.41 |
| 22130 | 9790.31 | 10735.26 | 180.59 | 1125.54 |
| 23360 | 10334.46 | 11331.94 | 189.21 | 1186.68 |
| 24590 | 10878.62 | 11928.61 | 197.82 | 1247.81 |
| 26080 | 11537.79 | 12651.41 | 208.25 | 1321.87 |
| 27570 | 12196.97 | 13374.21 | 218.69 | 1395.93 |
| 29060 | 12856.14 | 14097.01 | 229.12 | 1469.98 |
| 30550 | 13515.32 | 14819.81 | 239.56 | 1544.04 |
| 32280 | 14280.67 | 15659.03 | 251.67 | 1630.03 |
| 34010 | 15046.02 | 16498.25 | 263.79 | 1716.01 |
| 35740 | 15811.38 | 17337.47 | 275.90 | 1802.00 |
| 37470 | 16576.73 | 18176.70 | 288.01 | 1887.98 |
| 39200 | 17342.08 | 19015.92 | 300.13 | 1973.97 |
| 40930 | 18107.43 | 19855.14 | 312.24 | 2059.96 |
| 42660 | 18872.78 | 20694.37 | 324.36 | 2145.94 |
| 45930 | 20319.43 | 22280.64 | 347.26 | 2308.47 |
| 47920 | 21199.81 | 23245.99 | 361.19 | 2407.38 |
| 49910 | 22080.18 | 24211.34 | 375.13 | 2506.29 |
| 51900 | 22960.56 | 25176.69 | 389.07 | 2605.20 |
| 53890 | 23840.94 | 26142.04 | 403.00 | 2704.10 |
| 55880 | 24721.31 | 27107.39 | 416.94 | 2803.01 |
| 57870 | 25601.69 | 28072.74 | 430.87 | 2901.92 |
| 59860 | 26482.06 | 29038.09 | 444.81 | 3000.83 |
| 61850 | 27362.44 | 30003.44 | 458.74 | 3099.74 |
| 63840 | 28242.82 | 30968.78 | 472.68 | 3198.65 |
| 65830 | 29123.19 | 31934.13 | 486.61 | 3297.56 |
| Officers | ||||
|---|---|---|---|---|
| Basic Pay | Existing DA | Expected DA | Increase in Other allowances | Increase in salary |
| 36000 | 15926.40 | 17463.60 | 277.72 | 1814.92 |
| 37490 | 16585.58 | 18186.40 | 288.15 | 1888.98 |
| 38980 | 17244.75 | 18909.20 | 298.59 | 1963.04 |
| 40470 | 17903.93 | 19632.00 | 309.02 | 2037.09 |
| 41960 | 18563.10 | 20354.80 | 319.46 | 2111.15 |
| 43450 | 19222.28 | 21077.60 | 329.89 | 2185.21 |
| 44940 | 19881.46 | 21800.39 | 340.33 | 2259.26 |
| 46430 | 20540.63 | 22523.19 | 350.76 | 2333.32 |
| 48170 | 21310.41 | 23367.27 | 362.94 | 2419.80 |
| 49910 | 22080.18 | 24211.34 | 375.13 | 2506.29 |
| 51900 | 22960.56 | 25176.69 | 389.07 | 2605.20 |
| 53890 | 23840.94 | 26142.04 | 403.00 | 2704.10 |
| 55880 | 24721.31 | 27107.39 | 416.94 | 2803.01 |
| 57870 | 25601.69 | 28072.74 | 430.87 | 2901.92 |
| 59860 | 26482.06 | 29038.09 | 444.81 | 3000.83 |
| 61850 | 27362.44 | 30003.44 | 458.74 | 3099.74 |
| 63840 | 28242.82 | 30968.78 | 472.68 | 3198.65 |
| 65830 | 29123.19 | 31934.13 | 486.61 | 3297.56 |
| 67820 | 30003.57 | 32899.48 | 500.55 | 3396.46 |
| 69810 | 30883.94 | 33864.83 | 514.49 | 3495.37 |
| 71800 | 31764.32 | 34830.18 | 528.42 | 3594.28 |
| 73790 | 32644.70 | 35795.53 | 542.36 | 3693.19 |
| 76010 | 33626.82 | 36872.45 | 557.90 | 3803.53 |
| 78230 | 34608.95 | 37949.37 | 573.45 | 3913.87 |
| 80450 | 35591.08 | 39026.30 | 589.00 | 4024.21 |
| 82670 | 36573.21 | 40103.22 | 604.54 | 4134.55 |
| 84890 | 37555.34 | 41180.14 | 620.09 | 4244.89 |
| 87390 | 38661.34 | 42392.89 | 637.59 | 4369.15 |
| 89890 | 39767.34 | 43605.64 | 655.10 | 4493.40 |
| 92390 | 40873.34 | 44818.39 | 672.61 | 4617.66 |
| 94890 | 41979.34 | 46031.14 | 690.12 | 4741.92 |
| 97620 | 43187.09 | 47355.46 | 709.23 | 4877.61 |
| 100350 | 44394.84 | 48679.79 | 728.35 | 5013.30 |
| 104240 | 46115.78 | 50566.82 | 755.59 | 5206.64 |
| 107210 | 47429.70 | 52007.57 | 776.39 | 5354.26 |
| 110180 | 48743.63 | 53448.32 | 797.19 | 5501.87 |
| 113150 | 50057.56 | 54889.07 | 817.99 | 5649.49 |
| 116120 | 51371.49 | 56329.81 | 838.79 | 5797.11 |
| 119340 | 52796.02 | 57891.83 | 861.33 | 5957.15 |
| 122560 | 54220.54 | 59453.86 | 883.88 | 6117.20 |
| 125780 | 55645.07 | 61015.88 | 906.43 | 6277.24 |
| 129000 | 57069.60 | 62577.90 | 928.98 | 6437.28 |
Dearness
Relief (DR) to bank pensioner from August 2023 to January 2024
The Dearness Relief (DR) to bank pensioners is revised twice a year on the basis of the CPI (IW) declared by the Labor Bureau of India. The latest CPI (IW) numbers released for the month of April 2023 and May 2023 & June 2023, by the Labor Bureau of India, are 134.20, 134.70 & 136.40 respectively. Based on same, there will be an increase of 44 DA slabs in dearness relief for bank pensioners for the period from August 2023 to January 2024.
The percentage increase in Dearness Relief for pensioner is as under:
| Pensioner Retired on or after 01.11.2017 | |||||||
|---|---|---|---|---|---|---|---|
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 632 | 588 | 44.24 | 41.16 | 44 | 3.08 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2012 to 31.10.2017 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1110 | 1066 | 111 | 106.6 | 44 | 4.4 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2007 to 31.10.2012 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1511 | 1467 | 226.65 | 220.05 | 44 | 6.6 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2002 to 31.10.2007 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1648 | 1604 | 296.64 | 288.72 | 44 | 7.92 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 |
Historical CPI
(IW) data as per Labour Bureau (Government of India) is as under
|
Month |
CPI(IW) |
|
January 2021 |
118.20 |
|
February 2021 |
119.00 |
|
March 2021 |
119.60 |
|
April 2021 |
120.10 |
|
May 2021 |
120.60 |
|
June 2021 |
121.70 |
|
July 2021 |
122.80 |
|
August 2021 |
123.00 |
|
September 2021 |
123.30 |
|
October 2021 |
124.90 |
|
November 2021 |
125.70 |
|
December 2021 |
125.40 |
|
January 2022 |
125.10 |
|
February 2022 |
125.00 |
|
March 2022 |
126.00 |
|
April 2022 |
127.70 |
|
May 2022 |
129.00 |
|
June 2022 |
129.20 |
July 2022 | 129.90 |
August 2022 | 130.20 |
September 2022 | 131.30 |
October 2022 | 132.50 |
Historical/Expected Increase in DA for Bankers is as detailed under
|
Period From |
Change (%) |
|
February 2021 to April 2021 |
2.31% |
|
May 2021 to July 2021 |
-(0.49)% |
|
August 2021 to October 2021 |
2.10% |
|
November 2021 to January 2022 |
2.59% |
|
February 2022 to April 2022 |
2.59% |
|
May 2022 to July 2022 |
0.07% |
|
August 2022 to October 2022 |
3.78% |
|
November 2022 to January 2023 |
2.10% |
|
February 2023 to April 2023 |
2.24% |
|
May 2023 to July 2023 |
0.56% |
|
August 2023 to October 2023 |
2.52% |
|
November 2023 to January 2024 |
(Yet to be declared) |
Expected
dearness allowance(DA) for bankers from November 2023 to January 2024 will be based on CPI(IW)
for Jul 2023, August 2023 & September 2023.
Dearness Allowance (Meaning): The dearness allowance is paid to
Government employees as well as pensioners to compensate them against the
impact of inflation. The extant of DA is dependent upon the inflation in the
economy. Today it is very difficult to survive without DA, given high
inflation rates. The Dearness Allowance is revised quarterly in the case
of Public Sector Bank Employees while it is revised half-yearly basis for
Central Government employees.
Disclaimer: The amount of increase/decrease
in Dearness Allowance as calculated above are estimates based on CPI(IW) data
published by the Labour Bureau, Government of India on monthly basis. The
calculator takes into account the uniform pay components only. The actual
amount may vary depending upon other pay components for certain employees like
PQP etc. Further, the actual DA payable shall be governed by official Indian
Banks Association(IBA) notification in this respect.
The
Link to IBA notifications in respect of Dearness allowance and other news
updates is given under “Sources"
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Mutual Fund
vs Smallcase
With increasing awareness about investing, the investors
encountered various investment options. Two of the best options for retail
investors are mutual funds and smallcase. If you want to understand the
difference between smallcase and mutual fund and which one is better, you may
refer to our detailed article:
-----------------
Sources
http://labourbureau.gov.in/LBO_indexes.htm
https://www.iba.org.in/iba/bankEmployee/BankEmployeeAction.do
 for Bankers from November 2023){kind=link}
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