DA for Bank Employees from Aug 2023 to Oct 2023
Bank DA Rate from August 2023 to October 2023 at 44.24% for Workmen and Officer Employees
The rate of Dearness Allowance payable to Workmen and Officer employees for the months of August, September and October, 2023 shall be 44.24% of ‘pay’.
Indian Banks’ Association
HR & Industrial Relations
August 2, 2023
All Members of the Association
Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of August, September, October 2023 under XI BPS/ 8th Joint Note dated 11.11.2020
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2023 are as follows:-
The average CPI of the above is 8881 and accordingly the number of DA slabs are 632 (8881-6352= 2529/4= 632 Slabs). The last quarterly Payment of DA was at 596 Slabs. Hence, there is an increase in DA slabs of ‘36’ i.e. 632 Slabs for payment of DA for the months August, September and October, 2023.
In terms of clause 7 of the 11th 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 August, September and October, 2023 shall be 44.24% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.
Senior Advisor (HR&IR)