DA for bankers from February-2024


To calculate Bankers Dearness Allowance for the month of February 2024, we need know about CPI (Consumer Price Index) for the month October 2023, November 2023 and December 2023. We get this CPI index subsequent month.


October  2023 CPI index we get on 30th  November 2023 and November 2023 CPI index we get on 31st  December 2023 and December 2023 CPI index we receive on 31st January 2024.


This CPI index always we get one month late.


In last year February 2023 CPI Index increased on an 2.24 percent. On this basis we can expect for the month of October 2023 and November 2023 and December 2023 expected CPI Index will be.


October 2023 CPI Index will be 138.40 November 2023 CPI Index will be 139.10 December 2023 CPI Index will be 138.80.


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Expected DA for Bankers from Feb-24


Expected DA Calculation Updated on 29.12.23 on the basis of CPI for the month of Nov'23 with the assumptions of CPI for the next month as mentioned hereunder. The CPI for the month of Oct'23 announced today as 139.10 (as per revised base year 2016) (The base year was changed from Oct 2020)


To calculate Bankers Dearness Allowance for the month of February 2024, we need know about CPI (Consumer Price Index) for the month October 2023, November 2023 and December 2023. We get this CPI index subsequent month.


October  2023 CPI index we get on 30th  November 2023 and November 2023 CPI index we get on 31st  December 2023 and December 2023 CPI index we receive on 31st January 2024.


This CPI index always we get one month late.


In last year February 2023 CPI Index increased on an 2.24 percent. On this basis we can expect for the month of October 2023 and November 2023 and December 2023 expected CPI Index will be.


October 2023 CPI Index will be 138.40 November 2023 CPI Index will be 139.10 December 2023 CPI Index will be 138.80.


Now we need to add October 2023 to December 2023 CPI Index figures


=138.40+139.10+138.80/ 3 =416.30/3 =138.77 (Average)


Now we need to multiply this figure to Base Year table.


=138.77*2.88*4.93*4.63 =9122.33 =9122/-


We need to subtract from 6352.


Its is because in 11 BPS 6352 points merged in the


DA. =9122-6352 =2770/- (Remaining points left)


Now we need to covert this points to slabs.

To cover this points to slabs we need divide it from 4. =2770/4 =692.50 Slabs

Now we need to convert these slabs to percentage.  


Its because DA calculated in percentage.


To convert this into percentage we need to multiply with 0.07.


It is because according to 11 BPS 1 slab is equal to 0.07 =693*0.07 =48.51 %.


Check DA for bankers from November-2023

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Expected DA for Bank Employees from August 2023



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.



The Dearness Allowance (DA) for bankers for the period from August 2023 shall be based on CPI(IW) numbers from April 2023 to June 2023. The latest CPI(IW) data with the base year 2016 is as under.


Month            AICPIN/CPI(IW)

April 2023       134.20

May 2023        134.70

June 2023         yet to be declared 


If CPI(IW) remains at the same level during June 2023 as in May 2023, the DA to bank employees shall be payable for 623 DA slabs as against the existing 596 DA slabs i.e. an increase of 27 DA slabs.


Hence, the Expected DA for bank employees from August 2023 is 43.61%. The existing DA rate for the period of May 2023 to July 2023 is 41.72%. Hence there shall be an increase of 1.89% in dearness allowance for the period from August 2023 to October 2023.



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DA increased for Bankers from Nov 2022


DA for Bankers has increased for the quarter November 2022 to January 2022.

CPI data for the month of July, August and September 2022 has been released, which is as under:

July 2022129.90
August 2022130.20
September 2022131.30
 DA for bank employees is linked to CPI data. Based on the CPI data for last 3 months (July 2022 to September 2022), DA payable to bankers will be 556 slabs for the quarter Nov 22 to Jan 23. This is 30 slabs from the previous quarter, which was 526.

As such, the Dearness Allowance for bankers will be 38.92% from the next quarter starting from November 2022. DA for the last quarter was 36.82%. Accordingly, there is an increase of 2.10% in the DA for the upcoming quarter.



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DA increased for bankers & bank pensioners from August-2022


The Dearness Allowance of Bank employees announced quarterly based on All India Consumer Price Index Numbers (AICPIN) and effective from February, May, August and November months of every year.

Bank employee Dearness Allowance in salary is a calculation of allowance paid to employees based on their work scale to compensate for the inflation, and this is calculated from a percentage of basic salary to mitigate the inflation on people.


As per current updates, the new total Dearness Allowance for Bank employees is 36.8% which calculated on the basis of Bank employee basic salary, wherein this quarter, the DA for public sector bank employees do hold an expecting increase by 3.76% Dearness Allowance in their salary from Aug 22 to October 2022 which increase their total salary.


Let’s check the Dearness Allowance for workmen and officer employees in public sector banks and some private banks are considered as per the below DA rate.


The allowance added in the salary is apart from basic salary and it is calculated on a defined percentage, where every bank has their pay grade defined for employees based on their location and type of work they are assigned.


Thus this increases the basic salary and the Dearness Allowance is a percentage from basic salary, and anyone who has got a higher basic salary will surely have a higher slab of Dearness Allowance, which does give them a good total NET salary.


This part of the salary is always increased and in Banks, it is estimated to have an increase in DA for every one year based on their performance, and we can update the new DA rates of bank employees for the next quarter from November 2022 after announcing price index numbers from July to Sep 2022.







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Expected DA for bank employees from August-2022

  


The Dearness allowance to bank employees 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.


The Dearness Allowance (DA) for bankers for the period from August 2022 shall be based on CPI(IW) numbers from April 2022 to June 2022. The latest CPI(IW) data with the base year 2016 is as under.

April 2022- 127.70

May 2022- 129

June 2022- to be declared


If CPI (IW) remains at the same level during June 2022 as in May 2022, the DA to bank employees shall be payable for 525 DA slabs as against the existing 472 DA slabs i.e. an increase of 53 DA slabs.


Based on the above, the Expected DA from August 2022 is 36.75%. The existing DA rate for the period of May 2022 to July 2022 is 33.04% Hence there shall be an increase of 3.71% in dearness allowance for the period from August 2022 to October 2022.

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Expected DA for Bank Employees from Feb 2022


The Dearness Allowance of Bank employees announced quarterly based on All India Consumer Price Index Numbers (AICPIN) and effective from February, May, August and November months of every year.


Bank employee Dearness Allowance in salary is a calculation of allowance paid to employees based on their work scale to compensate for the inflation, and this is calculated from a percentage of basic salary to mitigate the inflation on people.


As per current updates, the new total Dearness Allowance for Bank employees is 33.25% (Expecting) which calculated on the basis of Bank employee basic salary, wherein this quarter, the DA for public sector bank employees do hold an expecting increase by 2.87%(Expecting) Dearness Allowance in their salary from February 22 to May 2022 which decrease their total salary.


The allowance added in the salary is apart from basic salary and it is calculated on a defined percentage, where every bank has their pay grade defined for employees based on their location and type of work they are assigned.


Thus this increases the basic salary and the Dearness Allowance is a percentage from basic salary, and anyone who has got a higher basic salary will surely have a higher slab of Dearness Allowance, which does give them a good total NET salary.

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DA increased for PSU Bankers from Feb-2021

 


Today i.e. on 29.01.21 CPI for the month of Dec'20 announced with decrease of 1.10 points from Nov'20 as per base year 2016 and 3.16 points of base year 2001. Earlier Govt vide their notification dated 22.10.20 has changed the Consumer Price base year from 2001=100 to 2016=100 for Industrial Workers.

On the basis of CPI data announced by the Govt for the months of Oct'20 to Dec'20 the percentage of increase in DA is 33 slabs. In terms 11 th BPS the revised DA slabs would become payable from Feb'21 is 374 slabs i.e. total percentage of DA payable would become payable on revised pay = 26.18%.

This website do not claim its calculation of DA slabs would may become payable as full and final as IBA circular of DA release is awaited and this calculator shall be updated accordingly.




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Expected DA for Bank Employees from Nov 2020


Expected DA Calculation Updated on 30.09.2020 on the basis of CPI for the month of Aug'20 announced on 30.09.20 as 7715.15 (increase of Two points in CPI) & available CPI data for the month of July'20 with assumptions of CPI for the month of Sep'20 as under:-

Also Read :- Know how DA is calculated for Bankers

  1. On assumptions if there is an increase of four points of CPI in the month of Sep'20, keeping in view of recent huge rise in prices of vegetables etc. and also regular increase in fuel prices. In this situation the expected (tentatively) increase in DA Slabs would be 48 slabs and the total tentatively revised DA slabs would be 823 i.e. 82.30%.
  2. On assumptions if there is an increase of three points of CPI in the month Sep'20. In this situation the expected (tentatively) increase in DA Slabs would come to 46 slabs and the total tentatively revised DA slabs would be 821 i.e. 82.10%.
  3. On assumptions if there an increase of two point in CPI in the month Sep'20. in this situation the expected (tentatively) increase in DA Slabs would come to 44 slabs and the total tentatively revised DA slabs would be 819 i.e. 81.90%.
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  Useful links for Bankers
   * Latest DA Updates
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   * Latest 12th BPS Updates
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   * Balance Inquiry Number of all Banks
   * PSU & Private Banks Quarterly result
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