DA Bank ( Dearness Allownce As per IBA circular) for workmen and officer Employees in banks for the month of November, December 2019 and January 2020 has been decided.
All india average CPI (consumer price index) for the months of July to September 2019 was 7311.
On the basis of CPI data average index number works out to 7311 (base 1960=100).
It means total 717 slabs DA on basic and special allowances for the bank staff. The last quarterly payment of DA was at 681 Slabs.
Hence there is an increase in DA slabs of 36 slabs. (DA increase 3.6%)
That Means for the period of November 2019 to February 2020, Bank staff is eligible for 71.70% DA which means 36 slabs( 3.6%) increase over the previous quarter.
The rate of Dearness Allowance payable to staff and officers for the months of Nov, Dec 2019 and January 2020 shall be 71.7 % of ‘Basic pay’.
While arriving at dearness allowance payable, decimals from third place may please be ignored.