DA for Bank Employees from November 2017 to January 2018 is expected to increase by 3.80 %
Consumer Price Index (CPI) for the month of July 2017 has been published by Labour Bureau, which is 285 and if CPI for the next two months i.e., August 2017 and September 2017 remains same at the same level (285) as that for the month of July 2017, DA slabs for the next quarter, November 2017 to January 2018 will be 516 i.e., 51.60 %. That means, bankers’ DA from November 2017 is expected to increase by 3.80% from the present quarter (which is 47.80%). Dearness Allowance for bankers had declined consecutively for previous two quarter before the same increased by 2.20% during the quarter Aug-Oct 17.
CPI for the month of July 2017 is 285 Converting the CPI by multiplying with conversion factor (4.63 x 4.93) , it works out to 6505.38 (average will be same assuming that CPI will remain constant).
By deducting 4440 slabs (which were merged in basic pay in 10th bipartite settlement), works out to 516.35 for the quarter (rounded off to 516).
We’ll update the change in Dearness Allowance for November 2017 to January 2018, next month on the release of CPI data for the month of August 2017.