Bank Employees DA increased to 39.80% for Nov 2015 to Jan 2016

DA for Bank Employees : IBA issued orders for next quarter from Nov to Dec 2015

Indian Banks’ Association

HR & Industrial Relations

No.CIR/HR&IR/76/D/2015-16/1572

October 31, 2015

All Members of the Association
(Designated Officers)

Dear Sirs,
Dearness Allowance for Workmen and Officer Employees in banks for the months of November, December and January 2016 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June 2015 are as follows:-

July, 2015 – 6003.21
August, 2015 – 6026.04
September, 2015 – 6071.69

The average CPI of the above is 6033. Consequently, Dearness Allowance payable to employees is for 398 slabs for the period November, December 2015 and January 2016 i.e. an increase of 34 slabs over the current level.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of November, December 2015 and January 2016 shall be 39.80% of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers’ Service Regulations.

Yours faithfully,
sd/-
K.S.Chauhan
Senior Vice President

PS : The DA Payable under IXth Bipartite Settlement/Joint Note dated 27.04.2010, is @ [119.85% (6033-2836)=3197/4] i.e 799 slabs @ 0.15% per slab).

Authority : www.iba.org.in

2nd and 4th Saturday as Holidays in Banks w.e.f. 1st Sep, 2015: DFS Notification

Wage Negotiation between IBA Workmen Unions and Officers’ Association - 10th BPS - 2nd and 4th Saturday as Holidays, DFS Order and Notification

F.No.4/1l7/2015-IR

Government of India

Ministry of Finance

Department of Financial Services

Jeevan Deep, IIIrd Floor,

Parliament Street. New Delhi

Dated the August 20. 2015

To
1. Dy. Governor,
Reserve Bank of India.
Central Office,
Mumbai.

2. Chief Executive,
Indian Banks’ Association,
Mumbai.

Subject: Wage Negotiation between IBA Workmen Unions and Officers’ Association - 10th BPS - 2nd and 4th Saturday as Holidays

Sir,

I am directed to refer to IBA’s letter No. HR&IR/XBPS/3/975 dated 25th June, 2015 and RBI's letter No.DBR(Leg.)No.953/09.04.022/2015-16 dated 15.7.2015 on the subject cited above and to enclose herewith a copy of the Notification(in English and in Hindi) regarding declaring every second and fourth Saturday of every month as public holiday for banks in India with effect from 1st September, 2015.

2. RBI and IBA are requested to take necessary action accordingly.

3. This issues with the approval of Competent Authority.

Yours faithfully.

Encl. As above

(Manish Kumar)

Under Secretary to the Government of India

To be published in the Gazette of India, Extra ordinary, Part II, Section 3, Sub-section (II)

MINISTRY OF FINANCE

(DEPARTMENT OF FINANCIAL SERVICES)

NOTIFICATION

NEW DELHI, THE 20 AUGUST ,. 2015

S.0. - (E) In exercise of the powers conferred by section 25 of the Negotiable Instruments Act, 1881 (26 of 1881), the Central Government hereby declares the second and the fourth Saturday of every month as publlc holiday for banks In India, whether or not such banks are Included In the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), with effect from the 1st day September, 2015.

(F. No. 4/1/712015-IR]

sd/-

(Mohammad Mustafa)

Joint Secretary to the Government of India

To
The Manager,
Government of India Press,
Ring Road, Mayapuri,
New Delhi -1 10064.

Via: Staffnews.in