Latest Bank Update

DA increase for Bankers from November 2024

November 04, 2024 Bankers, DA, News&Articles No comments

Today i.e. on 04.11.24 Govt declared CPI for the month of Sep'24 as 143.30 with an increase of 0.70 points from the previous month i.e. Aug'24. . Bankers DA calculator is updated hereunder on the basis of CPI for the month of Jul'24 to sep'24. Earlier the Govt vide their notification dated 22.10.20 (click to view the letter) 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 Jul'24 to Sep'24 DA payable for the period Nov'24 to Jan'25 is 19.84% as per 12th BPS.

Expected DA for Bankers from Nov-2024

October 03, 2024 Bankers, DA, News&Articles, Public sector banks No comments

Expected DA calculation updated today on 01.10.24 on the basis of CPI announced by the GOI for the month of Aug.'24 and with the assumptions of CPI for the month of Sep.'24 as mentioned hereunder.

The CPI for the month of August, 2024 announced today as 142.60 points decreased by 0.10 points only from 142.70 points in July, 2024.

1. On assumptions if there is a decrease of 0.50 points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.24% DA only and the total tentatively revised DA would be 19.44% from Nov.'24 in terms of 12th BPS.

2. On assumptions if there is no increase/decrease of any points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.40% DA only and the total tentatively revised DA would be 19.60% from Nov.'24 in terms of 12th BPS.

3. On assumptions if there is an increase of 0.50 points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.57% DA only and the total tentatively revised DA would be 19.77% from Nov.'24 in terms of 12th BPS.

DA increase for Bankers from Aug 2024

August 05, 2024 Bankers, DA, Employee, News&Articles No comments

Good news for bank employees! The Dearness Allowance (DA) has been increased for the period from August to October 2024. This adjustment aims to help employees cope with rising living costs. Keep reading to find out the new DA rates and how this change will affect your salary.

DA increased for Bankers from May-2024

June 07, 2024 Bankers, DA, News&Articles, Public sector banks No comments

The Dearness Allowance (DA) for Bank Officers, Clerical and Substaff has been increased as per 12th Bipartite Settlement. DA from May 2024 is as follows:

DA for bankers from February-2024

February 03, 2024 DA, News&Articles No comments

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.

Expected DA for Bankers from Feb-24

January 31, 2024 Bankers, DA, News&Articles No comments

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)

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.