The Indian Bank Association (IBA) on February 07, 2024, issued a notification regarding the Dearness Relief payable to Pensioners for the period February 2024 to July 2024
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960-100) for the quarter ended December 2023, the average CPI is 9122.33.
In terms of Regulation 37 of Bank Employees' Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II attached to the document to the Regulations.
Pending amendments to Pension Regulations, Banks may pay on an ad hoc basis, the Dearness Relief payable to pensioners for the period February 2024 to July 2024 as per the Annexure attached to the document.
[Notification No. No.CIR/HR&IR/D/G2/2023-24/816]
