The Indian Bank Association (IBA) on August 07, 2024, issued a circular regarding Dearness Relief payable to Pensioners for the period August 2024 to January 2025.
The following has been stated: -
•The confirmed All India Average Consumer Price Index Numbers for Industrial Workers for the quarter ended June 2024 are given in the document below.
•In terms of Regulation 37 of Bank Employees' Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II 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 August 2024 to January 2025 as per Annexure below.
[Circular No. CIR/HR&IR/D/G2/2024-25/1320]
