The Indian Banks' Association (IBA) on November 07, 2024, issued a circular regarding the Dearness Allowance for Workmen and Officer Employees in banks for the months of November 2024, December 2024, and January 2025 under XI BPS/8TH Joint Note dated November 11, 2020.
The following has been stated: -
•For November 2024, December 2024, and January 2025, the Dearness Allowance (DA) for bank workmen and officer employees is 53.13% of their pay.
•This is based on an average Consumer Price Index (CPI) of 9391.85 for the quarter ending September 2024, resulting in an increase of 43 DA slabs (759 slabs total).
•The DA calculation follows the 11th Bipartite Settlement and Joint Note dated November 11, 2020.
•Decimals beyond the third place will be ignored in the DA calculation.
The detailed circular is given in the document below.
[Circular No. HR&IR/76/D/2024-25/1549]
