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 XII BPS/9TH Joint Note dated March 08, 2024.
The following has been stated: -
The All India Average Consumer Price Index for Industrial Workers (Base 2016=100) for July to September 2024 averages at 142.86, marking a 2.63-point increase from the previous quarter's CPI of 140.23. Accordingly, as per the 12th Bipartite Settlement and Joint Note dated March 8, 2024, the Dearness Allowance (DA) for Workmen and Officer employees is set at 19.83% of "pay" for November 2024, December 2024, and January 2025. This DA adjustment reflects a 0.01% increase for each 0.01-point rise in CPI over the base of 123.03 points.
[Circular No.CIR/HR&IR/76/D/2024-25/1550]
