AICPIN – IW for July 2023 has been released by Labour ministry on 31.08.23. After declaration of AICPIN-IW for July, August and September 2023, the DA hike for Bank employees or Bankers from 1st November 2023 will be known to us for 11th and 10th BPS. IBA will also declare the DA hike circular for bankers in the first week of November’23.
- DA for bankers from 1st November 2023 for 10th BPS may increase by 6.6% to 8.8%, and DA will be 117.6% to 119.8% based on AICPIN data.
- DA for bankers from 1st November 2023 for 11th BPS may increase by 4.62% to 6.16%, and DA will be 48.86% to 50.40% based on AICPIN data.
हिंदी में पढ़े: 1 नवंबर 2023 से महंगाई भत्ता (DA) बैंक कर्मचारियों के लिए
Expected DA hike for bankers from 1st November 2023 as per 11th BPS:
Here for calculation of DA, AICPIN of Aug’23 and Sep’23 have been assumed while It is declared for July’23.
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Expected DA hike for bankers from 1st November 2023 as per 10th BPS:
Here for calculation of DA, AICPIN of Aug’23 and Sep’23 have been assumed while It is declared for July’23.
Dearness Allowances (DA) hike of Bankers for Aug’23, Sep’23 and Oct’23- by IBA
11th BPS DA for Aug’23, Sep’23 and Oct’23: on 02.08.2023, IBA has published the official order of DA for bank employees, workmen and officers, which reflects the change from last quarter in DA for Bank employees with effect from 1st August 2023.
Dearness Allowance (DA) rate hike for bankers from 01.08.2023, as per 11th BPS:
As per 11th bipartite settlement, the DA for bank employees, workmen and officers from 1st Aug 2023 increased to 44.24%, increment of 2.52% compared to last quarter.
Dearness Allowance (DA) rate hike for bankers from 01.08.2023, as per 10th BPS:
As per 10th bipartite settlement, the DA for bank employees, workmen and officers from 1st May 2023 increased to 111.0%, increment of 3.60% compared to last quarter.
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IBA official DA order (02.08.23) for Bank employees for Aug’23, Sep’23 and Oct’23 (Source:IBA):
Government of India had released average AICPIN for the quarter April 2023, May 2023 and June 2023. With these average AICPIN numbers, the Dearness Allowances for Bank employees has been calculated.
This Dearness Allowance (DA) are for workmen and officer employees in Banks for the months of Aug’23, Sep’23 and Oct’23 under XI BPS / 8th Joint Note dated 11.11.2020.
IBA’s official order of Dearness Allowances rate for Bank Employees:
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The AICPIN – IW (All-India Consumer Price Index number – Industrial Workers) is released by Labour Bureau, under Ministry of Labour and Employment, on the last working day of every month for previous month. And based on the consecutive 3 months, means 1 quarter, calculation of average is done to find slabs, and then DA percentage rate, which may be more or less than the previous quarter DA rate.
Similarly, after the release of AICPIN-IW data of July, August and September 2023 by the Ministry of labour and employment, the DA for bank employees from 1st November 2023 will be decided.
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As per 11th BPS, how to calculate slabs and DA of bank employees? What is the formula of slab and DA calculation of bank workmen and officers?
AICPIN calculation for slabs and DA rate of bankers:
- Jun 2023 AICPIN – 136.4 x 2.88 x 4.63 x 4.93 = 8966.74
- May 2023 AICPIN – 134.7 x 2.88 x 4.63 x 4.93 = 8854.99
- Apr 2023 AICPIN – 134.2 x 2.88 x 4.63 x 4.93 = 8822.12
In terms of 11th bipartite settlement BPS/Joint Notes, 6352 points of DA was merged with the ‘pay’ and DA rate was fixed at 0.07 % per DA slab. So, the calculation of Bank DA is:
- Average of the quarter = 8881
- Number of DA slabs = (8881 – 6352) / 4 = 632 slabs
- DA rate effective from 01.08.2023 = 44.24% (0.07 % of 632)
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As per 10th BPS, how to calculate slabs and DA of bank employees? What is the formula of slab and DA calculation of bank workmen and officers?
AICPIN calculation for slabs and DA rate of bankers:
- Jun 2023 AICPIN – 136.4 x 2.88 x 4.63 x 4.93 = 8966.74
- May 2023 AICPIN – 134.7 x 2.88 x 4.63 x 4.93 = 8854.99
- Apr 2023 AICPIN – 134.2 x 2.88 x 4.63 x 4.93 = 8822.12
In terms of X BPS/Joint Notes, 4440 points of DA was merged with the ‘pay’ and DA rate was fixed at 0.1 % per DA slab. So, the calculation of Bank DA is:
- Average of the quarter = 8881
- Number of DA slabs = 8881 – 4440 = 4016/ 4 = 1110 slabs
- DA rate effective from 01.08.2023 = 111.00% (0.1 % of 1110 )
Based on the AICPIN-IW (All India Consumer Price Index Number – Industrial Workers) data, the HR & Industrial Relations department of Indian Banks Association (IBA) calculates the new DA rate and issues the press note indicating the change in DA rate.
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Past DA rates for bank workmen and officer employees as per 11th BPS:
| DA payable months or period | Average AICPIN | No. of Slabs | % of Pay | Hike (%) | IBA Circular |
| 01.11.2023 to 31.01.2024 | |||||
| 01.08.2023 to 31.10.2023 | 8881 | 632 | 44,24 | 2.52% | IBA order |
| 01.05.2023 to 31.07.2023 | 8738 | 596 | 41.72 | 0.56% | IBA order |
| 01.02.2023 to 30.04.2023 | 8705.98 | 588 | 41.16 | 2.24% | IBA order |
| 01.11.2022 to 31.01.2023 | 8576.69 | 556 | 38.92 | 2.10% | IBA order |
| 01.08.2022 to 31.10.2022 | 8456.17 | 526 | 36.82 | 3.78% | IBA order |
| 01.05.2022 to 31.07.2022 | 8241.42 | 472 | 33.04 | 0.07% | IBA order |
| 01.02.2022 to 30.04.2022 | 8239.24 | 471 | 32.97 | 2.59% | IBA order |
| 01.11.2021 to 31.01.2022 | 8088.04 | 434 | 30.38 | 2.59 % | IBA order |
| 01.08.2021 to 31.10.2021 | 7941.22 | 397 | 27.79 | 2.10 % | IBA order |
| 01.05.2021 to 31.07.2021 | 7818.51 | 367 | 25.69 | -0.49 % | IBA order |
| 01.02.2021 to 30.04.2021 | 7849.19 | 374 | 26.18 | 2.31 % | IBA order |
| 01.11.2020 to 31.01.2021 | 7716.13 | 341 | 23.87 | 4.40 % |
Past DA rates for bank workmen and officer employees as per 10th BPS:
| DA payable months or period | Average AICPIN | No. of Slabs | % of Pay | Hike (%) |
| 01.11.2023 to 31.01.2024 | ||||
| 01.08.2023 to 31.10.2023 | 8881 | 1110 | 111.0 | 3.6% |
| 01.05.2023 to 31.07.2023 | 8738 | 1074 | 107.4 | 0.80% |
| 01.02.2023 to 30.04.2023 | 8705.98 | 1066 | 106.6 | 3.2% |
| 01.11.2022 to 31.01.2023 | 8576.69 | 1034 | 103.4 | 3.0% |
| 01.08.2022 to 31.10.2022 | 8456.17 | 1004 | 100..4 | 5.4% |
| 01.05.2022 to 31.07.2022 | 8241.42 | 950 | 95.0 | 0.10% |
| 01.02.2022 to 30.04.2022 | 8239.24 | 949 | 94.9 | 3.70 % |
| 01.11.2021 to 31.01.2022 | 8088.04 | 912 | 91.2 | 3.70 % |
| 01.08.2021 to 31.10.2021 | 7941.22 | 875 | 87.5 | 3.0 % |
| 01.05.2021 to 31.07.2021 | 7818.51 | 845 | 84.5 | -0.70% |
| 01.02.2021 to 30.04.2021 | 7849.19 | 852 | 85.2 | 3.3 |
| 01.11.2020 to 31.01.2021 | 7716.13 | 819 | 81.9 | 4.4 |
| 01.08.2020 to 31.10.2020 | 7540 | 775 | 77.5 | 1.4 |
| 01.05.2020 to 31.07.2020 | 7486.9 | 761 | 76.1 | 0.2 |
| 01.02.2020 to 30.04.2020 | 7479.29 | 759 | 75.9 | 4.2 |
| 01.11.2019 to 31.01.2020 | 7311 | 717 | 71.7 | 3.6 |
| 01.08.2019 to 31.10.2019 | 7167.33 | 681 | 68.1 | 3.6 |
| 01.05.2019 to 31.07.2019 | 7023 | 645 | 64.5 | 3.4 |
| 01.02.2019 to 30.04.2019 | 6885 | 611 | 61.1 | 0.4 |
| 01.11.2018 to 31.01.2019 | 6871 | 607 | 60.7 | 6.6 |
| 01.08.2018 to 31.10.2018 | 6604 | 541 | 54.1 | 1.2 |
| 01.05.2018 to 31.07.2018 | 6559 | 529 | 52.9 | 0.2 |
| 01.02.2018 to 30.04.2018 | 6551 | 527 | 52.7 | 1.1 |
| 01.11.2017 to 31.01.2018 | 6505 | 516 | 51.6 | 3.8 |
| 01.08.2017 to 31.10.2017 | 6353.21 | 478 | 47.8 | 2.2 |
| 01.05.2017 to 31.07.2017 | 6261.91 | 456 | 45.6 | 1.3 |
| 01.02.2017 to 30.04.2017 | 6315 | 469 | 46.9 | 1.3 |
| 01.11.2016 to 31.01.2017 | 6353 | 456 | 45.6 | 0.1 |
| 01.08.2016 to 31.10.2016 | 6261.9 | 455 | 45.5 | 3.5 |
| 01.05.2016 to 31.07.2016 | 6117 | 420 | 42 | 0.6 |
| 01.02.2016 to 30.04.2016 | 6147 | 426 | 42.6 | 2.8 |
| 01.11.2015 to 31.01.2016 | 6033 | 398 | 39.8 | 3.4 |
| 01.08.2015 to 31.10.2015 | 5896 | 364 | 36.4 | 74.3 |
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11th bipartite settlement – Joint circular wage negotiation 11.11.2020, between IBA and Officers association:
11th bipartite settlement – Joint Note dated 11th November 2020 of conclusion of discussions between Indian Banks Association and Officers Association is here in PDF to download.
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Disclaimer: Kindly refer IBA for any inconsistencies in rules, understandings and clarification.