AICPIN – IW for December 2022 has been released by Labour ministry on 31.01.2023. After declaration of AICPIN-IW for October, November and December 2022, the DA hike for Bank employees or Bankers from 1st February 2023 are known to us for 11th and 10th BPS. IBA has also released the DA hike circular on 1st Feb’23.
- DA for bankers from 1st February 2023 for 11th BPS have been increased by 2.24%, and DA will be 41.16% based on AICPIN data.
- DA for bankers from 1st February 2023 for 10th BPS have been increased by 3.20%, and DA will be 106.60% based on AICPIN data.
हिंदी में पढ़े: 1 फरवरी 2023 से महंगाई भत्ता (DA) बैंक कर्मचारियों के लिए
DA hike for bankers from 1st February 2023 as per 11th BPS:
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DA hike for bankers from 1st February 2023 as per 10th BPS:
Dearness Allowances (DA) hike of Bankers for Feb’23, Mar’23 and Apr’23- by IBA
11th BPS DA forFeb’23, Mar’23 and Apr’23: on 01.02.2023, 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 February 2023.
Dearness Allowance (DA) rate hike for workmen and officer employees in banks from 01.02.2023, as per 11th bipartite settlement:
As per 11th bipartite settlement, the DA for bank employees, workmen and officers from 1st February 2023 increased to 41.16%, increment of 2.24% compared to last quarter.
Dearness Allowance (DA) for workmen and officer employees in banks from 01.02.2023, as per 10th bipartite settlement:
As per 10th bipartite settlement, the DA for bank employees, workmen and officers from 1st February 2023 increased to 106.6%, increment of 3.2% compared to last quarter.
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IBA official DA order (01.02.23) for Bank employees for Feb’23, Mar’23 and Apr’23 (Source:IBA):
Government of India had released average AICPIN for the quarter Oct 2022, Nov 2022 and Dec 2022. 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 Feb’23, Mar’23 and Apr’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.
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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 2022 AICPIN – 129.2 x 2.88 x 4.63 x 4.93 = 8493.43
- May 2022 AICPIN – 129 x 2.88 x 4.63 x 4.93 = 8480.28
- Apr 2022 AICPIN – 127.7 x 2.88 x 4.63 x 4.93 = 8394.82
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 (Apr, May, Jun) = 8456
- Number of DA slabs = (8456 – 6352) / 4 = 526 slabs
- DA rate effective from 01.08.2022 = 36.82% (0.07 % of 526)
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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 2022 AICPIN – 129.2 x 2.88 x 4.63 x 4.93 = 8493.43
- May 2022 AICPIN – 129 x 2.88 x 4.63 x 4.93 = 8480.28
- Apr 2022 AICPIN – 127.7 x 2.88 x 4.63 x 4.93 = 8394.82
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 (Apr, May, Jun) = 8456
- Number of DA slabs = 8456 – 4440 = 4016/ 4 = 1004 slabs
- DA rate effective from 01.08.2022 = 100.40% (0.1 % of 1004 )
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.
Similarly, after the release of AICPIN-IW data of July, August and September 2022 by the Ministry of labour and employment, the DA for bank employees from 1st November 2022 will be decided.
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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 |
| 01.02.2023 to 30.04.2023 | 8705 | 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 (%) |
| 01.11.2022 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.