DA For Bank Employees

DA for Bank Employees

Quick Upates 31 dec 2014.  Some thing unusual, CPI based on which  DA for Bank Employees is fixed is stagnant for the past four months. ( At 253 ).As far as DA increase for Employees of Public Sector Banks for FEB 2015 is concerned the data is now released for two monthsOctober 2014    – 253November 2014 – 253DA for bank employees for FEB 2015 may not decrease  drastically.CPI for October 2014 released – 253 CPI is constant for the past 3 months August, September and october at 253, fingers crossed, DA for bank employees may decrease sharply for FEB 2015Quarterly DA for Bank Employees from 2008PeriodDA % for Bank Employees

Nov,Dec,Jan   2008   6.00
Feb,Mar,Apr    2008   8.25
May,Jun,July  2008   9.45
Aug,Sep,Oct    2008  12.60
Nov,Dec,Jan   2009 17.40
Feb,Mar,Apr    2009  19.95
May,Jun,July  2009  20.25
Aug,Sep,Oct    2009  23.10
Nov,Dec,Jan    2010  31.95
Feb,Mar,Apr    2010  36.75
May,June,July2010  39.60
Aug,Sep,Oct    2010  40.80
Nov,Dec,Jan    2011  46.20
Feb,Mar,Apr    2011  49.95
May,Jun,July  2011  52.80
Aug,Sep,Oct    2011  54.00
Nov,Dec,Jan    2012 60.15
Feb,Mar,Apr    2012  63.00
May,June,July 2012 64.20
Aug,Sep,Oct    2012  70.20
Nov,Dec.Jan   2013  76.50
Feb,Mar,Apr    2013  80.25
May,June,Jul  2013  84.15
Aug,Sep,Oct    2013  88.95
Nov,Dec,Jan    2014  96.15
Feb, Mar, Apr  2014  99.60
May,June,July 2014  97.50
Aug,Sep,Oct     2014 102.45
Nov,Dec ,Jan    2015 109.8

Wage Hike 12.5% > ? > 19.5%

Merger of PSUs into 7 Banks

Total Offer in Hike as on 24.01.2015

To understand offer of improvement by IBA- Some of our friends are asking about hike , this is the offer of IBA I.e. 11% to 12.5%.
Last time it was 10.3% +7.2% I.e. pay slip increase+cost of superannuation benefits.Total 17.5%
Now the offer is 12.5% +12% Total 24.5%

Settlement Update 24.01.2015

Dear friends.. latest update about our settlements:
1) 12.5% offer (still negotiating with IBA for further improvement) by the IBA as on date is equivalent to Rs.3940 crores is only on payslip components (9th settlement 17.5% offer was inclusive of payslip components + all other expenditures - total of 3000 crores)
2) only for medical expenses in this settlement agreed by IBA is around 500 crores..
3) medical expenses for self & family 100% reimbursement by banks without any ceiling (previously it was 100% for self & 75% for families with ceiling)
4) petrol allowance for clerks also
5) improvement in leave conditions for award staffs
6) 60% increament in basic pay
7) 400 points (in 10th settlement alone) of DA merging with basic pay (7th + 8th + 9th settlement total da merger of points was 425 points..)
8) these things were achieved without compromising existing conditions