DA Announced For May - July 2016

On the basis of CPI data announced by the Government for the month of Janaury 2016 to March 2016, the DA payable for Bank employees and officers January months of  May 2016 to July 2016 is reduced by 7 slabs at a rate of 0.10% per slab.

The DA for the quarter Febraury 2016 to April 2016 was 42.60% which will be reduced to 41.90% for the ensuing quarter.

Slab calculation:

Average CPI for the Quarter January 2016 to March 2016 is 1676 points (after merger of 4440 points of DA with basic in the 10 BPS).

1676 is divided by 4= 419 slabs

Number of slabs for the previous quarter is 426 slabs

Decrease in Slabs= (426 -419) i.e.  7 slabs=0.70% @0.10% per slab

Percentage of DA payable for May 2016 to July 2016 (  42.60%- 0.70%)= 41.90%

DA Chart for May - July 2016

Expected DA Slabs for the month of May'16 to July'16 - updated on 31.03.16 on announcements of Consumer Price Index for the month of Feb'16

Expected DA Slabs for the month of May'16 to July'16 - updated on 31.03.16 on announcements of Consumer Price Index for the month of Feb'16 as under

Today i.e. on 31.03.2016, CPI for the month Feb'16 announced as 6094.51. Earlier on 29.02.2016 CPI data for the month of Jan'16 announced as 6140.17. On assumptions that CPI data would remain as avergae of Jan & Feb 2016 for the next month Mar'16 in that situation the expected (tentatively) change in DA Slabs comes to decrease of 7 slabs for the month of May'16 - Jul'16, the expected DA payable in terms of percentage is as under : (However if we assume that CPI would remain sam as on Feb'16 in that situation the tentatively decrease is of 9 DA slabs, the expected DA calculator is revised on expectation of reduction of 7 slabs on assumption of average CPI of Jan & FEb for the month of March'16 )

( Reduction in expected DA raises a question in every one's mind that which item they find becomed cheaper. Are these the "achhe din" for Bankers and "achhe din" for pensioners by reduction in Interest rates on depsosits. )

DA Announced For Feb.16 - May 16

No clear info with RBI on Re 1's different title: RTI reply

The Reserve Bank of India (RBI) does not have a clear guideline regarding the printing of different titles on the currency note of Re 1 and that of other denominations, reply to an RTI query has revealed.

The Re 1 note bears the title 'Government of India', while other currency notes bear the title 'Guarantee by the Central Government'.

Activist Manoranjan Roy had filed an RTI query with the RBI recently seeking gazette copy or any other legal document with respect to the two different titles printed on Re 1 note and other notes.

In its reply, RBI's Central Public Information Officer Uma Shankar said, "The information sought is not available with us."

Notes of Re 1 bear the signature of Secretary, Ministry of Finance, while currency notes of all denominations carry signature of the Governor of RBI.

Roy said that the discrepancy in the title is ambiguous and, moreover, it seems like the RBI was doing its job "without clear-cut guidelines".

The activist also said the RBI Governor's signature on the currency notes, which are in both Hindi and English, should only be in one language. "These are definitely not part of security features on a currency note but definitely creates unnecessary ambiguity. It is time that the Finance Ministry take a note of it."