Banking Dearness Relief for Pensioners

Banking Dearness Relief for Pensioners

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2016-17/1998
February 1, 2017

Designated Officers of all Member Banks which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period February 2017 to July 2017

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December,2016 are as follows:-

October        2016  –   6345.60
November   2016  –   6322.77
December   2016  –   6277.12

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the Dearness Relief payable to pensioners for the period February 2017 to July 2017 as per Annexure.

Yours faithfully,

K S Chauhan
Senior Vice President

Signed Copy