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