Dearness Relief to Bank Pensioners for August 2017 to January 2018- IBA Circular

Dearness Relief to Bank Pensioners for August 2017 to January 2018- IBA Circular

Indian Banks' Association

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2017-18/3314
August 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 August 2017 to January 2018

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended June, 2017 are as follows:-

April 2017       -      6322.77

May 2017        -     6345.60

June 2017        -     6391.25

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 August 2017 to January 2018 as per Annexure.

Yours faithfully,

Sd/-
S K Kakkar
Senior Advisor

Encl.



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