Feb 6, 2018

Dearness Relief For Bank Pensioners From February To July 2018

Dearness Relief for Bank Pensioners from February to July 2018 – IBA Circular dated 01.02.2018

Indian Banks’ Association
HR & Industrial Relations
February 1, 2018
Designated Officers of all Members Banks which are parties to the Bipartite Settlements on Pension
Dear Sirs,
Dearness Relief payable to Pensioners for the period February 2018 to July 2018
The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2017 are as follows:-
October 2017 – 6551.03
November 2017 – 6573.86
December 2017 – 6528.21
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 2018 to July 2018 as per Annexure.
Yours faithfully,
S K Kakkar
Senior Advisor (HR&IR)