Post the 12th BPS, there has been a significant re calibration in DA for Bankers with new slabs and calculation for employees. We present the old and current DA for Bankers in the table format for increase and decrease as well for easy understanding.
DA for Bankers from August 2024
The data of AICPIN for August to Ocotber 2024 shows a considerable increase in the Bank employee DA percentage at 1.23% from the previous period with total as 17.20% after the implementation of 12th BPS, reflecting a new approach in alignment which indicates a substantial increase in the additional pay for bank employees to receive as compensation for inflation.
The shift in DA hike for Bankers calculation from August 2024 could be part of these reforms to create a more sustainable or balanced approach with increase DA slabs for bankers to manage inflationary allowances.
The data provided showcases the changes in the Dearness Allowance (DA) for bank employees over multiple periods, alongside the Average Consumer Price Index (CPI) values along with number of slabs in consideration and percentage differences in DA, Let’s have a look at the new
DA Chart for Bankers
The change in present DA for Bankers as specified in below table for each quarter may impact the overall earnings of bank employees with new DA slabs for bankers and could have implications on their financial planning and budgeting. Let’s have a look at DA chart for bankers for 12th BPS pay scales which shows quarterly revised figures
| DA Payable From | Average CPI | No: of Slabs | Increase % | Total DA |
|---|---|---|---|---|
| August to November 2024 | 140.23 | 1.23 | 1.23 | 17.20 |
| May to July 2024 | 139 | 139 | -32.54 from 12th BPS | 15.97 |
DA Applicable Banks
The following are the banks implemented Bankers DA (Dearness Allowance) to their employees in part of Bankers pay scale with 12th BPS effective from 01.11.2022
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Indian Bank
- Indian Overseas Bank
- Punjab & Sind Bank
- Punjab National Bank
- UCO Bank
- Union Bank of India
- State Bank of India
- IDBI Bank
- The Dhanlaxmi Bank Ltd.
- The Federal Bank Ltd.
- The Jammu & Kashmir Bank Ltd.
- Kotak Mahindra Bank Ltd.
- The Karnataka Bank Ltd.
- The Karur Vysya Bank Ltd.
- The Nainital Bank Ltd.
- RBL Bank Ltd.
- The South Indian Bank Ltd.
- Citibank, N.A.
- The Hongkong & Shanghai Banking Corporation Ltd.
- Standard Chartered Bank
The data clearly illustrates the dynamic nature of DA adjustments for bank employees, primarily driven by changes in the AICPIN. Significant increases in DA often coincide with periods of high inflation, reflecting the system’s responsiveness to maintain the purchasing power of bank employees with current DA for bankers.