The salary of bank employees will be increased. The Indian Bank Association has given permission for this. After this increase, the dearness allowance of bank employees will become 15.97 percent.
Dearness allowance of bank employees will be increased. The Indian Banks Association has announced this by issuing a circular. After this increase, the dearness allowance of bank employees will be 15.97 percent, which is an increase of only 0.01 percent from the previous allowance. The increase in DA will be done for the first quarter of the financial year 2024-25.
Dearness allowance for industrial workers is calculated on the basis of the quarterly average of the All India Consumer Price Index (CPI). In the fourth quarter of the financial year 2023-24 (January, February and March this year) it was 139. The previous quarter was 138.76. That is, in the fourth quarter, inflation has increased by 0.24 points as compared to the third quarter.
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There was a 17% increase in salary.
Banks had increased the salary of public sector bank employees by 17% in March this year, which increased the salary paid by banks by Rs 8,284 crore. IBA has also said that a new pay scale will also be decided for bank employees. The increased DA additional load will be added to it.
The long-standing demand for a five-day work week is yet to be approved by the government, although the IBA and bank unions have already agreed to it. However, reports suggest that this may also lead to an increase in working hours. The IBA has also mentioned this in its note. The organization says that no response from the government is yet to come in this regard. According to the IBA, until this happens, there will be no change in the work week. It is worth noting that the bank associations are demanding holidays every Saturday and Sunday.
