Dearness Allowance Hiked! For these employees, 3.6 percent more pay next month!
Here's good news for employees working in government banks. They will get an increased salary from September because their DA has been increased by 3.6 per cent. This increase is for the August-October quarter. An order in this regard has been issued by the Indian Banks Association. The copy of this order is with 'Zee Business'. The order said that the AIACPI (All India Average Consumer Price Index) data for June 2019 has arrived. According to this, the average CPI in April 2019 was 7121.68 which increased to 7167.33 in May. In June, it reached 7212.98.
How DA will be calculated
DA slab 7167.33-4440 = 2723.33/4 = 681 (68.1%)
Slab in previous quarter = 645 (64.5%)
How much will it increase
Example: Starting Basic pay of SBI PO is Rs 27,620. With a 3.6 percent increase in DA, salary will increase by about Rs 1000. At the same time, the salary of the top officers will increase by thousands of rupees.
Demand for change in pension system
The Forum of Retired Bank Employees has demanded changes in the system in the banking sector, improvement in family pension and group health insurance at a lower premium like the existing employees. Ashwini Rana, former general secretary of the National Organization of Bank Workers, said that the pension and salary of central employees is increasing with time. But there is no change in the pension scheme in banks.
Family pension is also very less
Rana said that the family pension for bank employees is also very low. This is 15 percent of the last basic salary, while for central government employees it is 30 percent without limit.