Dearness Relief payable for the period August 2016 to January 2017

Dearness Relief payable for the period August 2016 to January 2017

Indian Banks’ Association

HR & INDUSTRIAL RELATIONS

No. CIR/HR&IR/D/G2/2016-1/774
August 1, 2016

Designated Officers of all Nationalised Banks and Associate Banks of State Bank of India

Dear Sirs,

Dearness Relief payable for the period August 2016 to January 2017 to surviving pre 1.1.1986 retirees of banks (b) surviving spouses of pre 1.1.86 Retirees who are in receipt of Ex-gratia

As per the directive contained in the Government of India, Ministry of Finance Department of Economic Affairs (Banking Division) letter F.No. 11/2/2012-IR dated 17.12.2013, the Dearness Relief payable to surviving pre 1.1.1986 retirees of banks for the period August 2016 to January 2017 on Ex-gratia will be as under :

Applicable CPI Average		Amount of Ex-gratia per month	Rate of Dearness Relief	Amount of Dearness Relief per month	Total Ex-gratia amount including Dearness Relief per month
		Rs.	%	Rs.	Rs.
6261	Pre 1.1.86 Retirees	350	948.05	3318	3668
	Surviving spouses of pre 1.1.86 retirees	175	948.05	1659	1834

Source-http://www.iba.org.in/Documents/Circular774.pdf