IBA – Dearness Relief payable to Pensioners for the period February 2021 to July 2021

IBA – Dearness Relief payable to Pensioners for the period February 2021 to July 2021

HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/D/G2/2020-21/9589
February 1, 2021

Designated Officers of all Member Banks
which are parties to the Bipartite Settlement on Pension

Dear Sir/ Madam ,

Dearness Relief payable to Pensioners for the period February 2021 to July 2021

The confirmed All Ind ia Average Consumer Price Index Numbers for Industrial Workers (Base 1960= 100) for the quarter ended December 2020 are as follows:-

October      2020         –     7855.76
November 2020          –     7882.06
December 2020          –     7809.74

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 Dearness Relief is payable to pensioners at rates specified in Append ix 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 2021 to July 2021 as per Annexure.

Yours faithfully,

S K Kakkar
Senior Advisor (HR & IR)

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