The Indian Banks’ Association has sent a letter to the designated officers of all nationalized banks and the State Bank of India regarding the dearness relief payable for the period of February 2023 to July 2023 for surviving pre 1.1.1986 retirees of banks and surviving spouses of pre 1.1.86 retirees who are in receipt of ex-gratia. The amount payable has been determined based on the directive from the Ministry of Finance and the Department of Economic Affairs (Banking Division).
Dearness Relief payable for the period February 2023 to July 2023 to surviving pre 1.1.1986 retirees of banks (b) surviving spouses of pre 1.1.86 Retirees
Indian Banks’ Association
HR & INDUSTRIAL RELATIONS
No.CIR/HR&IR/D/G2/2023-24/
February 1, 2023
Designated Officers of all Nationalised Banks
and State Bank of India
Dear Sir/Madam,
Dearness Relief payable for the period February 2023 to July 2023 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 February 2023 to July 2023 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 | |
| ₹ | % | ₹ | ₹ | ||
| 8705 | Pre 1.1.86 Retirees | 350 | 1357.42 | 4751 | 5101 |
| Surviving Spouses of pre-1.1.86 retirees | 175 | 1357.42 | 2375 | 2550 |
Yours faithfully,
Brajeshwar Sharma
Senior Advisor (HR&IR)
Source: www.iba.org.in