DR for Surviving Pre-1986 Bank Retirees and their Spouses from Feb to July 2023

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 AverageAmount of Ex-gratia per monthRate of Dearness ReliefAmount of Dearness Relief per monthTotal Ex-gratia amount including Dearness Relief per month
%
8705Pre 1.1.86 Retirees3501357.4247515101
Surviving Spouses of pre-1.1.86 retirees1751357.4223752550

Yours faithfully,

Brajeshwar Sharma
Senior Advisor (HR&IR)

Source: www.iba.org.in

DR for Surviving Pre-1986 Bank Retirees and their Spouses

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