DA from May, June, July 2017 is 45.60% for Bank Employee

DA from May, June, July 2017 is 45.60% for Bank Employee

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DA Announced For May - July 2017

Today i.e. on 28.04.2017, Government announced Consumer Price Index (CPI) data for the month of March 2017. On the basis of CPI data announced by the Govt for the month of January 2017, February 2017 and March 2017, as tabled below, there is a decrease of 13 DA Slabs payable for the period of May 2017, June 2017 and July 2017 for all Bank Employees in 2017.

On the basis of CPI data announced by the Government for the month of January 2017 to March 2017, the DA payable for Bank employees and officers from May 2017 to July 2017 is 45.60%, previously it was 46.90%.

The DA for the quarter February 2017 to April 2017 was 46.90% which will be reduced to 45.60% for the ensuing quarter.

Bank Employees to get decreased DA from May to July 2017.

CPI for January 2017 was announced on 28th February 2017 and it was 6345.60.  

CPI for February 2017 was announced on 31st March 2017  and it was 6254.30.

CPI for March 2017 will be announced on 28th April 2017  and it is 6277.12.

Calculation of DA May 2017, June 2017 and July 2017 :- 

  • January 2017 - 6254.30
  • February 2017 - 6254.30
  • March 2017 - 6277.12

Bank DA for May 2017, June 2017 and July 2017

  • Average CPI is (6254.30 + 6254.30 + 6277.12) / 3 = 18785.72/3 = 6261.91
  • Deduct 4440 slabs from average CPI (6261.91 - 4440) = 1821.91
  • Divide 1821.91 by 4 to convert to quarterly DA slabs (1821.91/4) = 456.
  • DA Slab for next Quarter will be 456.
  • Multiple 469 with 0.10%, is payable as DA = 456 x 0.10% = 45.60%
  • So DA Payable for for May 2017, June 2017 and July 2017 will be 45.60%.
  • Slabs for May 2017 - June 2017 = 456.  
  • Number of slabs for the Previous Quarter (Feb, March & April 2017) = 469 slabs 
  • Decrease in the slabs for the current quarter = (456 - 469) or (45.60% - 46.90%) = -13 slabs or 1.30%.
So, The tentative decrease in DA Slabs is 13 slabs for the month of May 2017, June 2017 and July 2017.
DA from May, June, July 2017 is 45.60% for Bank Employee

So, The Dearness Allowance (DA) payable to employees/Officers is 456 slabs for May 2017, June 2017 and July 2017.