DA Announced For November 2016, December 2016 and January 2017.
Today i.e. on 31.10.2016, Government announced Consumer Price Index (CPI) data for the month of Sep'16. On the basis of CPI data announced by the Govt for the month of Jul'16 to Sep'16, as tabled below, there is an increase of 23 DA Slabs payable for the period of Nov'16 to Jan'17.
On the basis of CPI data announced by the Government for the month of August 2016, September 2016 and October 2016, the Dearness Allowance payable for Bank employees for November 2016, December 2016 and January 2017 is to be 47.80%.
On the basis of CPI data announced by the Government for the month of August 2016, September 2016 and October 2016, the Dearness Allowance payable for Bank employees for November 2016, December 2016 and January 2017 is to be 47.80%.
CPI for July 2016 was announced on 31st August 2016 and it was 6391.25.
CPI for August 2016 was announced on 30th September 2016 and it was 6345.60.
CPI for September 2016 was announced on 31st October 2016 and it was 6322.77.
CPI for September 2016 was announced on 31st October 2016 and it was 6322.77.
Calculation of DA :-
- July 2016 - 6391.25
- August 2016 - 6368.42
- September 2016 - 6322.77
- Average CPI is (6391.25 + 6345.60 + 6322.77) / 3 = 19059.62/3 = 6353.20
- Deduct 4440 slabs from average CPI (6353.20 - 4440) = 1913.20
- Divide 1913.20 by 4 to convert to quarterly DA slabs (1913.20/4) = 478.30 or 478.
- DA Slab for next Quarter will be 478.
- Multiple 478 with 0.10%, is payable as DA = 478 x 0.10% = 47.8%
- So DA Payable for for November 2016, December 2016 and January 2017 will be 47.80%.
- Slabs for Nov 2016 - Jan 2017 = 478.
- Number of slabs for the Previous Quarter (Aug - Sep 2016) = 455 slabs
- Increase in the slabs for the current quarter = (478 - 455) or (47.80% - 45.50) = 23 slabs or 2.30%.
So,The tentative increase in DA Slabs is 23 slabs for the month of November 2016, December 2016 and January 2017.
Increased Dearness Allowance in Bank Salary for Nov, Dec & Jan