On the basis of CPI data announced by the Govt for the months of Oct'24 to Dec'254 DA payable for the period Feb'25 to Apr'25 is 21.20% as per 12th BPS.
DA increased for Bank Employees and Pensioners from Feb-2025, Complete Chart
Expected DA for Bankers from February 2025
Expected DA Calculation Updated on 06.01.25 on the basis of CPI for the month of Nov'24 with the assumptions of CPI for the next month (Dec'24) as mentioned hereunder, as per the DA calculation norms of 12th BPS on revised basic pay. The CPI for the month of Nov'24 which was due to be released on 06.01.25 announced on 06.01.25 as 144.50 without any change in CPI from Oct'24.
On assumptions if there is an increase of CPI index by 0.90 points in the month of Dec'24, keeping in view of on going regular rise in prices of commonly required daily needs / items and commodities which is making month over month difficult to manage family budget. Accordingly, on this assumption, we may expect there would be an increase of 1.94% DA in terms of 12th BPS on revised pay. Total 21.77% DA will become payable from Feb'25.
On assumptions if there is an increase of CPI index by 0.70 points each in the next months, we may expect there would be an increase of 1.87% in terms of 12th BPS on revised pay. Total 21.70 percentage of DA will become payable from Feb'25.
On assumptions if there is an increase of CPI index by 0.60 points in the month of Dec'24, we may expect would be an increase of 1.84% in terms of 12th BPS on revised pay. Total 21.67 percentage of DA will become payable from Feb'25.
DA increase for Bankers from November 2024
Today i.e. on 04.11.24 Govt declared CPI for the month of Sep'24 as 143.30 with an increase of 0.70 points from the previous month i.e. Aug'24. . Bankers DA calculator is updated hereunder on the basis of CPI for the month of Jul'24 to sep'24. Earlier the Govt vide their notification dated 22.10.20 (click to view the letter) has changed the Consumer Price base year from 2001=100 to 2016=100 for Industrial Workers.
On the basis of CPI data announced by the Govt for the months of Jul'24 to Sep'24 DA payable for the period Nov'24 to Jan'25 is 19.84% as per 12th BPS.
Expected DA for Bankers from Nov-2024
Expected DA calculation updated today on 01.10.24 on the basis of CPI announced by the GOI for the month of Aug.'24 and with the assumptions of CPI for the month of Sep.'24 as mentioned hereunder.
The CPI for the month of August, 2024 announced today as 142.60 points decreased by 0.10 points only from 142.70 points in July, 2024.
1. On assumptions if there is a decrease of 0.50 points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.24% DA only and the total tentatively revised DA would be 19.44% from Nov.'24 in terms of 12th BPS.
2. On assumptions if there is no increase/decrease of any points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.40% DA only and the total tentatively revised DA would be 19.60% from Nov.'24 in terms of 12th BPS.
3. On assumptions if there is an increase of 0.50 points of CPI in the month of Sep.'24, on this assumption, we may expect that there would be an increase of 2.57% DA only and the total tentatively revised DA would be 19.77% from Nov.'24 in terms of 12th BPS.
DA increase for Bankers from Aug 2024
Good news for bank employees! The Dearness Allowance (DA) has been increased for the period from August to October 2024. This adjustment aims to help employees cope with rising living costs. Keep reading to find out the new DA rates and how this change will affect your salary.
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Good news for Bank Employees about PSU bank Privatisation
In a significant policy shift, the Centre has postponed the privatisation of two public sector banks (PSBs), according to sources. This decision comes amidst indications that the government is reassessing its approach to merging PSBs in the fiscal year 2025 (FY25). The disinvestment pipeline, as per sources, will be influenced by the prevailing market conditions.
Earlier on Wednesday, Finance Secretary TV Somanathan stated that the government will avoid pre-announcing its divestment plans for FY25 to ensure the optimal valuation of public companies. The Union Budget, for the second consecutive year, omitted any mention of ‘disinvestment’, highlighting the Modi 3.0 Government’s focus on enhancing the value of Central Public Sector Enterprises (CPSEs) rather than reducing its equity holdings.
Finance Minister Nirmala Sitharaman has set a disinvestment target of Rs 50,000 crore for 2024-25. However, the Interim Budget presented in February revised the disinvestment estimate for 2023-24 down to Rs 30,000 crore. The Interim Budget for FY2025 included a general category named ‘Miscellaneous Capital Receipts’ under capital receipts, which did not specifically mention ‘disinvestment’. This category comprises receipts from managing equity investments and public assets through various mechanisms.
The government aims to generate Rs 50,000 crore from disinvestment and asset monetization in the current fiscal year, according to DIPAM Secretary Tuhin Kanta Pandey. At a press conference following the Union Budget presentation, Pandey emphasized, “Our focus is on value creation.” This Rs 50,000 crore target under ‘Miscellaneous Capital Receipts’ encompasses various types of receipts, including disinvestment and asset monetization.
In a pre-Budget report, SBI Research suggested that the government should establish a clear policy on PSB disinvestment. The report stressed the importance of a concrete roadmap to attract capital and boost confidence in financial institutions. Additionally, a recent report from CareEdge Ratings highlighted a substantial disinvestment capacity of approximately Rs 11.5 trillion, based on current market capitalizations. This figure assumes the government maintains a minimum 51 percent stake in the public enterprises.
The decision to stay the privatisation of PSBs reflects the government’s strategic shift towards maximizing the value of its public sector enterprises rather than immediate divestment. With a significant disinvestment target and a focus on market conditions, the Centre’s approach aims to balance fiscal goals with market stability and investor confidence.
DA increased for Bankers from May-2024
The Dearness Allowance (DA) for Bank Officers, Clerical and Substaff has been increased as per 12th Bipartite Settlement. DA from May 2024 is as follows:
Salary of Officer in PSU Banks after 12th Bipartite Settlement: Check Salary Slip
The salary of a bank officer can vary depending on factors such as the country or region where they work, the size and type of the bank, their level of experience, and their educational qualifications. In general, bank officers typically earn a competitive salary that reflects their responsibilities and expertise.
As of my last knowledge update, in the India, the average salary for a bank officer ranged from around Rs.7,00,000 to Rs. 30,00,000 per year, depending on the factors mentioned above. Senior bank officers or those working in larger banks or financial institutions may earn salaries at the higher end of this range.
It's important to note that salaries can vary significantly based on the factors mentioned earlier, so it's best to consult up-to-date sources like job listings, salary surveys, or official data from government agencies or banking associations to get a more accurate picture of current salary ranges for bank officers in your area or the specific bank you are interested in.
Sample Salary Slip of Scale- 1 Officer in PSU Banks
