DA hike for Bankers from May 2018

Latest DA slabs increase for bankers comes out to be 2 Slabs for May 2018 to July 2018 – DA increase chart for Bank Clerk, Officer, Substaff and Pensioners will be published very soon here. All India Consumer Price Index (CPI) numbers for Industrial workers – CPI(IW) has been published for month of January, February and March 2018. Total DA slabs applicable on basic salary will be 529 so there is an increase of 2 Slabs in DA w.e.f May 2018.

DA Slabs increase for bank employees for May 2018 to July 2018

We have calculated the increase in DA slabs payable for the month of May 2018 to July 2018. DA payable on DA slabs is 0.10 percent so percentage increase in DA comes out to be 0.20 percent.

DA slabs increase calculation for May 2018

Consumer Price Index (CPI) numbers as announced by Labour Bureau for month January, February and March 2018 are as follows :

Consumer Price Index (CPI) Numbers for January 2018 – 288

Consumer Price Index (CPI) Numbers for February 2018 – 287

Consumer Price Index (CPI) Numbers for March 2018 – 287

Multiply it by conversion factor (4.63 x 4.93),

• CPI for Jan 2018 = (288×4.63×4.93) = 6573.85
• CPI for Feb 2018 = (287×4.63×4.93) = 6551.03
• CPI for March 2018 = (287×4.63×4.93) = 6551.03
• Average CPI = (6573.85+6551.03+6551.03)/3 = 6558.64
• Deducting 4440 slabs which are merged in basic pay as per 10thbipartite settlement = (6558.64-4440) = 2118.63
• Divide 2118.63 by 4 to calculated DA slabs for quarter = (2118.63/4) = 529.65 or 529 (rounding off) on which 0.10 percent DA is payable.

So DA slabs percentage for May 2018, June 2018 and July 2018 will be 52.90 percent.

Actual Increase in DA Slabs = 529-527 = 2 slabs

So DA increase for month of May, June and July 2018 will be 0.20 percent.