DA FOR BANKERS FROM MAY 2024

Are you looking to know about dearness allowance for banker from May 2024? If yes, then you came to right place. Every year bankers DA will be revised four times. Every year Bankers Dearness Allowance is revised in the months of February, May, August and November.

Table of Contents

DA CALCULATION FOR THE MONTH OF MAY 2024

Dearness Allowance (DA) stands as a pivotal element in ensuring the financial stability of bank employees, serving as a countermeasure against the erosive effects of inflation. The fundamental purpose of DA is to uphold the purchasing power of bank staff by augmenting their total salary. Notably, the Indian Bank Association (IBA) collaborates with the Reserve Bank of India in negotiating and determining the Dearness Rates for Bankers, thereby influencing the financial landscape for this crucial sector.

Calculation Methodology:

To ascertain the expected Dearness Allowance for bankers from May 2024, a meticulous calculation process comes into play. The initial step involves gathering Consumer Price Index (CPI) data for the months of January, February, and March 2024. However, it is important to note that this CPI data is received with a one-month lag.

Calculation Process for May 2024:

January 2024’s CPI index becomes available on 29th February 2024, followed by the February index on 31st March 2024, and the March index on 30th April 2024. Building on the CPI data, projections for January, February, and March 2024 result in CPI indices of 138.90, 139.00, and 139.10, respectively.

The subsequent step involves calculating the average CPI index, yielding a figure of 139. This value is then multiplied by various factors, including the Base Year Table, with adjustments made for merged points from the previous year. This intricate process culminates in converting points to slabs and ultimately translating them into a percentage, conforming to the norms stipulated by the 11th Bipartite Settlement (BPS).

EXPECTED DA FOR BANKER MAY 2024 48.79%

Clerk DA for Bankers from MAY 2024

BASIC SALARY	FEB 2024	MAY 2024	CHANGE
17900	10,398.41	10,458.43	60.02
18900	10,963.07	11,026.34	63.28
19900	11,527.72	11,594.26	66.54
20900	12,092.38	12,162.18	69.80
22130	12,786.91	12,860.71	73.81
23360	13,481.43	13,559.25	77.81
24590	14,175.96	14,257.78	81.82
26080	15,017.30	15,103.98	86.68
27570	15,858.64	15,950.17	91.54
29060	16,699.97	16,796.37	96.39
30550	17,541.31	17,642.56	101.25
32280	18,518.17	18,625.06	106.89
34010	19,495.02	19,607.55	112.53
35740	20,471.88	20,590.04	118.16
37470	21,448.74	21,572.54	123.80
39200	22,425.59	22,555.03	129.44
40930	23,402.45	23,537.53	135.08
42660	24,379.30	24,520.02	140.72
45930	26,225.73	26,377.10	151.38
47920	27,349.39	27,507.26	157.86
49910	28,473.06	28,637.41	164.35
51900	29,596.73	29,767.56	170.83
53890	30,720.39	30,897.71	177.32
55880	31,844.06	32,027.86	183.80
57870	32,967.73	33,158.02	190.29
59860	34,091.39	34,288.17	196.78
61850	35,215.06	35,418.32	203.26
63840	36,338.72	36,548.47	209.75
65830	37,462.39	37,678.62	216.23

Sub Staff DA for Bankers from MAY 2024

BASIC SALARY	FEB 2024	MAY 2024	CHANGE
14500	8,478.58	8,527.52	48.94
15000	8,760.91	8,811.47	50.57
15500	9,043.23	9,095.43	52.20
16000	9,325.56	9,379.39	53.83
16500	9,607.89	9,663.35	55.46
17115	9,955.15	10,012.62	57.46
17730	10,302.42	10,361.88	59.47
18345	10,649.68	10,711.15	61.47
18960	10,996.95	11,060.42	63.47
19575	11,344.21	11,409.69	65.48
20315	11,762.05	11,829.95	67.89
21055	12,179.90	12,250.20	70.30
21795	12,597.75	12,670.46	72.71
22535	13,015.59	13,090.72	75.13
23405	13,506.84	13,584.80	77.96
24275	13,998.09	14,078.89	80.80
25145	14,489.35	14,572.98	83.63
26145	15,054.00	15,140.89	86.89
27145	15,618.66	15,708.81	90.15
28145	16,183.31	16,276.72	93.41
29145	16,747.97	16,844.64	96.67
30145	17,312.63	17,412.56	99.93
31145	17,877.28	17,980.47	103.19
32145	18,441.94	18,548.39	106.45
33145	19,006.60	19,116.30	109.71
34145	19,571.25	19,684.22	112.97
35145	20,135.91	20,252.13	116.22
36145	20,700.57	20,820.05	119.48
37145	21,265.22	21,387.96	122.74

Officer I-III DA for Bankers from MAY 2024

BASIC SALARY	FEB 2024	MAY 2024	CHANGE
36000	20,618.69	20,737.70	119.01
37490	21,460.03	21,583.90	123.87
38980	22,301.37	22,430.09	128.72
40470	23,142.70	23,276.28	133.58
41960	23,984.04	24,122.48	138.44
43450	24,825.38	24,968.67	143.29
44940	25,666.72	25,814.87	148.15
46430	26,508.06	26,661.06	153.00
48170	27,490.56	27,649.23	158.68
49910	28,473.06	28,637.41	164.35
51900	29,596.73	29,767.56	170.83
53890	30,720.39	30,897.71	177.32
55880	31,844.06	32,027.86	183.80
57870	32,967.73	33,158.02	190.29
59860	34,091.39	34,288.17	196.78
61850	35,215.06	35,418.32	203.26
63840	36,338.72	36,548.47	209.75
65830	37,462.39	37,678.62	216.23
67820	38,586.06	38,808.78	222.72
69810	39,709.72	39,938.93	229.20
71800	40,833.39	41,069.08	235.69
73790	41,957.06	42,199.23	242.18
76010	43,210.59	43,460.00	249.41
78230	44,464.13	44,720.78	256.65
80450	45,717.67	45,981.55	263.88
82670	46,971.20	47,242.32	271.12
84890	48,224.74	48,503.10	278.35
87110	49,478.28	49,763.87	285.59
89330	50,731.82	51,024.64	292.82
89610	50,889.92	51,183.66	293.74
92110	52,301.56	52,603.45	301.88

Scale (iv-v) DA for Bankers from MAY 2024

BASIC SALARY	FEB 2024	MAY 2024	CHANGE
76010	43,210.59	43,460.00	249.41
78230	44,464.13	44,720.78	256.65
80450	45,717.67	45,981.55	263.88
82670	46,971.20	47,242.32	271.12
84890	48,224.74	48,503.10	278.35
87390	49,636.38	49,922.88	286.50
89890	51,048.02	51,342.67	294.65
92390	52,459.66	52,762.46	302.80
94890	53,871.31	54,182.25	310.95
95120	54,001.18	54,312.87	311.70
97620	55,412.82	55,732.66	319.84
100350	56,954.33	57,283.07	328.74
103320	58,631.36	58,969.78	338.42
104240	59,150.84	59,492.26	341.42
107210	60,827.87	61,178.97	351.10
110180	62,504.90	62,865.68	360.78
113150	64,181.93	64,552.39	370.46
116120	65,858.96	66,239.10	380.14
119340	67,677.15	68,067.79	390.63
122560	69,495.35	69,896.48	401.13
125780	71,313.54	71,725.16	411.62
129000	73,131.74	73,553.85	422.12

Conclusion:

In conclusion, the anticipated Dearness Allowance for bankers from May 2024 is projected to be 48.79%. This calculation not only underscores the intricacies involved in determining DA but also reflects the commitment of the banking industry to maintaining the financial well-being of its workforce amidst the dynamic economic landscape. This meticulous approach to forecasting DA ensures transparency and provides valuable insights into the financial expectations of bank employees.