#dr_rates

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RBI Pensioners and Other Bank Pensioners DR Increase Update

Data indicates an increase of 23 slabs for RBI Pensioners, Family Pensioners, and other Bank Pensioners whose pension is merged at 6352 points. The increase is 1.61% over the earlier half year.

Labour Bureau, M/o Labour and Employment have released the All-India Consumer Price Index numbers (AICPIN) 2016=100 for the half year ending June 24. The data after converting to 1960=100 is shown in the chart above. It indicates an increase of 23 slabs for RBI Pensioners, Family Pensioners, and other Bank Pensioners whose pension is merged at 6352 points. The increase is 1.61% over the earlier…

RBI Pensioners and Other Bank Pensioners DR Increase Update

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Transition to New DA Calculation: RBI Pensioners and Pay Scale Revisions

preliminary negotiations have since been resumed. Given that the pay scales have been finalized in the bipartite settlement in the Banking Industry, a similar outcome (merger at 8088 points) in the RBI and consequent revised pay scales may soon follow.

Before the 12th Bipartite settlement was implemented, the Dearness Allowance (DA) for Bank employees was calculated based on the quarterly average of the All-India Consumer Price Index Numbers (AICPIN) for Industrial Workers Base 2016=100. The quarterly average from the base year 2016=100 was converted to base year to 1960=100 using linking factors (2.88*4.63*4.93). To find the rise in points,…

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12th Bipartite Settlement / 9th Joint Note signed

this joint note represents a positive development for bank employees, ensuring better wages and improved benefits. It's a step toward recognizing their valuable contributions to the banking sector in India.

United Forum of Bank Unions (UFBU) and Indian Banks Association(IBA) signed the 12th Bipartite Settlement on 8th March 24 at Mumbai. The 9th Joint Note for the Officers Associations was also signed simultaneously. UFBU submitted Charter of Demands on 4 November 2022. A Memorandum of Understanding (MOU) was signed on 7 December 2023. 5-day working week for the bank employees and officers found…

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61 slabs for RBI Pensioners

According to the Ministry of Labour and Employment, the All-India Consumer Price Index (AICPIN) numbers for the half year ending December 2023 indicate a increase of 61 slabs in Dearness Relief (DR) for RBI / bank pensioners. A 4-point increase in index translates to one slab. The increase of 61slabs gives 4.27% rise in Pension. Now Dearness relief is 48.51% of basic Pension as depicted in the…

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Dearness relief calculator for RBI Pensioners-Aug 23 to Jan 24

A Dearness relief calculator is uploaded for members to find the increase in monthly pension for the period Aug 23 to Jan 24 after the increase in Dearness Relief informed as given in the previous post. Users may just enter basic pension (as updated in June23) in the calculator here to get the monthly increase. Family Pension calculator will be uploaded on receipt of clear guidelines from the…

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RBI Pensioners-44 slabs increase from Aug 23

Based on the data the there is an increase of 44 slabs for the RBI pensioners.

Data for the half year ending June 23 Labour Bureau, M/o Labour and Employment have released the All-India Consumer Price Index numbers -AICPIN for the half year ending June 23 and the data is shown in chart above: Based on the data the there is an increase of 44 slabs for the RBI pensioners. After updating of Pension in RBI, the effective increase in DR RATE for the half year August 23 to…

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Dearness Relief for RBI/Bank Pensioners - 62 slabs more from February 23 to July 23

Labour Bureau, M/o Labour and Employment have made available the All India Consumer Price Index numbers AICPIN for the half year ending December 22 . The data is in chart above: Based on this data , Dearness Relief rates as given below shall come into force from February 23 to July 23. Pensioners retired before 1.11.2017 increase in slabs% increaseGross Dearness Relief6262*0.10% = 6.20106.60%…

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Dearness Relief for RBI/Bank Pensioners-55 slabs more from August 22 to January 23

Dearness Relief for RBI/Bank Pensioners-55 slabs more from August 22 to January 23

Data for the half year ending June 22 Labour Bureau, M/o Labour and Employment have made available the All India Consumer Price Index numbers AICPIN for the half year ending June 22 have released data as shown in chart above: Based on this data , Dearness relief rates as given below shall come into force from August 22 to January 23. Pensioners retired before 1.11.2017i) The increase in DR RATE…

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