Expected Banking DA from November 2019 to January 2020
Dearness allowance is a cost of living adjustment paid to government employees, public sector employees and pensioners in India, Bangladesh and Pakistan. Dearness allowance is calculated as a percentage of Indian citizens basic salary to mitigate the impact of inflation on people.
In banks dearness allowance is revised every 3 months i.e. February – April, May to July, August to October, and November to January.
What increase in Dearness Allowance we can expect:
CPI data release for the month of July – 19 is 319, up 3 points from June 2019
CPI data released for the month of August – 19 is 320 up 1 point from July 2019
Assuming that CPI will increase by 1 point for the month of September 2019, DA for bankers will be 716 slabs that is 71.6% i.e. 3.5% increase
Assuming that CPI will increase by 2 points for the month of September 2019, DA for bankers will be at 722 slabs i.e. 72.2% which is 4.1% increase.
At the time of writing we can be assured of DA will be rising for Months November 2019 to January 2020 by atleast 3.5%
