Actual DA increase for bankers comes out to be 11 Slabs for Feb 2018 to April 2018 – we will soon update the latest DA chart for Bank Clerk, Officer, Substaff and Pensioners. All India Consumer Price Index numbers for Industrial workers – CPI(IW) has been announced for month of October, November, December 2017. Increase of 11 Slabs in DA w.e.f Feb 2018 has been calculated on the basis of Consumer Price Index (CPI) data.
Actual DA increase for bankers for Feb 2018 to April 2018
We have calculated the increase in DA slabs payable for the month of Feb 2018 to April 2018. DA payable on DA slabs is 0.10 percent so percentage increase in DA comes out to be 1.1 percent.
Actual DA increase calculation for bank employees
CPI Data published by Labour Bureau with 2001 as base year
October 2017 – 287 (published)
November 2017 – 288 (published)
December 2017 – 286 (published)
After Multiplying it with conversion factor (4.63 x 4.93)
Consumer Price Index (CPI) for October 2017 = (287 x 4.63 x 4.93) = 6551.03
Consumer Price Index (CPI) for November 2017 = (288 x 4.63 x 4.93) = 6573.85
Consumer Price Index (CPI) for December 2017 = (286 x 4.63 x 4.93) = 6528.20
- Average CPI = (6551.03+6573.85+6528.20)/3 = 6551.02
- Deducting 4440 slabs which are merged in basic pay as per 10thBPS = (6573.85-4440) = 2111.02
- Divide 2133.85 by 4 to calculate DA slabs for Quarter = (2111.02/4)=527.76 or 527
- So DA slabs for next quarter i.e, February 2018 to April 2018will be 527 on which 0.10 percent DA is payable.
- So DA slabs for February 2018 , March 2018 and April 2018 will be 52.70 percent.
- Increase in DA slabs = 527-516(previous quarter) = 11 slabs
So Actual DA percentage increase for Feb, March and April 2018 will be 1.1 percent.
