Good News!!! Central Government Employees Dearness Allowance Hiked, Now Get This Much from September

There is good news for central government employees working in government banks. Now, from September, they will get an increased salary, as their Dearness Allowance (DA) has been increased by 3.6 per cent.  

It is to be noted that, this increase is for the August-October quarter. An order also in this matter has been issued by the Indian Banks Association. The copy of this order is with 'Zee Business'. As per the order, the AIACPI (All India Average Consumer Price Index) data for June 2019 has arrived. It mentioned that, the average CPI in April 2019 was 7121.68 which increased to 7167.33 in May. In June, it reached 7212.98. 

How DA will be calculated? 

DA slab 7167.33-4440 = 2723.33/4 = 681 (68.1%) 

Slab in previous quarter = 645 (64.5%) 

How much will it get increased? 

For Example: Starting Basic pay of SBI PO is Rs 27,620. With a 3.6 percent increase in DA, salary will increase by about Rs 1000. At the same time, the salary of the top officers will increase by thousands of rupees. 

Demand for change in pension system: 

Interestingly, the Forum of Retired Bank Employees has demanded changes in the system in the banking sector, improvement in family pension and group health insurance at a lower premium like the existing employees.  

Ashwini Rana, former general secretary of the National Organization of Bank Workers, stated that the pension and salary of central employees is increasing with time. However, there is no change in the pension scheme in banks. 

Family pension is also very less: 

Rana added that, the family pension for bank employees is also very low. It is 15 percent of the last basic salary, and for central government employees it is 30 percent without limit.