In this article, we will discuss about Dearness Allowance (DA) for bankers, specifically in November 2023, where it stands at 48.51%. DA is a pivotal component of a bank employee’s salary, adjusting for the impact of inflation to maintain their purchasing power.
Bankers’ DA for November 2023:
DA for bankers in November 2023 stands at 48.51%. This percentage is a crucial addition to a bank employee’s total salary, significantly affecting their take-home pay.
Regulating the Rates:
The Indian Bank Association (IBA) and the Reserve Bank of India collaboratively determine the Dearness Rates for bankers, ensuring a fair and balanced approach.
Calculating DA for November 2023:
To compute DA for November 2023, we must consider the Consumer Price Index (CPI) for July 2023, August 2023, and September 2023. It’s important to note that we receive CPI data with a one-month lag.
CPI Index Data:
May 2023 CPI Index: 134.70
June 2023 CPI Index: 136.40
In the last quarter (April 2023 to June 2023), the CPI Index increased on average by 1.00 basis points. Based on this trend, we can estimate the CPI Index for July, August, and September 2023:
July 2023 CPI Index: 139.70
August 2023 CPI Index: 139.20
September 2023 CPI Index: 137.50
Monthly Variations:
In August 2023, the All-India CPI-IW declined by 0.5 points, settling at 139.2, a 0.36% decrease compared to the previous month. In September 2023, it dropped by 1.7 points, reaching 137.50, influenced primarily by changes in the food & beverages group.
Calculating DA:
To calculate DA, we sum the CPI Index figures for July, August, and September, and then multiply the result by the base year table:
Average CPI Index = (139.70 + 139.20 + 137.50) / 3 = 138.80
DA = 138.80 * 2.88 * 4.93 * 4.63 = 9124.52
Adjusted DA = 9125 (after merging 6352 points)
Converting to Slabs:
The remaining points, 2773, are converted into slabs by dividing by 4, resulting in 693.25 slabs.
Percentage Calculation:
DA is typically calculated in percentage terms. To convert slabs to percentage, we multiply by 0.07 (as per 11 BPS standards):
DA Percentage = 693.25 * 0.07 = 48.51%
Clerk da for bankers (clerk) from November 2023
| Category | Stage | Basic pay | Aug | Nov | Increase |
| CLERK | 1 | 17,900.00 | 9,483.11 | 10,398.41 | 915.3 |
| CLERK | 2 | 18,900.00 | 9,998.06 | 10,963.07 | 965.01 |
| CLERK | 3 | 19,900.00 | 10,513.02 | 11,527.72 | 1014.7 |
| CLERK | 4 | 20,900.00 | 11,027.97 | 12,092.38 | 1064.41 |
| CLERK | 5 | 22,130.00 | 11,661.36 | 12,786.91 | 1125.55 |
| CLERK | 6 | 23,360.00 | 12,294.76 | 13,481.43 | 1186.67 |
| CLERK | 7 | 24,590.00 | 12,928.15 | 14,175.96 | 1247.81 |
| CLERK | 8 | 26,080.00 | 13,695.43 | 15,017.30 | 1321.87 |
| CLERK | 9 | 27,570.00 | 14,462.71 | 15,858.64 | 1395.93 |
| CLERK | 10 | 29,060.00 | 15,229.99 | 16,699.97 | 1469.98 |
| CLERK | 11 | 30,550.00 | 15,997.27 | 17,541.31 | 1544.04 |
| CLERK | 12 | 32,280.00 | 16,888.14 | 18,518.17 | 1630.03 |
| CLERK | 13 | 34,010.00 | 17,779.01 | 19,495.02 | 1716.01 |
| CLERK | 14 | 35,740.00 | 18,669.88 | 20,471.88 | 1802 |
| CLERK | 15 | 37,470.00 | 19,560.75 | 21,448.74 | 1887.99 |
| CLERK | 16 | 39,200.00 | 20,451.62 | 22,425.59 | 1973.97 |
| CLERK | 17 | 40,930.00 | 21,342.49 | 23,402.45 | 2059.96 |
| CLERK | 18 | 42,660.00 | 22,233.36 | 24,379.30 | 2145.94 |
| CLERK | 19 | 45,930.00 | 23,917.26 | 26,225.73 | 2308.47 |
| CLERK | 20 | 47,920.00 | 24,942.02 | 27,349.39 | 2407.37 |
| CLERK | 21 | 49,910.00 | 25,966.77 | 28,473.06 | 2506.29 |
| CLERK | 22 | 51,900.00 | 26,991.53 | 29,596.73 | 2605.2 |
| CLERK | 23 | 53,890.00 | 28,016.29 | 30,720.39 | 2704.1 |
| CLERK | 24 | 55,880.00 | 29,041.05 | 31,844.06 | 2803.01 |
| CLERK | 25 | 57,870.00 | 30,065.80 | 32,967.73 | 2901.93 |
| CLERK | 26 | 59,860.00 | 31,090.56 | 34,091.39 | 3000.83 |
| CLERK | 27 | 61,850.00 | 32,115.32 | 35,215.06 | 3099.74 |
| CLERK | 28 | 63,840.00 | 33,140.08 | 36,338.72 | 3198.64 |
| CLERK | 29 | 65,830.00 | 34,164.84 | 37,462.39 | 3297.55 |
Da for bankers (sub staff) from November 2023
| Category | Stage | Basic pay | Aug | Nov | Increase |
| SUB-STAFF | 1 | 14,500.00 | 7,732.27 | 8,478.58 | 746.31 |
| SUB-STAFF | 2 | 15,000.00 | 7,989.74 | 8,760.91 | 771.17 |
| SUB-STAFF | 3 | 15,500.00 | 8,247.22 | 9,043.23 | 796.01 |
| SUB-STAFF | 4 | 16,000.00 | 8,504.70 | 9,325.56 | 820.86 |
| SUB-STAFF | 5 | 16,500.00 | 8,762.17 | 9,607.89 | 845.72 |
| SUB-STAFF | 6 | 17,115.00 | 9,078.87 | 9,955.15 | 876.28 |
| SUB-STAFF | 7 | 17,730.00 | 9,395.57 | 10,302.42 | 906.85 |
| SUB-STAFF | 8 | 18,345.00 | 9,712.26 | 10,649.68 | 937.42 |
| SUB-STAFF | 9 | 18,960.00 | 10,028.96 | 10,996.95 | 967.99 |
| SUB-STAFF | 10 | 19,575.00 | 10,345.66 | 11,344.21 | 998.55 |
| SUB-STAFF | 11 | 20,315.00 | 10,726.72 | 11,762.05 | 1035.33 |
| SUB-STAFF | 12 | 21,055.00 | 11,107.79 | 12,179.90 | 1072.11 |
| SUB-STAFF | 13 | 21,795.00 | 11,488.85 | 12,597.75 | 1108.9 |
| SUB-STAFF | 14 | 22,535.00 | 11,869.92 | 13,015.59 | 1145.67 |
| SUB-STAFF | 15 | 23,405.00 | 12,317.93 | 13,506.84 | 1188.91 |
| SUB-STAFF | 16 | 24,275.00 | 12,765.94 | 13,998.09 | 1232.15 |
| SUB-STAFF | 17 | 25,145.00 | 13,213.95 | 14,489.35 | 1275.4 |
| SUB-STAFF | 18 | 26,145.00 | 13,728.90 | 15,054.00 | 1325.1 |
| SUB-STAFF | 19 | 27,145.00 | 14,243.86 | 15,618.66 | 1374.8 |
| SUB-STAFF | 20 | 28,145.00 | 14,758.81 | 16,183.31 | 1424.5 |
| SUB-STAFF | 21 | 29,145.00 | 15,273.76 | 16,747.97 | 1474.21 |
| SUB-STAFF | 22 | 30,145.00 | 15,788.72 | 17,312.63 | 1523.91 |
| SUB-STAFF | 23 | 31,145.00 | 16,303.67 | 17,877.28 | 1573.61 |
| SUB-STAFF | 24 | 32,145.00 | 16,818.62 | 18,441.94 | 1623.32 |
| SUB-STAFF | 25 | 33,145.00 | 17,333.58 | 19,006.60 | 1673.02 |
| SUB-STAFF | 26 | 34,145.00 | 17,848.53 | 19,571.25 | 1722.72 |
| SUB-STAFF | 27 | 35,145.00 | 18,363.48 | 20,135.91 | 1772.43 |
| SUB-STAFF | 28 | 36,145.00 | 18,878.44 | 20,700.57 | 1822.13 |
| SUB-STAFF | 29 | 37,145.00 | 19,393.39 | 21,265.22 | 1871.83 |
Da for bankers (officers 1 to iii) from November 2023
| Category | Stage | Basic pay | Aug | Nov | Increase |
| OFFICERS I TO III | 1 | 36,000.00 | 18,803.77 | 20,618.69 | 1814.92 |
| OFFICERS I TO III | 2 | 37,490.00 | 19,571.05 | 21,460.03 | 1888.98 |
| OFFICERS I TO III | 3 | 38,980.00 | 20,338.33 | 22,301.37 | 1963.04 |
| OFFICERS I TO III | 4 | 40,470.00 | 21,105.61 | 23,142.70 | 2037.09 |
| OFFICERS I TO III | 5 | 41,960.00 | 21,872.89 | 23,984.04 | 2111.15 |
| OFFICERS I TO III | 6 | 43,450.00 | 22,640.17 | 24,825.38 | 2185.21 |
| OFFICERS I TO III | 7 | 44,940.00 | 23,407.45 | 25,666.72 | 2259.27 |
| OFFICERS I TO III | 8 | 46,430.00 | 24,174.74 | 26,508.06 | 2333.32 |
| OFFICERS I TO III | 9 | 48,170.00 | 25,070.75 | 27,490.56 | 2419.81 |
| OFFICERS I TO III | 10 | 49,910.00 | 25,966.77 | 28,473.06 | 2506.29 |
| OFFICERS I TO III | 11 | 51,900.00 | 26,991.53 | 29,596.73 | 2605.2 |
| OFFICERS I TO III | 12 | 53,890.00 | 28,016.29 | 30,720.39 | 2704.1 |
| OFFICERS I TO III | 13 | 55,880.00 | 29,041.05 | 31,844.06 | 2803.01 |
| OFFICERS I TO III | 14 | 57,870.00 | 30,065.80 | 32,967.73 | 2901.93 |
| OFFICERS I TO III | 15 | 59,860.00 | 31,090.56 | 34,091.39 | 3000.83 |
| OFFICERS I TO III | 16 | 61,850.00 | 32,115.32 | 35,215.06 | 3099.74 |
| OFFICERS I TO III | 17 | 63,840.00 | 33,140.08 | 36,338.72 | 3198.64 |
| OFFICERS I TO III | 18 | 65,830.00 | 34,164.84 | 37,462.39 | 3297.55 |
| OFFICERS I TO III | 19 | 67,820.00 | 35,189.59 | 38,586.06 | 3396.47 |
| OFFICERS I TO III | 20 | 69,810.00 | 36,214.35 | 39,709.72 | 3495.37 |
| OFFICERS I TO III | 21 | 71,800.00 | 37,239.11 | 40,833.39 | 3594.28 |
| OFFICERS I TO III | 22 | 73,790.00 | 38,263.87 | 41,957.06 | 3693.19 |
| OFFICERS I TO III | 23 | 76,010.00 | 39,407.06 | 43,210.59 | 3803.53 |
| OFFICERS I TO III | 24 | 78,230.00 | 40,550.26 | 44,464.13 | 3913.87 |
| OFFICERS I TO III | 25 | 80,450.00 | 41,693.46 | 45,717.67 | 4024.21 |
| OFFICERS I TO III | 26 | 82,670.00 | 42,836.65 | 46,971.20 | 4134.55 |
| OFFICERS I TO III | 27 | 84,890.00 | 43,979.85 | 48,224.74 | 4244.89 |
| OFFICERS I TO III | 28 | 87,110.00 | 45,123.05 | 49,478.28 | 4355.23 |
| OFFICERS I TO III | 29 | 89,330.00 | 46,266.25 | 50,731.82 | 4465.57 |
| OFFICERS I TO III | 30 | 89,610.00 | 46,410.43 | 50,889.92 | 4479.49 |
| OFFICERS I TO III | 31 | 92,110.00 | 47,697.82 | 52,301.56 | 4603.74 |
Da for bankers (scale iv,v) from November 2023
| Category | Stage | Basic pay | Aug | Nov | Increase |
| SCALE IV, V | 1 | 76,010.00 | 39,407.06 | 43,210.59 | 3803.53 |
| SCALE IV, V | 2 | 78,230.00 | 40,550.26 | 44,464.13 | 3913.87 |
| SCALE IV, V | 3 | 80,450.00 | 41,693.46 | 45,717.67 | 4024.21 |
| SCALE IV, V | 4 | 82,670.00 | 42,836.65 | 46,971.20 | 4134.55 |
| SCALE IV, V | 5 | 84,890.00 | 43,979.85 | 48,224.74 | 4244.89 |
| SCALE IV, V | 6 | 87,390.00 | 45,267.24 | 49,636.38 | 4369.14 |
| SCALE IV, V | 7 | 89,890.00 | 46,554.62 | 51,048.02 | 4493.4 |
| SCALE IV, V | 8 | 92,390.00 | 47,842.00 | 52,459.66 | 4617.66 |
| SCALE IV, V | 9 | 94,890.00 | 49,129.39 | 53,871.31 | 4741.92 |
| SCALE IV, V | 10 | 95,120.00 | 49,247.83 | 54,001.18 | 4753.35 |
| SCALE IV, V | 11 | 97,620.00 | 50,535.21 | 55,412.82 | 4877.61 |
| SCALE IV, V | 12 | 100,350.00 | 51,941.03 | 56,954.33 | 5013.3 |
| SCALE IV, V | 13 | 103,320.00 | 53,470.45 | 58,631.36 | 5160.91 |
| SCALE VI, VII | 1 | 104,240.00 | 53,944.20 | 59,150.84 | 5206.64 |
| SCALE VI, VII | 2 | 107,210.00 | 55,473.62 | 60,827.87 | 5354.25 |
| SCALE VI, VII | 3 | 110,180.00 | 57,003.03 | 62,504.90 | 5501.87 |
| SCALE VI, VII | 4 | 113,150.00 | 58,532.44 | 64,181.93 | 5649.49 |
| SCALE VI, VII | 5 | 116,120.00 | 60,061.85 | 65,858.96 | 5797.11 |
| SCALE VI, VII | 6 | 119,340.00 | 61,720.00 | 67,677.15 | 5957.15 |
| SCALE VI, VII | 7 | 122,560.00 | 63,378.15 | 69,495.35 | 6117.2 |
| SCALE VI, VII | 8 | 125,780.00 | 65,036.30 | 71,313.54 | 6277.24 |
| SCALE VI, VII | 9 | 129,000.00 | 66,694.45 | 73,131.74 | 6437.29 |
Impact on Bankers:
The 48.51% increase in DA is excellent news for bankers, as it directly boosts their salaries, contributing to a higher take-home pay. This is an optimistic development for bankers, especially considering the expected DA hike in November 2023.
Conclusion:
This article has elucidated the intricacies of bankers’ DA for November 2023, the impact on their salaries, and the meticulous calculation process.