DA FOR BANKERS FROM NOVEMBER 2023 @48.51% LATEST GOOD NEWS FOR BANKERS

Dear Bankers welcome to Finance Diary. In this article you will get to know about DA FOR BANKERS FROM NOVEMBER 2023 is 48.51%. Dearness Allowance is one of the very important components of Bank employee’s salary.

It is based-on impact of inflation and ensure that bank employees purchasing power remain the same.

ALSO READ EXPECTED DA FOR BANKERS FROM FEBRUARY 2024

Table of Contents

DA FOR BANKERS IN NOVEMBER 2023 only 48.51 %.

Compared to August 2023 there will be a increase of 4.27% (48.51- 44.24)

Every year Bankers Dearness Allowance will be revised 4 times, in the months of February, May, August and November. Bank employees Dearness Allowance is revised based on CPI Index (Consumer Price Index)

SL	IN THE YEAR 2023 DA PAID/PAYABLE IN THE MONTHS OF
1.	FEBRUARY 2023
2.	MAY 2023
3.	AUGUST 2023
4.	NOVEMBER 2023

DA PAID/PAYABLE MONTHS IN 2023

DA FOR BANKERS FROM NOVEMBER 2023

In this article you will get to know about bankers DA from November 2023 is 48.51%. Bank employees Dearness Allowance is a percentage of the Basic salary and it will be added to employee’s total salary.

The Indian Bank Association (IBA) and Reserve Bank of India negotiate and decide the Dearness Rates for Bankers.

To calculate Bankers Dearness Allowance for the month of November 2023, we need know about CPI (Consumer Price Index) for the month July 2023, August 2023 and September 2023.

We get this CPI index subsequent month. July 2023 CPI index we get on 31^st August 2023 and August 2023 CPI index we get on 30^th September 2023 and September 2023 CPI index we receive on 31^st October 2023. This CPI index always we get one month late.

May 2023 CPI Index is 134.70

June 2023 CPI Index is 136.40

In last quarter April 2023 to June 2023 CPI Index increased on an average 1.00 basis points. On this basis we can expect for the month of July 2023 and August 2023 and September expected CPI Index will be.

July 2023 CPI Index will be 139.70

August 2023 CPI Index will be 139.20

September 2023 CPI Index will be 137.50

In August 2023, the All-India CPI-IW (Consumer Price Index for Industrial Workers) saw a decline of 0.5 points, bringing it to a total of 139.2 (one hundred thirty-nine point two).

This represents a decrease of 0.36 percent in the index over the course of one month when compared to the previous month. In contrast, during the same period last year, there was an increase of 0.23 percent in the index when comparing corresponding months.

In September 2023, the All-India CPI-IW, which measures price changes, dropped by 1.7 points, reaching 137.50. In August 2023, it was at 139.2 points.

The biggest factor causing the index to go down was the food & beverages group, which made up 1.10 percentage points of the total change.

Specific items like fresh fish, cotton seed oil, mustard oil, apples, oranges, bitter gourd, brinjal, cabbage, carrots, green chilies, ginger, lady’s finger, tomatoes, capsicum, gourds, radishes, cooking gas, and more are the reasons behind the decrease in the index.

Now we need to add July 2023 to September 2023 CPI Index figures

=139.70+139.20+137.50/ 3

=416.40/3

=138.80(Average)

Now we need to multiply this figure to Base Year table.

=138.80*2.88*4.93*4.63

=9124.52

=9125/-

We need to subtract from 6352. Its is because in 11 BPS 6352 points merged in the DA.

=9125-6352

=2773/- (Remaining points left)

Now we need to covert this points to slabs. To cover this points to slabs we need divide it from 4.

=2773/4

=693.25 Slabs

DA FOR BANKERS FROM NOVEMBER 2023

Now we need to convert these slabs to percentage.

Its because DA calculated in percentage.

To convert this into percentage we need to multiply with 0.07.

It is because according to 11 BPS 1 slab is equal to 0.07

=693*0.07

=48.51 %

DA FOR BANKERS FROM NOVEMBER 2023 only 48.51 %.

SUB STAFF DA FOR BANKERS FROM NOVEMBER 2023

TYPE	BASIC SALARY	AUGUST 2023_ DA 44.24%	NOV 2023_ DA 48.51%	INCREASE
SUB-STAFF	14,500.00	7,732.27	8,478.58	746.31
SUB-STAFF	15,000.00	7,989.74	8,760.91	771.16
SUB-STAFF	15,500.00	8,247.22	9,043.23	796.01
SUB-STAFF	16,000.00	8,504.70	9,325.56	820.86
SUB-STAFF	16,500.00	8,762.17	9,607.89	845.72
SUB-STAFF	17,115.00	9,078.87	9,955.15	876.28
SUB-STAFF	17,730.00	9,395.57	10,302.42	906.85
SUB-STAFF	18,345.00	9,712.26	10,649.68	937.42
SUB-STAFF	18,960.00	10,028.96	10,996.95	967.99
SUB-STAFF	19,575.00	10,345.66	11,344.21	998.55
SUB-STAFF	20,315.00	10,726.72	11,762.05	1,035.33
SUB-STAFF	21,055.00	11,107.79	12,179.90	1,072.11
SUB-STAFF	21,795.00	11,488.85	12,597.75	1,108.89
SUB-STAFF	22,535.00	11,869.92	13,015.59	1,145.67
SUB-STAFF	23,405.00	12,317.93	13,506.84	1,188.91
SUB-STAFF	24,275.00	12,765.94	13,998.09	1,232.16
SUB-STAFF	25,145.00	13,213.95	14,489.35	1,275.40
SUB-STAFF	26,145.00	13,728.90	15,054.00	1,325.10
SUB-STAFF	27,145.00	14,243.86	15,618.66	1,374.80
SUB-STAFF	28,145.00	14,758.81	16,183.31	1,424.51
SUB-STAFF	29,145.00	15,273.76	16,747.97	1,474.21
SUB-STAFF	30,145.00	15,788.72	17,312.63	1,523.91
SUB-STAFF	31,145.00	16,303.67	17,877.28	1,573.61
SUB-STAFF	32,145.00	16,818.62	18,441.94	1,623.32
SUB-STAFF	33,145.00	17,333.58	19,006.60	1,673.02
SUB-STAFF	34,145.00	17,848.53	19,571.25	1,722.72
SUB-STAFF	35,145.00	18,363.48	20,135.91	1,772.42
SUB-STAFF	36,145.00	18,878.44	20,700.57	1,822.13
SUB-STAFF	37,145.00	19,393.39	21,265.22	1,871.83

CLERK DA FOR BANKERS FROM NOVEMBER 2023

TYPE	BASIC SALARY	AUGUST 2023_ DA 44.24%	NOV 2023_ DA 48.51%	INCREASE
CLERK	17,900.00	9,483.11	10,398.41	915.30
CLERK	18,900.00	9,998.06	10,963.07	965.00
CLERK	19,900.00	10,513.02	11,527.72	1,014.71
CLERK	20,900.00	11,027.97	12,092.38	1,064.41
CLERK	22,130.00	11,661.36	12,786.91	1,125.54
CLERK	23,360.00	12,294.76	13,481.43	1,186.68
CLERK	24,590.00	12,928.15	14,175.96	1,247.81
CLERK	26,080.00	13,695.43	15,017.30	1,321.87
CLERK	27,570.00	14,462.71	15,858.64	1,395.93
CLERK	29,060.00	15,229.99	16,699.97	1,469.98
CLERK	30,550.00	15,997.27	17,541.31	1,544.04
CLERK	32,280.00	16,888.14	18,518.17	1,630.03
CLERK	34,010.00	17,779.01	19,495.02	1,716.01
CLERK	35,740.00	18,669.88	20,471.88	1,802.00
CLERK	37,470.00	19,560.75	21,448.74	1,887.98
CLERK	39,200.00	20,451.62	22,425.59	1,973.97
CLERK	40,930.00	21,342.49	23,402.45	2,059.96
CLERK	42,660.00	22,233.36	24,379.30	2,145.94
CLERK	45,930.00	23,917.26	26,225.73	2,308.47
CLERK	47,920.00	24,942.02	27,349.39	2,407.38
CLERK	49,910.00	25,966.77	28,473.06	2,506.29
CLERK	51,900.00	26,991.53	29,596.73	2,605.20
CLERK	53,890.00	28,016.29	30,720.39	2,704.10
CLERK	55,880.00	29,041.05	31,844.06	2,803.01
CLERK	57,870.00	30,065.80	32,967.73	2,901.92
CLERK	59,860.00	31,090.56	34,091.39	3,000.83
CLERK	61,850.00	32,115.32	35,215.06	3,099.74
CLERK	63,840.00	33,140.08	36,338.72	3,198.65
CLERK	65,830.00	34,164.84	37,462.39	3,297.56

OFFICERS I TO III DA FOR BANKERS FROM NOVEMBER 2023

TYPE	BASIC SALARY	AUGUST 2023_ DA 44.24%	NOV 2023_ DA 48.51%	INCREASE
OFFICERS I TO III	36,000.00	18,803.77	20,618.69	1,814.92
OFFICERS I TO III	37,490.00	19,571.05	21,460.03	1,888.98
OFFICERS I TO III	38,980.00	20,338.33	22,301.37	1,963.04
OFFICERS I TO III	40,470.00	21,105.61	23,142.70	2,037.09
OFFICERS I TO III	41,960.00	21,872.89	23,984.04	2,111.15
OFFICERS I TO III	43,450.00	22,640.17	24,825.38	2,185.21
OFFICERS I TO III	44,940.00	23,407.45	25,666.72	2,259.26
OFFICERS I TO III	46,430.00	24,174.74	26,508.06	2,333.32
OFFICERS I TO III	48,170.00	25,070.75	27,490.56	2,419.80
OFFICERS I TO III	49,910.00	25,966.77	28,473.06	2,506.29
OFFICERS I TO III	51,900.00	26,991.53	29,596.73	2,605.20
OFFICERS I TO III	53,890.00	28,016.29	30,720.39	2,704.10
OFFICERS I TO III	55,880.00	29,041.05	31,844.06	2,803.01
OFFICERS I TO III	57,870.00	30,065.80	32,967.73	2,901.92
OFFICERS I TO III	59,860.00	31,090.56	34,091.39	3,000.83
OFFICERS I TO III	61,850.00	32,115.32	35,215.06	3,099.74
OFFICERS I TO III	63,840.00	33,140.08	36,338.72	3,198.65
OFFICERS I TO III	65,830.00	34,164.84	37,462.39	3,297.56
OFFICERS I TO III	67,820.00	35,189.59	38,586.06	3,396.46
OFFICERS I TO III	69,810.00	36,214.35	39,709.72	3,495.37
OFFICERS I TO III	71,800.00	37,239.11	40,833.39	3,594.28
OFFICERS I TO III	73,790.00	38,263.87	41,957.06	3,693.19
OFFICERS I TO III	76,010.00	39,407.06	43,210.59	3,803.53
OFFICERS I TO III	78,230.00	40,550.26	44,464.13	3,913.87
OFFICERS I TO III	80,450.00	41,693.46	45,717.67	4,024.21
OFFICERS I TO III	82,670.00	42,836.65	46,971.20	4,134.55
OFFICERS I TO III	84,890.00	43,979.85	48,224.74	4,244.89
OFFICERS I TO III	87,110.00	45,123.05	49,478.28	4,355.23
OFFICERS I TO III	89,330.00	46,266.25	50,731.82	4,465.57
OFFICERS I TO III	89,610.00	46,410.43	50,889.92	4,479.49
OFFICERS I TO III	92,110.00	47,697.82	52,301.56	4,603.74

SCALE IV,V DA FOR BANKERS FROM NOVEMBER 2023

TYPE	BASIC SALARY	AUGUST 2023_ DA 44.24%	NOV 2023_ DA 48.51%	INCREASE
SCALE IV, V	76,010.00	39,407.06	43,210.59	3,803.53
SCALE IV, V	78,230.00	40,550.26	44,464.13	3,913.87
SCALE IV, V	80,450.00	41,693.46	45,717.67	4,024.21
SCALE IV, V	82,670.00	42,836.65	46,971.20	4,134.55
SCALE IV, V	84,890.00	43,979.85	48,224.74	4,244.89
SCALE IV, V	87,390.00	45,267.24	49,636.38	4,369.15
SCALE IV, V	89,890.00	46,554.62	51,048.02	4,493.40
SCALE IV, V	92,390.00	47,842.00	52,459.66	4,617.66
SCALE IV, V	94,890.00	49,129.39	53,871.31	4,741.92
SCALE IV, V	95,120.00	49,247.83	54,001.18	4,753.35
SCALE IV, V	97,620.00	50,535.21	55,412.82	4,877.61
SCALE IV, V	1,00,350.00	51,941.03	56,954.33	5,013.30
SCALE IV, V	1,03,320.00	53,470.45	58,631.36	5,160.91
SCALE VI, VII	1,04,240.00	53,944.20	59,150.84	5,206.64
SCALE VI, VII	1,07,210.00	55,473.62	60,827.87	5,354.26
SCALE VI, VII	1,10,180.00	57,003.03	62,504.90	5,501.87
SCALE VI, VII	1,13,150.00	58,532.44	64,181.93	5,649.49
SCALE VI, VII	1,16,120.00	60,061.85	65,858.96	5,797.11
SCALE VI, VII	1,19,340.00	61,720.00	67,677.15	5,957.15
SCALE VI, VII	1,22,560.00	63,378.15	69,495.35	6,117.20
SCALE VI, VII	1,25,780.00	65,036.30	71,313.54	6,277.24
SCALE VI, VII	1,29,000.00	66,694.45	73,131.74	6,437.28

IMPACT ON DA FOR BANKERS

DA increase is very good news for bankers, because its directly effects to their salary. It will increase their take home salary. Usually there is very more DA hike expected in the month of November 2023.

Video Credit: Dainik Portal

CONCLUSION DA FOR BANKERS

Dear reader in this article you get to know about expected DA for Bankers from November 2023, Impact of DA on Bankers and how DA will be calculated etc. You are requested to check out other banking related articles in this website. If you have any query regarding this article kindly comment below.