DA FOR BANKERS FROM AUGUST 2023 ONLY 44.24%

DA FOR BANKERS FROM AUGUST 2023

Are you looking to know about DA for bankers from August 2023?  If yes, then you came to article/blog.  

Dearness Allowance is one of the important components of Bank employee’s salary. Its based-on impact of inflation and ensure that bank employees purchasing power remain the same. Dearness Allowance is revised based on CPI Index (Consumer Price Index)

Every year Bankers Dearness Allowance will be revised four times. Every year Bankers Dearness Allowance is revised in the months of

SL MONTHS
1. February
2. May
3. August
4. November
BANK EMPLOYEES DA PAYABLE MONTHS

DA CALCULATION FOR THE MONTH OF AUGUST 2023

In this article you will get to know about expected bankers DA from August 2023. 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 August 2023, we need know about CPI (Consumer Price Index) for the month April 2023, May 2023 and June 2023. We get this CPI index subsequent month. April 2023 CPI index we get on 31st May 2023 and May 2023 CPI index we get on 30th June 2023 and June 2023 CPI index we receive on 31st July 2023. This CPI index always we get one month late.

DA CALCULATIONS

March 2023 CPI Index is 133.30

April 2023 CPI Index is 134.20 

There is 0.72 increase in CPI Index in the month April 2023 compared to March 2023. On this basis we can expect for the month of May 2023 and June 2023 expected CPI Index will be.

May 2023 CPI Index is 134.70

June 2023 CPI Index will be 136.40

Now we need to add April 2023 to June 2023 CPI Index figures

=134.20+134.70+136.40 / 3

=405.30/3

=135.10 (Average)

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

=135.10*2.88*4.93*4.63

=8881.28

=8881/-

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

=8881-6352

=2529/- (Remaining points left)

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

=2529/4

=632.25 Slabs

EXPECTED DA FOR BANKERS AUGUST 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 its because according to 11 BPS 1 slab is equal to 0.07

=632*0.07

=44.24%

ALSO READ: DA FOR BANKERS FROM NOVEMBER 2023

TYPESTAGEBASIC SALARYMAY 2023_DA 41.72%AUGUST 2023_ DA 44.24%INCREASE
SUB-STAFF1 14,500.00 7,291.82 7,732.27 440.45
SUB-STAFF2 15,000.00 7,534.63 7,989.74 455.11
SUB-STAFF3 15,500.00 7,777.44 8,247.22 469.78
SUB-STAFF4 16,000.00 8,020.25 8,504.70 484.44
SUB-STAFF5 16,500.00 8,263.06 8,762.17 499.11
SUB-STAFF6 17,115.00 8,561.72 9,078.87 517.15
SUB-STAFF7 17,730.00 8,860.38 9,395.57 535.19
SUB-STAFF8 18,345.00 9,159.03 9,712.26 553.23
SUB-STAFF9 18,960.00 9,457.69 10,028.96 571.27
SUB-STAFF10 19,575.00 9,756.35 10,345.66 589.31
SUB-STAFF11 20,315.00 10,115.71 10,726.72 611.02
SUB-STAFF12 21,055.00 10,475.07 11,107.79 632.72
SUB-STAFF13 21,795.00 10,834.43 11,488.85 654.43
SUB-STAFF14 22,535.00 11,193.78 11,869.92 676.13
SUB-STAFF15 23,405.00 11,616.27 12,317.93 701.65
SUB-STAFF16 24,275.00 12,038.76 12,765.94 727.17
SUB-STAFF17 25,145.00 12,461.26 13,213.95 752.69
SUB-STAFF18 26,145.00 12,946.88 13,728.90 782.03
SUB-STAFF19 27,145.00 13,432.50 14,243.86 811.36
SUB-STAFF20 28,145.00 13,918.12 14,758.81 840.69
SUB-STAFF21 29,145.00 14,403.74 15,273.76 870.02
SUB-STAFF22 30,145.00 14,889.36 15,788.72 899.36
SUB-STAFF23 31,145.00 15,374.98 16,303.67 928.69
SUB-STAFF24 32,145.00 15,860.60 16,818.62 958.02
SUB-STAFF25 33,145.00 16,346.22 17,333.58 987.36
SUB-STAFF26 34,145.00 16,831.84 17,848.53 1,016.69
SUB-STAFF27 35,145.00 17,317.46 18,363.48 1,046.02
SUB-STAFF28 36,145.00 17,803.08 18,878.44 1,075.35
SUB-STAFF29 37,145.00 18,288.70 19,393.39 1,104.69
CLERK1 17,900.00 8,942.93 9,483.11 540.18
CLERK2 18,900.00 9,428.55 9,998.06 569.51
CLERK3 19,900.00 9,914.17 10,513.02 598.84
CLERK4 20,900.00 10,399.79 11,027.97 628.18
CLERK5 22,130.00 10,997.11 11,661.36 664.25
CLERK6 23,360.00 11,594.42 12,294.76 700.33
CLERK7 24,590.00 12,191.74 12,928.15 736.41
CLERK8 26,080.00 12,915.31 13,695.43 780.12
CLERK9 27,570.00 13,638.89 14,462.71 823.83
CLERK10 29,060.00 14,362.46 15,229.99 867.53
CLERK11 30,550.00 15,086.04 15,997.27 911.24
CLERK12 32,280.00 15,926.16 16,888.14 961.98
CLERK13 34,010.00 16,766.28 17,779.01 1,012.73
CLERK14 35,740.00 17,606.41 18,669.88 1,063.47
CLERK15 37,470.00 18,446.53 19,560.75 1,114.22
CLERK16 39,200.00 19,286.66 20,451.62 1,164.97
CLERK17 40,930.00 20,126.78 21,342.49 1,215.71
CLERK18 42,660.00 20,966.90 22,233.36 1,266.46
CLERK19 45,930.00 22,554.88 23,917.26 1,362.38
CLERK20 47,920.00 23,521.27 24,942.02 1,420.75
CLERK21 49,910.00 24,487.65 25,966.77 1,479.12
CLERK22 51,900.00 25,454.04 26,991.53 1,537.49
CLERK23 53,890.00 26,420.42 28,016.29 1,595.86
CLERK24 55,880.00 27,386.81 29,041.05 1,654.24
CLERK25 57,870.00 28,353.20 30,065.80 1,712.61
CLERK26 59,860.00 29,319.58 31,090.56 1,770.98
CLERK27 61,850.00 30,285.97 32,115.32 1,829.35
CLERK28 63,840.00 31,252.35 33,140.08 1,887.73
CLERK29 65,830.00 32,218.74 34,164.84 1,946.10
OFFICERS I TO III1 36,000.00 17,732.67 18,803.77 1,071.10
OFFICERS I TO III2 37,490.00 18,456.24 19,571.05 1,114.81
OFFICERS I TO III3 38,980.00 19,179.82 20,338.33 1,158.51
OFFICERS I TO III4 40,470.00 19,903.39 21,105.61 1,202.22
OFFICERS I TO III5 41,960.00 20,626.97 21,872.89 1,245.92
OFFICERS I TO III6 43,450.00 21,350.54 22,640.17 1,289.63
OFFICERS I TO III7 44,940.00 22,074.12 23,407.45 1,333.34
OFFICERS I TO III8 46,430.00 22,797.69 24,174.74 1,377.04
OFFICERS I TO III9 48,170.00 23,642.67 25,070.75 1,428.08
OFFICERS I TO III10 49,910.00 24,487.65 25,966.77 1,479.12
OFFICERS I TO III11 51,900.00 25,454.04 26,991.53 1,537.49
OFFICERS I TO III12 53,890.00 26,420.42 28,016.29 1,595.86
OFFICERS I TO III13 55,880.00 27,386.81 29,041.05 1,654.24
OFFICERS I TO III14 57,870.00 28,353.20 30,065.80 1,712.61
OFFICERS I TO III15 59,860.00 29,319.58 31,090.56 1,770.98
OFFICERS I TO III16 61,850.00 30,285.97 32,115.32 1,829.35
OFFICERS I TO III17 63,840.00 31,252.35 33,140.08 1,887.73
OFFICERS I TO III18 65,830.00 32,218.74 34,164.84 1,946.10
OFFICERS I TO III19 67,820.00 33,185.12 35,189.59 2,004.47
OFFICERS I TO III20 69,810.00 34,151.51 36,214.35 2,062.84
OFFICERS I TO III21 71,800.00 35,117.89 37,239.11 2,121.22
OFFICERS I TO III22 73,790.00 36,084.28 38,263.87 2,179.59
OFFICERS I TO III23 76,010.00 37,162.36 39,407.06 2,244.71
OFFICERS I TO III24 78,230.00 38,240.44 40,550.26 2,309.82
OFFICERS I TO III25 80,450.00 39,318.51 41,693.46 2,374.94
OFFICERS I TO III26 82,670.00 40,396.59 42,836.65 2,440.06
OFFICERS I TO III27 84,890.00 41,474.67 43,979.85 2,505.18
OFFICERS I TO III28 87,110.00 42,552.75 45,123.05 2,570.30
OFFICERS I TO III29 89,330.00 43,630.83 46,266.25 2,635.42
OFFICERS I TO III30 89,610.00 43,766.80 46,410.43 2,643.63
OFFICERS I TO III31 92,110.00 44,980.85 47,697.82 2,716.96
SCALE IV, V1 76,010.00 37,162.36 39,407.06 2,244.71
SCALE IV, V2 78,230.00 38,240.44 40,550.26 2,309.82
SCALE IV, V3 80,450.00 39,318.51 41,693.46 2,374.94
SCALE IV, V4 82,670.00 40,396.59 42,836.65 2,440.06
SCALE IV, V5 84,890.00 41,474.67 43,979.85 2,505.18
SCALE IV, V6 87,390.00 42,688.72 45,267.24 2,578.51
SCALE IV, V7 89,890.00 43,902.77 46,554.62 2,651.85
SCALE IV, V8 92,390.00 45,116.83 47,842.00 2,725.18
SCALE IV, V9 94,890.00 46,330.88 49,129.39 2,798.51
SCALE IV, V10 95,120.00 46,442.57 49,247.83 2,805.26
SCALE IV, V11 97,620.00 47,656.62 50,535.21 2,878.59
SCALE IV, V12 100,350.00 48,982.37 51,941.03 2,958.67
SCALE IV, V13 103,320.00 50,424.66 53,470.45 3,045.78
SCALE VI, VII1 104,240.00 50,871.43 53,944.20 3,072.77
SCALE VI, VII2 107,210.00 52,313.73 55,473.62 3,159.89
SCALE VI, VII3 110,180.00 53,756.02 57,003.03 3,247.01
SCALE VI, VII4 113,150.00 55,198.31 58,532.44 3,334.13
SCALE VI, VII5 116,120.00 56,640.61 60,061.85 3,421.24
SCALE VI, VII6 119,340.00 58,204.31 61,720.00 3,515.70
SCALE VI, VII7 122,560.00 59,768.01 63,378.15 3,610.15
SCALE VI, VII8 125,780.00 61,331.70 65,036.30 3,704.60
SCALE VI, VII9 129,000.00 62,895.40 66,694.45 3,799.05

Expected DA for Banker in the month of August 2023 only 44.24%.

IMPACT ON BANKERS:

  • Bankers all over the country are happy and relieved about the recent increase in Dearness Allowance (DA).
  • DA is like an extra bonus added to their salary to help them deal with rising living costs.
  • This increase directly impacts their take-home pay, meaning they will have more money in their hands.
  • Bankers work hard to provide important financial services to people, so any extra money they get is appreciated.
  • The DA increase shows that their efforts are recognized and valued.
  • It also helps improve their overall financial situation and well-being.
  • As the cost of living keeps going up, the DA hike is much-needed support for bankers.
  • It ensures that their salaries can still cover their basic expenses like food and housing.
  • The timing of this DA increase in August 2023 is crucial, as the economy is recovering from the impact of the global pandemic.
  • Bankers have been working hard during these tough times, and the DA increase boosts their morale and dedication.
  • When bankers have more money to spend, it benefits the economy as they can buy more things, leading to more job opportunities and an improvement in the overall standard of living.
  • Even though the DA increase may not be huge, it still makes a difference for bankers, lessening their financial burden and showing appreciation for their hard work.

CONCLUSION:

Dear reader in this article you get to know about expected bankers’ dearness allowance for the month of August 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.  

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