Bank Employee DA Rate – New DA from August 2020

Find new DA rates to be paid to every bank employee after announcing CPI index numbers for this month, Just check the present and new dearness allowance and the number of slabs taken…

The Dearness Allowance of Bank employees announced quarterly based on All India Consumer Price Index Numbers (AICPIN) and effective from February, May, August and November months of every year

Bank employee Dearness Allowance in salary is a calculation of allowance paid to employees based on their work scale to compensate for the inflation, and this is calculated from a percentage of basic salary to mitigate the inflation on people.

As per current updates, the new total Dearness Allowance for Bank employees is 76.1% which is calculated on the basis of Bank employee basic salary, where in this quarter, the DA for public sector bank employees do hold an increase of 0.2% Dearness Allowance in their salary from May 2020 which boost their total salary.

Let’s check the Dearness Allowance for workmen and officer employees in public sector banks and some private banks are considered as per the below DA rate

Bank Employee DA Rate Chart

Effective From	% DA Rate (Increased / Decreased)	% of DA Rate Payable	No: of Slabs	Average CPI
August-20	1.4	77.5	775	7540.15
May-20	0.2	76.1	761	7486.9
Feb-20	4.2	75.9	759	7479.29
Nov-19	3.6	71.7	717	7311
Aug-19	3.6	68.1	681	7167.33
May-19	3.4	64.5	645	7023
Feb-19	0.4	61.1	611	6885
Nov-18	6.6	60.7	607	6871
Aug-18	1.2	54.1	541	6604
May-18	0.2	52.9	529	6559
Feb-18	1.1	52.7	527	6551
Nov-17	3.8	51.6	516	6505
Aug-17	2.2	47.8	478	6353.21
May-17	-1.3	45.6	456	6261.91
Feb-17	1.3	46.9	469	6315
Nov-16	0.1	45.6	456	6353
Aug-16	3.5	45.5	455	6261.9
May-16	-0.6	42	420	6117
Feb-16	2.8	42.6	426	6147
Nov-15	3.4	39.8	398	6033
Aug-15	-74.3	36.4	364	5896
May-15	0.6	110.7	738	5790.17
Feb-15	0.3	110.1	734	5774.95
Nov-14	–	109.8	732	5767

The allowance added in the salary is apart from basic salary and it is calculated on a defined percentage, where every bank has their pay grade defined for employees based on their location and type of work they are assigned.

Thus this increases the basic salary and the Dearness Allowance is a percentage from basic salary, and anyone who has got a higher basic salary will surely have a higher slab of Dearness Allowance, which does give them a good total NET salary.

This part of the salary is always increased and in Banks, it is estimated to have an increase in DA for every one year based on their performance, and we can update the new DA rates of bank employees from August 2020 after announcing price index numbers for June 2020.