DA for Bankers from May 2024 with Formula and Chart

Find new DA for Bankers from May 2024 (01.05.2024) to July 2024, Just check the present and new May 2024 DA for Bank employee and the number of slabs taken after the announcement of AICPIN on 07.06.2024…

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The DA for Bank employees announced quarterly based on AICPIN which is effective from February, May, August and November months of every year.

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

As per current updates, the new total present DA for Bankers is 48.51% from February 2024 to April 2024, where the confirmed DA for Bankers from May 2024 was recorded at 0.23%, which calculates on the basis of Bank employee basic salary.

In this quarter, the Bank DA for employees may hold an expected increase in Dearness Allowance in their salary from August 2024 which increases their total salary.

DA for Bankers

Let’s check the Bank DA chart applicable for workmen and officer employees in Public Sector Banks and for some private banks considered as expected and confirmed.

Effective From	% DA Rate (Increased / Decreased)	% of DA Rate Payable	No: of Slabs	Average CPI
May 2024	0.23	48.74
February 2024	0	48.51	693	9122.33
November 2023	4.27	48.51	693	9124
01.08.2023	2.52	44.24	632	8881
01.05.2023	0.56	41.72	596	8738
01.02.2023	2.24	41.16	588	8705
01.11.2022	2.1	38.92	556	8576.69
01.08.2022	3.78	36.82	526	8456.17
01.05.2022	0.07	33.04	472	8241.42
01.02.2022	2.59	32.97	471	8239.24
01.11.2021	2.59	30.38	434	8088.04
01.08.2021	2.1	27.79	397	7941.22
01.05.2021	-0.49	25.69	367	7818.51
01.02.2021	-55.72	26.18	374	7849.19
11th BPS settled
November 20	4.4	81.9	819	8190
August-20	1.4	77.5	775	7540
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 will add in the salary is apart from basic salary and calculated on a defined percentage. Every bank has their pay grade define for employees based on their location and type of work they assigned.

This increases the basic salary and the DA for Bankers is a percentage from basic salary. Anyone with a higher basic salary will surely have a higher slab of Dearness Allowance. This gives them a good total NET salary.

Also Check: Insurance Employee DA New Slabs

DA for Bankers salary always increased, with estimated increase in DA for every one on quarterly based.

Bank DA Calculation Formula

Below is the exact Bank DA calculation formula to calculate the specified period dearness allowance

• Find the Average of AICPIN for 3 months
• Get Total CPI = Average AICPIN * 4.93*4.63
• Find Gross Points with Total CPI – 6352
• DA Slabs Payable for current period = Total Points / 4
• Increase in Bank DA Slabs for this quarter = Total DA Slabs- Already Paid DA Slabs.

We update the new expected DA for bankers from August 2024 as and when released soon which applicable for all bank employees. This is applicable for the next quarter from August 2024 after announcing price index numbers.