Dearness Relief Payable to Pensioners for the Period August 2014 to January 2015

Indian Banks’ Association


August 1, 2014

Designated Officers of all Member Banks 
which are parties to the Bipartite Settlement on Pension

Dear Sirs,

Dearness Relief payable to Pensioners for the period August 2014 to January 2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960=100) for the quarter ended June 2014 are as follows:-

Apr 2014 5523.87
May 2014 5569.52
Jun 2014 5615.17

In terms of Regulation 37 of Bank Employees’ Pension Regulations, 1995 dearness relief is payable to pensioners at rates specified in Appendix II to the Regulations.

Pending amendments to Pension Regulations, Banks may pay on ad hoc basis, the dearness relief payable to pensioners for the period August 2014 to January 2015 as per Annexure.

Yours faithfully,

K S Chauhan
Senior Vice President