WELCOME TO MY BLOG!

WELCOME TO MY BLOG!
WELCOME TO MY BLOG!

Dear reader!


*Please send news related to Bank Employees and your Queries, to my e-mail vetrinicchayam@gmail.com*

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*****CURRENT NEWS******

*Talks on 10th B.P.S between IBA and UFBU on 17.09.2014

*Consumer Price Index number for July is 252. i.e 8 point over average of last quarter. It indicates an increase of 45 slabs in D.A from Nov 2014. Points for Aug. and Sep. may increase or decrease this slabs.

*Bank employees to work from 8 A.M. to 8 P.M on Saturdays for Jan Dhan Scheme!

*Is ESOP on cards for Bank Employees?

*IBPS CWE-III-Clerk-Batch-II, 2014-15 –INDIAN BANK:
date of induction training for Clerical Candidates – Batch II, is scheduled from 07.10.2014 to 18.10.2014.

* Revised LFC encashment amount from 25.06.2014!

*Compassionate appointment for Bank Employees restored from 05.08.2014!

* Indipendent programmes on wage revision and other bank employees issuesAnnounced by AIBEA and BEFI!

*D.A. rate for Aug ,Sep ,Oct 2014: 102.45%

D.A

KNOW HOW D.A. IS CALCULATED!

1.     Labour Department will release Consumer Price Index (No.)
every month ,based on year 2001.

2.     Jan,Feb,March is one quarter. Likewise there are 4 quarters.

3. Difference between average CPI over average of previous quarter is called increase.

4. Bank D.A is calculated on CPI based on year 1960.

5. Conversion factor to year 2001  is  Index No .X 4.63 X 4.93

6. For every increase of 4 points 1 slab at the rate of 0.15% is given as D.A

7. Since everymonth’s CPI is announced on the last day of next month D.A is given effect on the subsequent month. i.e 2 months later.

EXAMPLE: for D,A Feb 2012:

APR   MAY  JUN  JULY  AUG  SEP      OCT NOV DEC 2011
---------------------------------------------------------------------------
  186      187    189      193      194  197       198  199  197
--------------------------------------------------------------------------- 
Average of Oct,Nov,Dec 2011                                                =198
On conversion =Average O N D 2011(198X4.93X4.63)        = 4519.53 
D.A already paid for Nov. 2011(i.e average of Jul,Aug,Sep)= 401 slabs = 401X4+2836  = 4440.00
 (2836 is already merged point in 9th B,P)

Increase                                                                                    = 79.53    
Slabs                                                                                         =79.53/4=19.88=19

(ONLY WHOLE NUMBERS ARE TAKEN.
DECIMELS ADJUSTED IN THE NEXT MONTH )

HENCE INCREASE FOR Feb 2012 is 19x0.15=2.85% of (B.P+SPL.ALLOW.+PQP) 
Toal D.A for Feb,Mar,Apr 2012=401+19=420 slabs=60.15%+2.85%=63%

****************************************************

D.A. History:

Month                                           SLABS                   %

Nov,Dec,Jan     2008
40                        6.00
Feb,Mar,Apr    2008
55                        8.25 
May,Jun,July   2008
63                        9.45          
Aug,Sep,Oct     2008
84                      12.60  
Nov,Dec,Jan     2009
116                   17.40
Feb,Mar,Apr    2009
133                   19.95 
May,Jun,July   2009
135                   20.25   
Aug,Sep,Oct     2009
154                   23.10
Nov,Dec,Jan     2010
213                   31.95
Feb,Mar,Apr    2010
245                   36.75
May,June,July  2010
264                   39.60
Aug,Sep,Oct     2010
272                   40.80
Nov,Dec,Jan     2011
308                   46.20
Feb,Mar,Apr    2011
333                   49.95
May,Jun,July   2011
352                   52.80
Aug,Sep,Oct     2011
360                   54.00
Nov,Dec,Jan     2012
401                   60.15
Feb,Mar,Apr    2012
420                   63.00
May,June,July  2012
428                   64.20
Aug,Sep,Oct     2012
468                   70.20
Nov,Dec.Jan     2013
510                   76.50
Feb,Mar,Apr  2013                         
535                   80.25
May,June,Jul  2013
561                   84.15
Aug,Sep,Oct  2013
593                   88.95
Nov,Dec,Jan  2014
641                   96.15
Feb, Mar, Apr 2014
666                  99.60
May,June,July 2014
650                  97.50
Aug,Sep,Oct 2014
683                 102.45%