Bank Employee DA Rate | New DA from August 2023

Find new DA for Bankers to be paid from May (01.08.2023), Just check the present and new expected dearness allowance of Bankers 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 DA for Bankers from May 2023 is 41.92% (Expecting) which calculates on the basis of Bank employee basic salary, wherein this quarter, the DA for public sector bank employees may hold an increase upto 0.76% Dearness Allowance in their salary from May 2023 to July 2023 which increase their total salary.

Let’s check the Bank DA for workmen and officer employees in Public Sector Banks and some private banks are considered as per the below DA rate.

Bank Employee DA Chart

Effective From % DA Rate (Increased / Decreased) % of DA Rate Payable No: of Slabs Average CPI
01.08.2023 2.54 44.26
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
Bank Employee DA Rate History Chart

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 DA for Bankers 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.

Check Insurance Employee DA New Slabs

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 for bankers applicable for all bank employees for the next quarter from May 2023 after announcing price index numbers from Jan 2023 to March 2023.

Leave a Comment