Teaser for Bankers - Dearness allowance for government employees hiked to 7%

Banker's union are demanding for early settlement of their 11th Bipartite wage revision and they are denied for weak earning of banks where as Central Government employees dearness allowance hiked by 2%. Banker's have to decide now about their next plan. 


The dearness allowance (DA) for 11 million government employees and pensioners to 7% from 5%, from 1 January 2018. 

The DA hike is made on the recommendations of the 7th Pay Commission for central government employees. “The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners from 1 January 2018 representing an increase of 2% over the existing rate of 5% of the Basic Pay/Pension, to compensate for price rise,” an official statement said. 


This hike will benefit about 48.41 lakh central government employees and 61.17 lakh pensioners. The combined impact on the exchequer on account of both DA and DR would be Rs6,077.72 crore per annum, and Rs7,090.68 crore in 2018-19.
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