IBA and bankers Unions have agreed on 17% hike under 12th Bipartite Settlement with 3% load factor. The calculation of new salary will be
12th BPS Dearness Allowance(DA) upto 8088 points of price index would be merged with basic pay.
A) As on date DA=44.24%
B) 8088 Points = 30.38%
C) A-B = 13.86%
C 13.86% would be reduced to 10%
New DA is 10% of new merged basic
B=30.38% will be merged to basic pay.
Calculate your new Basic Pay with 17% increase and 3% load factor
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