The average index number for April 2019 to June 2019 works out to 7172. Therefore Bank Pensioners would get 70 slabs to increase as dearness relief for the half-year August 2019 – February 2020. The following chart shows the rate of dearness relief applicable to bank pensioners who have retired on various dates.
The percentage of Dearness Relief (DR) payable to the bank pensioners for the half year August 2019 to January 2020 will be as under.
| No of slabs | Rate per Slab @ | Percentage of DR payable | DR on Basic Pension (Before commutation) |
| 681 | 0.10 | 68.10% | Basic Pension × 68.10% |
| No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
| 1084 | 0.15 | 162.60% | Basic Pension× 162.60 % |
| No of slabs | Rate per Slab | Percentage of DR payable | DR on Basic Pension (Before commutation) |
| 1219 | 0.18 | 219.42% | Basic Pension× 219.42 % |
| Basic pension (before commutation) | DR amount |
| Up to basic pension 3550 | Basic Pension×328.80 % |
| Basic pension from 3551 to 5650 (2100) | 11672.40 + for the basic pension in excess of @274% |
| Basic pension from 5651 to 6010 (360) | 17426.40 +for basic pension in excess of 5650 up to 6010 @ 164.40% |
| Basic pension 6011 and above | 18018.24 + for the basic pension in excess of 6010 @ 82% |
| Basic pension (before commutation) | DR Amount |
| Up to basic pension 2400 | 526.40% × basic pension |
| Basic pension from 2401 to 3850 (1450) | 12633 + from 2401 up to 3850 @ @436.16% |
| Basic pension from 3851 to 4100 (250) | 18957.32 + for pension in excess of 3851 up to 4100 @ 255.68% |
| Basic pension 4101 and above | 19596.32. +for pension in excess of 4100 @ 135.09% |
Average index number 7167 (1641 slabs)
Retired on or after 1.1.86 and before 1st November 1992/1st July 1993 and before 01.11.2002
600 points merger 7167-600= 6567/4=1641 slabs
| Basic pension | DR amount on 1641 slabs |
| Basic pension up to 1250 | Basic Pension ×1099.47% |
| Basic pension from 1251 to 2000 (750) | Rs.13743.37+for the basic pension in excess of Rs.1250 @902.55% |
| Basic pension from 2001 to 2130 (130) | Rs.25025.24+for the basic pension in excess of Rs.2000@541.53% |
| Basic pension from 2131 above | Rs.25729.22 for the basic pension in excess of Rs.2130 @ 27897% |
Accounting is a multifaceted discipline. It caters to the diverse informational needs of stakeholders within…
As the name says ‘computerised accounting’ is the use of computers, software, and hardware to…
The Supreme Court today overruled a 2008 decision by the National Consumer Disputes Redressal Commission…
The Bank’s financial statements are prepared under the historical cost convention, on the accrual basis…
The term "accounting treatment" represents the prescribed manner or method in which an accountant records…
The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the…