DA FOR BANKERS FROM MAY 2023

Are you looking to know about dearness allowance for banker from May 2023? If yes, then you came to article.  Every year bankers DA will be revised four times. Every year Bankers Dearness Allowance is revised in the months of

1. February
2. May
3. August
4. November

DA CALCULATION FOR THE MONTH OF MAY 2023

In this article you will get to know about expected bankers DA from May 2023. To calculate Bankers Dearness Allowance for the month of May 2023, we need CPI (Consumer Price Index) for the month January 2023, February 2023 and March 2023. We get this CPI index subsequent month. January 2023 CPI index we get on 28^th February 2023 and February 2023 CPI index we get on 31^st March 2023 and March 2023 CPI index we receive on 30^th April 2023. This CPI index always we get one month late.

December 2023 CPI Index is 132.30

January 2023 CPI Index is 132.80

There is 0.50 increase in CPI Index in the month January 2023 compared to December 2022. On this basis we can expect for the month of February 2023 and March 2023 expected CPI Index will be.

Expected February CPI Index will be 133.30

Expected March CPI Index will be 133.80

Now we need to add January 2023 to March 2023 CPI Index figures

=132.80+133.30+133.80 / 3

=399.90/3

=133.30 (Average)

Now we need to multiply this figure to Base Year table.

=133.30*2.88*4.93*4.63

=8762.95

=8763/-

We need to subtract from 6352. Its is because in 11 BPS 6352 points merged in the DA.

=8763-6352

=2411/- (Remaining points left)

Now we need to covert this points to slabs. To cover this points to slabs we need divide it from 4.

=2411/4

=602.75 Slabs

EXPECTED DA FOR BANKER MAY 2023

Now we need to convert these slabs to percentage. Its because DA calculated in percentage. To convert this into percentage we need to multiply with 0.07 its because according to 11 BPS 1 slab is equal to 0.07

=602.75*0.07

=42.19%

Expected DA for Banker in the month of May 2023 only 42.19%.

Usually there is very less DA hike expected in the month of May 2023.  Dear reader you can check dearness allowance data in IBA website.

CONCLUSION

Dear reader in this article you get to know about expected bankers’ dearness allowance and da calculations etc. You are requested to check out other banking related articles in this website. If you have any query regarding this article kindly comment below.  

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