Are you looking to know about dearness allowance for banker from AUGUST 2023? If yes, then you came to place. Every year bankers DA will be revised four times. Every year Bankers Dearness Allowance is revised in the months of February, May, August and November.
DA CALCULATION FOR THE MONTH OF AUGUST 2023
In this article you will get to know about expected bankers DA from AUGUST 2023. To calculate Bankers Dearness Allowance for the month of AUGUST 2023, we need CPI (Consumer Price Index) for the month April 2023, May 2023 and June 2023. We get this CPI index subsequent month. April 2023 CPI index we get on 31st May 2023 and May 2023 CPI index we get on 30th June 2023 and June 2023 CPI index we receive on 31st July 2023. This CPI index always we get one month late.
March 2023 CPI Index is 133.30
April 2023 CPI Index is 134.02
There is 0.72 increase in CPI Index in the month April 2023 compared to March 2023. On this basis we can expect for the month of May 2023 and June 2023 expected CPI Index will be.
| April 2023 CPI Index is 134.02 |
| Expected May 2023 CPI Index will be 134.74 |
| Expected June 2023 CPI Index will be 135.46 |
| =134.02+134.74+135.46 |
| =404.22 |
| =134.74 ( After taking Average of the 3 months) |
| =134.742.884.93*4.63 |
| =8857.62 |
BPS 6352 points already merged in the DA hence need to deduct in the the result ( 8858-6352)
=2506/- 2506/4 (Converted to slabs)
=626.50 Slabs
EXPECTED DA FOR BANKER AUGUST 2023
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
=626.50*0.07
=43.86%
Expected DA for Banker in the month of AUGUST 2023 only 43.86%
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.