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Dearness Allowance increase announced for bank workers for May
DA hike: IBA announces Dearness Allowance increase in bank employee salaries for May, June, July 2026 — Details
The government has announced slight revision in Dearness Allowance (DA) for bank employees for the months of May, June and July 2026, which will increase salaries for workmen and officer employees.
Across employee levels for basic salary between ₹48,000-1,17,000, the DA increase ranges from ₹435-1,050.
Notably, this comes a week after the Finance Ministry last week announced DA revision for central government employees and pensioners (including railways and defence personnel), from 58% to 60% of Basic Pay, with effect from 1 January 2026.
What is the DA increase announced?
In a notice released by the Indian Banks' Association (IBA) dated 2 May, the body said that for employees under XII BPS / 9th Note, the increase is as confirmed by the All-India Average Consumer Price Index for Industrial Workers (AIACPI-IW) for the quarter ended March 2026.DA is by practice revised twice a year by the All-India Consumer Price Index (AICPI) to counter inflation fluctuations. The allowance is a percentage of employees' basic salary specifically meant to help with increased cost-of-living.
According to the IBA notice, the average CPI for the three months is 148.73 which works out to 25.70 differential over the 123.03 baseline (CPI 2016), which brings the increase for May, June and July 2026 to 0.70 points (148.73 - 123.03 = 25.70).
Further, in another notice the body said that for employees yet to enforce XII BPS / 9th Note and are still under XI BPS / 8th Note, the following increase is as confirmed by the All-India Average Consumer Price Index for Industrial Workers (AIACPI-IW) for the quarter ended March 2026.
Here, the average CPI of the above is 9777.52 and works out to a differential of 856. It added that as per terms of settlement dated 11 November 2020, the DA rate payable to workmen and officer employees for the months of May, June and July 2026 will be 59.92% of basic pay.
DA: Is it part of your CTC? Is it taxable?
DA is part of an employee's cost-to-company (CTC) and is credited as part of the monthly salary for central government employees. As per the ministry, payment on account of DA involving fractions of 50 paise and above may be rounded off to the next higher rupee and the fractions of less than 50 paise may be ignored.For salaried employees, DA is subject to income tax in its entirety. Income-Tax Rules mandate that the DA component is stated separately in a taxpayers I-T returns (ITR).
DA for bank employees: What's ahead?
Notably, the IBA and Centre successfully completed negotiations related to salary and benefits of state-owned banks in March this year. As per the bank unions pact, the monthly salary of the PSU bank employees is set to rise by 17% with effect from 1 November 2023, and DA is expected to correspond to 8088 points. The pact also paved the way for five-day work weeks for banks, i.e. all Saturdays will be holidays.Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Source: LiveMint
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