New Delhi, October 15: The Indian Army has signed agreements with 11 banks
including the private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Kotak
Mahindra Bank for providing banking facilities to Agniveers on enrolment, the
Ministry of Defence said on Saturday.
The MoUs were signed by Lt Gen V Sreehari, DG (MP & PS) and senior officials of
Banks in a ceremony presided over by Lt Gen C Bansi Ponappa, the Adjutant
General of the Indian Army on 14 October 2022, the ministry said.
Eleven banks with which the Indian Army has signed the agreement include State
Bank of India, Punjab National Bank, Bank of Baroda, IDBI Bank, ICICI Bank, HDFC
Bank, Axis Bank, Yes Bank, Kotak Mahindra Bank, IDFC First Bank and Bandhan
Bank.
The features and benefits offered under Agniveer Salary Package are similar to
the Defence Salary Package. In addition, the banks have offered soft loans to
exiting Agniveers to promote and enhance their entrepreneurial skills. The first
batch of Agniveers under “Agnipath Scheme” will be joining Training Centres by
January 2023, the Ministry of Defence said in a statement.
This is a major defence policy reform introduced by the Government to usher in a
new era in the human resource policy of the Army, Air Force and Navy. The policy,
which comes into immediate effect, will hereafter govern the recruitment of
personnel below officer rank (PBOR) in the three services, according to the
Ministry of Defence.
The Agniveers will form a distinct rank in the three services, and will also wear a
distinct insignia as part of their uniform.
AGNIPATH scheme allows patriotic and motivated youth to serve in the Armed
Forces for a period of four years. Soldiers who are recruited under this scheme
will be known as Agniveers.
The AGNIPATH Scheme has been designed to enable a youthful profile of the
Armed Forces and provide a fresh lease of ‘Josh' and ‘Jazba' whilst at the same
time bring about a transformational shift towards a more tech-savvy Armed
Forces – which is indeed the need of the hour, the defence ministry highlighted.
It is envisaged that the average age profile of the Indian Armed forces would
come down by about 4-5 years with the implementation of this scheme.
Agniveers will receive Rs 33,000 in the second year, Rs 36,500 in the third year
and Rs 40,000 in the fourth year. They will get Rs 11.71 lakh as Seva Nidhi Package
after four years.
The ‘Seva Nidhi' will be exempt from Income Tax. There shall be no entitlement to
gratuity and pensionary benefits. Agniveers will be provided non-contributory Life
Insurance Cover of Rs 48 lakh for the duration of their engagement period in the
Indian Armed Forces.
During this period of service to the nation, the Agniveers will be imparted with
various military skills and experience, discipline, physical fitness, leadership
qualities, courage and patriotism.
The skills gained by each Agniveer will be recognised in a certificate to form part
of his unique resume.
