Current Affairs   »   Defence Current Affairs 2022   »   Indian Army signs MoU with 11...

Indian Army signs MoU with 11 banks for Agniveer salary accounts

Indian Army signed MoU with 11 banks for providing banking facilities to Agniveers on enrolment. The banks are 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.

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Key Points related to MoU of Indian Army and Banks

  • The features and benefits offered under the Agniveer salary package are similar to the defense salary package.
  • The banks have offered soft loans to exiting Agniveers to promote and enhance their entrepreneurial skills.
  • From January 2025, the first batch of Agniveers will join training centers under the Agnipath Scheme.
  • On 14th June, the Agnipath Scheme was announced to provide recruitment of youth between the age of 17 to 21 Years for four years.
  • The Scheme provides provisions to retain 25 percent of them for 15 more years.
  • The government however extended the upper age limit of 23 years for recruitment in 2022.
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