Indian Army Signs Mou With Eleven Banks For Agniveer Salary Package
Source : PIB
GS III : Internal Security
What is discussed under Indian Army Signs Mou With Eleven Banks For Agniveer Salary Package?
- Agnipath scheme
- About MoU
Why in News ?
The Indian Army has signed an MoU with 11 banks for providing banking facilities to Agniveers on enrollment.
Key Facts
- The Indian Army has signed historic MoU with 11 Banks viz 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 for providing banking facilities to Agniveers on enrollment.
- The features and benefits offered under Agniveer salary package are similar to defence salary package.
- The banks have offered soft loans to exiting Agniveers to promote and enhance their entrepreneurial skills.
Agnipath Scheme
- The Agnipath initiative, which was unveiled on June 14, calls for the hiring of young people between the ages of 17 and a half and 21
for a four-year period with the option of keeping 25% of them for an additional 15 years. - The government raised the maximum age to 23 for recruitment in 2022.
- Those selected under this scheme will be known as Agniveers.
- The government had announced that 46,000 Agniveers to be recruited this year.
- The armed forces will have “a younger, fitter, diverse profile” to face future challenges.
- Enrolment will be undertaken through an online centralised system
- Payments : Agniveers will be paid a customised package of Rs 30,000 per month with a fixed yearly increment.
- In addition, risk and hardship, dress and travel allowances will be paid.
- On expiration of their engagement period, agniveers will get a one-time Seva Nidhi package that includes their monthly contribution as well as a matching contribution from the government.
- Skill Training : The degree programme will provide Agniveers the chance to pursue the civilian careers of their choice by recognising the in-service training they have earned as credits toward graduation.
- Skills training will make up 50% of the credits needed for a graduate degree.
- Rremaining 50 per cent credits will come from a basket of courses that cover a wide variety of subjects like languages, Economics, History, Political Science, Public Administration, Sociology, Mathematics etc
- The curriculum complies with the National Credit Framework, National Skill Qualification Framework, and University Grants Commission (UGC) standards as required by the new National Education Policy (NEP).
Daily Current Affairs : Click Here