Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Indian Army signs MoU with 11 banks for Agniveer salary package
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > Indian Army signs MoU with 11 banks for Agniveer salary package
Breaking

Indian Army signs MoU with 11 banks for Agniveer salary package

ANI
Last updated: October 15, 2022 5:30 pm
ANI
Published: October 15, 2022
Share
4 Min Read
SHARE

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.(ANI)

“If Pakistan says that it is not involved, let us accept that argument…”: Congress leader Saifuddin Soz
Asian Games: Manipur’s Roshibina Naorem settles for silver in women’s 60 Kg Wushu
Srinagar Admin organises public outreach programme under “Viksit Bharat Sankalp Yatra”(VBSY) at Harwan
Schools reopen in Jammu as India-Pakistan tensions ease
Hasan Ali replaces injured pacer Naseem Shah in Pakistan’s World Cup squad

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article IED found on Bandipora-Sopore road destroyed by Army
Next Article Unique poetry, art exhibition in Kashmir to promote Sufism attracts visitors
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Prime Minister Modi’s Message at G7
Editorial
June 19, 2025
A New Generation of India taking Test Cricket ahead in England
Viewpoint
June 19, 2025
Strengthening Cereal Crop Production amid Climate Change in Kashmir’s Temperate Valley
Viewpoint
June 19, 2025
Child Care and Mindful Parenting
Opinion
June 19, 2025

Recent Posts

  • Prime Minister Modi’s Message at G7
  • A New Generation of India taking Test Cricket ahead in England
  • Strengthening Cereal Crop Production amid Climate Change in Kashmir’s Temperate Valley
  • Child Care and Mindful Parenting
  • Growing Discipline Crisis in Educational Institutions

Recent Comments

  1. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  2. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  3. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir
  4. Captain Vikrama on CM Omar Abdullah hails historic feat as three Kashmiri Girls crack IIT-JEE Advanced
  5. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?