Indian Army inks pacts with 11 banks for its Agniveers
The 11 banks which have been entered into MoU with the Indian Army include State Bank of India, IDBI Bank, ICICI Bank, HDFC Bank, Axis Bank, Punjab National Bank, Bank of Baroda, Yes Bank, IDFC First Bank, Kotak Mahindra Bank and Bandhan Bank.
In a major development, the Indian Army has inked pacts with 11 leading banks, including the public and private lenders for availing specially-designed products for the Agniveers, who are all set to join the service early next year.
In January 2023, the Agniveers, who are being recruited under the newly announced Agnipath scheme, will join the training centres spread across the country. Aiming to promote and enhance their entrepreneurial skills, the banks have also offered to provide soft loans to the Agniveers.
The 11 banks which have entered into a Memorandum of Understanding with the Indian Army include State Bank of India, IDBI Bank, ICICI Bank, HDFC Bank, Axis Bank, Punjab National Bank, Bank of Baroda, Yes Bank, IDFC First Bank, Kotak Mahindra Bank and Bandhan Bank.
The country's second-largest lender, the PNB, has launched a 'PNB AGNI RAKSHAK' scheme. Under this scheme, the Agniveers will be provided personal accidental insurance, air-accidental insurance, zero balance salary account with sweep facility, internet banking and alerts, among others.
Expressing gratitude, Lt Gen CB Ponnappa, Adjutant General, said: "Over the past few years, banks have been quick in releasing payments for insurance claims and addressing immediate requirements. Further, with new digital services and awareness campaigns, banks are now even more accessible in rural areas, which has been a boon for defence professionals and their families."
"I am grateful that these financial institutions are now extending their advanced services with the same responsibility to our Agniveers," he said.