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 MoUs were signed by Lt General V. Sreehari, DG (MP & PS) and senior officials of Banks in a ceremony presided over by Lt General C. Bansi Ponappa, the Adjutant General of Indian Army on October 14, 2022.
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.