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PSBs, PSICs to support ‘Agniveers’ by credit facilities, insurance

To identify ways in which banks and financial institutions can support the ‘Agniveers’ upon completion of their tenure of duty, the Secretary, Department of Financial Services (DFS) held a meeting with chief executives of public sector banks (PSBs), public sector insurance companies (PSICs), and financial institutions (FIs) on Thursday. The cabinet has approved Agnipath, an attractive recruitment scheme that allows patriotic youth to serve in the Armed Forces for four years. The upper age limit for the recruitment process for Agnipath scheme for 2022 is increased as 17 ½ -23 years of age.

In the meeting, Joint Secretary, Department of Military Affairs made a presentation on the salient aspects of the Agnipath scheme. It was decided that PSBs, PSICs and FIs would explore employment opportunities for ‘Agniveers’ in suitable capacities based on their educational qualifications and skills through suitable benefits and relaxations. Banks would explore possibilities of supporting ‘Agniveers’ through suitable credit facilities for skill upgradation, education for setting up businesses and to take up self-employment. The existing government schemes such as Mudra and Stand Up India would be leveraged for extending such support to ‘Agniveers’.

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