The Finance Ministry assembled a meeting with banks, insurance firms, and other financial institutions to discuss strategies to support Agniveers post their service. Thus aiming to make the scheme appealing to potential beneficiaries.
- Banks and financial institutions will strive to provide support with appropriate credit facilities.
- A special 3-year skill-based bachelor’s degree launched by the MoE.
- Passed out Agniveers will be given priority in recruitment for various posts.
On June 14, the Union Cabinet approved a new recruitment scheme for the armed forces called “Agnipath”. The scheme allows young people to serve in the Armed Forces. Youth selected under this scheme will be called “Agniveer”. This recruitment is based on a short-term contractual basis, with a term of four years.
In an attempt to curb the unfortunate fallout from the Agnipath scheme of recruiting soldiers, the Government summoned representatives of public sector financial sector giants on Thursday. The aim was to brainstorm and explore employment prospects for these Agniveers after they quit active service.
On June 16, the Ministry of Finance released a statement. The circular informed about the meeting held by the Secretary of the Department of Financial Services (DFS) with CEOs of Public Sector Banks (PSBs), Public Sector Insurance Companies (PSICs) and Financial Institutions (FIs). An official of the Department of Military Affairs, which led the proposal, made a presentation on the scheme’s salient aspects. Further, it was decided that employment opportunities would be explored for Agniveers. These employment prospects will be in line with their educational qualifications and skills. Appropriate benefits and relaxations will also be applied in their suitable capacities.
Support from financial institutions
PSU banks and insurance companies are directed to relax their recruitment norms for Agniveers after completion of their tenure of duty. Banks will strive to assist the “Agniveers”. These institutions will provide them with suitable credit facilities for skill upgradation, education to establish businesses and to become self-employed. Already existing Government schemes such as MUDRA, Stand Up India etc. would be leveraged for extending required support to Agniveers.
Upskilling for Agniveers
Keeping in consideration the concerns over the future career prospects of Agniveers after their term of service, the Ministry of Education (MoE) decided to launch a special three-year skill-based bachelor’s degree programme for them. Under this program, 50% of the credits required for the given graduate degree will come from skill training received by the Agniveers. This includes both technical and non-technical knowledge.
The other 50% of credits will come from a set of courses covering a variety of subjects like languages, economics, history, political science, public administration, sociology, mathematics, education, commerce, tourism, vocational studies, agriculture, jyotish, ability enhancement courses on environmental studies and english communication skills.
Priority hiring for Agniveers
On June 15, a day after the Agnipath scheme was launched, Union Home Minister Amit Shah declared that priority would be given to Agniveers for recruitment in the Central Armed Police Forces (CAPFs) and the Assam Rifles. Madhya Pradesh Chief Minister Shivraj Singh Chouhan announced that Agniveers will get priority in getting recruited into the Madhya Pradesh Police. Haryana CM Manohar Lal Khattar promised priority for Agniveers in recruitment for state government jobs.
Earlier this week, the cabinet approved a new recruitment scheme for the armed forces called Agnipath. The recruited youth will serve in the armed forces for a period of four years. As stated in an official news release, the purpose of the meeting conducted on Thursday was to pin down ways in which the banks and financial institutions can support the passing out Agniveers. Relaxed credit facilities, upskilling opportunities and recruitment priority will be made available for these army recruits after their term of service.
