Bengaluru, NFAPost: In a praiseworthy effort to provide employment opportunities for veterans, the Ministry of Defence has joined forces with Kotak Mahindra Life Insurance Company Ltd. This partnership was solidified through a Memorandum of Understanding (MoU) signed between the Directorate General Resettlement (DGR) and Kotak Mahindra Life Insurance Company Ltd. The primary goal of this collaboration is to facilitate the smooth transition of ex-servicemen into the corporate sector, offering them a distinguished second career while leveraging their skills and experience.
With the objective of enhancing the visibility of ex-servicemen in various industries, Major General Sharad Kapur, Director General (Resettlement), expressed optimism about the alliance. The Ministry of Defence aims to fulfil its commitment to providing skilled manpower and ensuring a respectful post-retirement life for veterans who have dedicated their lives to serving the nation.
The Welfare and Rehabilitation Schemes implemented by the Kendriya Sainik Boards (KSB) and the Directorate General of Resettlement (DGR) play a crucial role in supporting ex-servicemen. These schemes encompass a range of benefits, such as girl marriage grants, penury grants, and disabled children grants. The government allocates annual funds to support these initiatives, with expenditures in the previous financial years amounting to ₹234 crore and ₹420 crore in 2021-22 and 2020-21, respectively. Furthermore, a budget allocation of ₹150 crore was made for the financial year 2022-23. The DGR, too, has been provided with financial support, with previous years’ figures at ₹6.58 crore and ₹6.7 crores, and a budget allocation of ₹20 crores for the last financial year.
Despite reserved job quotas for ex-servicemen in the public sector, many vacancies remain unfilled. The government has set aside 10% of Group C jobs and 20% of Group D posts for veterans. Yet, the re-employment rate in defence Public Sector Undertakings (PSUs) has been disappointingly low. Recent statistics indicate that only 3.45% and 2.71% of veterans were employed in Group C and Group D positions, respectively, as of 2021.
Recognizing the immense contributions made by veterans to national security, Defence Minister Rajnath Singh has previously appealed to corporates to support and assist these deserving individuals. The partnership between the Ministry of Defence and Kotak Mahindra Life Insurance is a significant step forward in realizing this vision. By harnessing the expertise and resources of the corporate sector, ex-servicemen can be seamlessly integrated into the workforce, enabling them to channel their skills and experiences towards the nation’s overall development.
This collaboration serves as an admirable initiative that not only empowers veterans but also recognizes the valuable assets they are to society. By fostering such partnerships, the Ministry of Defence and Kotak Mahindra Life Insurance set a commendable example for other organizations to follow, ensuring a brighter future for those who have dedicated their lives to serving the country.
