The Indian Army and 11 Indian banks have signed memorandums of understanding to provide banking services to Agniveers upon enrollment in the Agnipath programme. According to a statement from the Ministry of Defence, the MoUs were signed by Lieutenant General V Sreehari, director general (Manpower Planning and Personnel Services), and senior bank officials in a ceremony officiated by Lieutenant General C Bansi Ponappa, adjutant general of the Indian Army. The benefits offered under the Agniveer Salary package are similar to the defence salary package, the ministry said. To encourage and enhance the exiting Agniveers' entrepreneurial skills, the banks have also extended lenient loans to them. The 11 banks providing "Agniveers" with banking services include- 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. On June 14, the Narendra Modi government announced the new Agnipath scheme for enlisting in the armed forces (army, navy, and air force). The military claimed that the move was made to reduce force average age and ensure a stronger military to meet upcoming challenges. By January 2023, the first group of Agniveers under the "Agnipath Scheme'' will begin attending Training Centers. Violent protests had been started as a result of the Agnipath scheme in numerous states across the nation. The government had, however, ruled out any revisions to the plan and claimed that the forces' long-overdue defence reforms would not be implemented.