MoD & Kotak Mahindra Insurance sign MoU for Ex-Servicemen’s employment 

New Delhi: A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Kotak Mahindra Life Insurance Company Limited today on June 12, 2023 in New Delhi.

As per the ministry, the MoU between DGR and Kotak Mahindra Insurance endeavours to bring the corporate companies and Ex-Servicemen on a common platform to generate employment opportunities for the esteemed Ex-Servicemen of the Defence Services.

Maj Gen Sharad Kapur, Director General (Resettlement) said, "This partnership would bring in more visibility of our Ex-servicemen to the industry and corporates and help in achieving the objectives of providing skilled manpower and giving a dignified second career to our Ex-servicemen".

The government has taken a number of steps in recent time for the employment generation of Ex-servicemen.

The existing quota of reservations in employment is available for Ex-Servicemen (ESM) in Public Sector Banks (PSBs) and Central Public Sector Undertakings (CPSUs) is 14.5% in all Direct Recruitment Group 'C' Posts and 24.5% in all Direct Recruitment Group 'D' Posts. This includes 4.5% for Disabled ESM and Dependents of Service personnel killed in action.

A total of 32,209 Ex-Servicemen have been resettled during the financial year 2021-22 through the Directorate General of Resettlement (DGR). This number also includes those ESMs who were employed earlier also through DGR and whose contracts have been renewed from April 2021. In addition, a total of 10,871 ESMs were given new jobs by DGR during the financial year 2021-22.

There is a plan to further increase this number in the coming years.

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