The Ministry of Defence has joined forces with 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 Rs.234 crore and Rs. 420 crore in 2021-22 and 2020-21, respectively.
• Furthermore, a budget allocation of  Rs150 crore was made for the financial year 2022-23. The DGR, too, has been provided with financial support, with previous years’ figures at Rs.6.58 crore and ?6.7 crores, and a budget allocation of Rs.20 crores for the last financial year.