New Delhi, May 26 -- "As a young officer, personal finances were never top of mind," recalls Colonel Ajit Kumar Singh Chauhan, a 63-year-old Indian Army veteran. "Juggling duties, official commitments, physical training, games with troops and mandatory evening parties there was hardly any time to focus on financials."

Financial awareness has always been low in the army and seniors hardly discussed money or investments, he added.

Chauhan's views reflect a broader pattern among defence personnel in the Army, Air Force, and Navy, where financial awareness has traditionally been low.

"Financial ignorance and lack of time combined, saving in provident fund (called Defence Service Officers Provident Fund or DSOP) was an end in itself during ...