- Technological Breakthrough Needed for Crop Insurance – CEO, PMFBY
- Govt uses Artificial Intelligence to boost Farming.
- RGICL is in its 8th Successful year of execution of PMFBY.
- Our Kharif 2020 - Rabi 2020-21, Kharif 2021 - Rabi 2021-22, Kharif 2022 - Rabi 2022-23 & Kharif 2023 implementing footprint are in Andhra Pradesh, Assam, Haryana, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Jammu & Kashmir, Karnataka
- More than 35.32 million farmers application covered during Kharif 2020 to Rabi 2022-23 seasons
- Follow us on Twitter @RelianceGenIn
- To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop.
- To stabilize the income of farmers to ensure their continuous process in farming.
- To encourage farmers to adopt innovative and modern agricultural practices.
- To ensure flow of credit to the agriculture sector.
- Uniform Farmer Premium: Farmers need to pay maximum2% only on Sum Insured as premium for all Kharif crops and maximum 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, maximum 5% premium is payable.
- Low Premium and High Coverage: The farmer share of premium is very low and balance premium will be paid by the Government. Coverage of full Sum Insured is available to the farmers against specified crop losses.
- Significant Use of Technology: Mobile Technology using Smart phones, Remote sensing technology using satellite data, Aerial study using Drone and GPS technologies will be used to capture and upload data to expedite the crop loss estimation, to reduce the delays in the claim payment.
- Government of India’s National Crop Insurance Portal: Completely digitized information on notification of areas, crops, schemes are available on National Crop Insurance Portal (NCIP) for enabling information access to multiple stakeholders and for farmers to avail crop insurance services. To visit NCIP please click on the below mentioned link
https://www.pmfby.gov.in . - Implementing Agency (IA): Notified Insurance Company responsible for beneficiary enrollment, awareness generation and claims processing for the season and concerned cluster (a combination of districts).
- For more details please click here to visit PMFBY homepage
- To know more about the scheme's revamped operational guidelines, please click here
- Enrollments made within the stipulated timelines decided as per state government notification will only be considered for Insurance.
- Only crops notified by State Government are covered under the scheme.
- Sum Insured is calculated based on the Scale of Finance declared by the SLBC/State Government.
- Please click here and select Insurance premium calculator to know Sum Insured, Farmer share of premium.
Season | Crop | Premium Payable by farmers(% of Sum Insured) * |
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Kharif | All food grain and oil seed crops | 2.0 % of SI or Actuarial rate, whichever is less |
Rabi | All food grain and oil seed crops | 1.5 % of SI or Actuarial rate, whichever is less |
Kharif and Rabi | Annual commercial/Annual horticultural crops | 5.0 % of SI or Actuarial rate, whichever is less |
- The coverage of eligible loanee farmers should be carried out by ICs through the banks/FIs.The documents are needed to be submitted to the Bank itself. Enrollment happens only through your respective banks.
- The scheme is optional for all farmers including farmers who have been sanctioned short-term Seasonal Agricultural Operations (SAO) loans/Kisan Credit Card (KCC) for the notified crops from defined FIs (hereinafter referred to as Loanee farmers).
Non-loanee farmers can enroll through anyone of the channels i.e Bank, CSC & Directly through NCIP
- The non-loanee farmers are required to submit necessary documentary evidence of land records prevailing in the State (Records of Right (RoR), Land possession Certificate (LPC) etc.) and/or applicable contract/agreement details/other documents notified/permitted by concerned State Government.
- In case of sharecroppers/tenant farmers and the same should be defined by the respective States in the notification itself.
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Q1 What is Insurance?
Insurance is a tool to help compensate an individual or business for unexpected losses that might otherwise cause a financial disaster. It is a process where, the losses of a few are shared by the contributions of many.
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Q2 What is Crop Insurance?
Crop insurance is a means of protecting the agriculturist against financial losses due to uncertainties that may arise from crop failures/losses arising from named or all unforeseen perils beyond their control.
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Q3 What is PMFBY?
Pradhan Mantri Fasal Bima Yojana (PMFBY) is a scheme launched by Govt of India to provide support for Farmers from losses occurring due to unforeseen and unfavorable vagaries of nature.
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Q4 What is Sum Insured / Coverage Limit?
Sum Insured per hectare for both Loanee and non-Loanee farmers will be same and equal to the Scale of Finance as decided by the District Level Technical Committee and would be pre-declared by SLCCCI and notified.
The sum Insured for an individual farmer is equal to the Scale of Finance or Notional Average Value (Notional Average Yield {NAY} x Minimum Selling Price {MSP}/Farm Gate Price) per hectare multiplied by the area of the notified crop proposed by the farmer for insurance, wherein area under cultivation shall always be expressed in hectare.
The scale of Finance is also defined in the state government notification or/and on National Crop Insurance Portal.
Sum insured for irrigated and un-irrigated areas may be different. -
Q5 Where can I find more details about PMFBY?
For detailed coverage, exclusions and operational modalities, please read Operational Guidelines of Pradhan Mantri Fasal Bima Yojana issued by Government of India.
For Operational guidelines click here -
Q6 How is the assessment of yield claim done?
Yield losses claims will be calculated based on the formulae, [(Threshold yield – Actual Yield) / Threshold Yield] X Sum Insured.
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Q7 What are the premium rates charged under this scheme?
Season Crops Premium Payable by farmers (% of Sum Insured)* Kharif All food grain and oil seed crops 2.0 % of SI or Actuarial rate, whichever is less Rabi All food grain and oil seed crops 1.5 % of SI or Actuarial rate, whichever is less Kharif and Rabi Annual commercial/Annual horticultural crops 5.0 % of SI or Actuarial rate, whichever is less -
Q8 How is prevented sowing claim applicable for farmers?
State Govt. would declare a notified insurance unit as having suffered prevented sowing/planting condition.
Reports on Weather data, satellite imagery and crop condition and area sown data etc. shall be used as proxy indicator.
Claim paid under this cover would be 25% of the sum insured and the Insurance cover will be terminated. -
Q9 Are all crops covered under this scheme?
Only the crops notified by the Govt. of India implementing state will be covered under the scheme.
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Q10 Are all the farmers eligible for coverage under PMFBY?
All farmers including sharecroppers and tenant farmers cultivating the notified crops in the notified areas are eligible for coverage. Farmers should have insurable interest for the notified/insured crops.
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Q11 Is there any timelines for enrollment for PMFBY?
Strict cut-off dates notified by State Govt. are followed under PMFBY for enrollment. Only the proposals received on or before the cut-off date are covered under the policy.
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Q12 What is sum insured limit for individual farmer?
Sum Insured = Scale of Finance of the notified crop x Area of the notified crop proposed for insurance.
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Q13 What is the collection process of proposal and premium from loanee farmers?
Premium will be auto debited by the banks (as per details submitted by farmers during crop loan application).
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Q14 What is the collection process of proposal and premium from non loanee farmers?
Non Loanee farmers can approach any of the Banks, CSCs, or PMFBY website for enrolment. They need to submit the necessary documents like, evidence of land records prevailing in the State (Records of Right (RoR), Land Possession Certificate (LPC) etc.) and/or applicable contract/agreement details/other documents notified/permitted by concerned State Govt. In case of sharecroppers/tenant farmers and the same should be defined by the respective States in the notification itself. The premium has to be paid through any of these channels. Both submission of documents and premium payment must happen before the cutoff date.