-TheWire.in Making crop insurance mandatory for loanee farmers provided an attractive deal for insurance companies. Without this, will the business still be viable? This is the first in a two-part series about the changes made to the Pradhan Mantri Fasal Bima Yojana. On February 19, 2020, the Union Cabinet approved major modifications to the two crop insurance schemes, the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS). While...
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In Maharashtra, linking land records to PM Fasal Bima saves time, plugs leaks -Parthasarathi Biswas
-The Indian Express Does away with need for village revenue officer’s signature; guards against crop insurance fraud. Pune: Early in December, when Bhagwan Ingole, a farmer from Malegaon in Ardhrapur taluka of Nanded went to the Citizen Facilitation Centre in his village to insure his one acre of rabi chana (bengal gram) crop, he was in for a surprise. During the previous seasons, the operator of this one-stop shop catering to most...
More »Amount owed by insurers to farmers at all-time high -Zia Haq
-Hindustan Times PMFBY has run into many of the old problems. The one most troubling issue for farmers is a continuous delay in payouts. The average delay in payment of claims, according to official data, is more than a year from the date of harvest. When the Pradhan Mantri Fasal Bima Yojana (PMFBY), the country’s flagship crop insurance scheme was launched in June 2016, the idea was to replace complicated, multiple insurance...
More »Rajasthan: Thousands of crop insurance claims denied as premium 'Refunded' -Shruti Jain
-TheWire.in The Agriculture Insurance Company of India returned farmers' premiums after one year, claiming that details had not been provided in "soft copy". The bank, however, has not credited the refund into farmers' accounts. Satlana (Jodhpur, Rajasthan): Thousands of farmers in the Satlana gram panchayat of Rajasthan’s Jodhpur, insured under the Pradhan Mantri Fasal Bima Yojana (PMFBY), have been denied insurance claims for two crop seasons – kharif 2016 and kharif 2017. The...
More »Fasal Bima, a story of dashed hopes -Radheshyam Jadhav
-The Hindu Business Line Farmers, reeling under crop losses, feel the Centre’s crop insurance scheme is merely helping insurance firms make profits. Radheshyam Jadhav reports After completing his graduation, Ramkisan Nirmal took up a challenge. Unlike other youths who prefer to migrate to nearby cities in search of jobs, Ramkisan dreamed of becoming a farmer and prove that with modern technology and efforts, agriculture could become a profitable venture. In his drought-prone village...
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