-The Hindu Business Line Bidding process apace to select insurance firms for Fasal Bima Yojana New Delhi: The Centre’s flagship crop insurance scheme, Pradhan Mantri Fasal Bima Yojana, is likely to be rolled out in several parts of the country by next month as the bidding process for selecting insurance companies is over in at least ten States and a Union Territory and many others are in the midst of it. All top...

-Business Standard Await go-ahead signal from ministry of agriculture for their use Mumbai: Private insurance companies are using drones to photograph farms and if permitted by the agriculture ministry these could provide data to calculate crop yield. Insurers are using unmanned aerial vehicles as a pilot scheme. The agriculture ministry has called for use of such modern technology for the Pradhan Mantri Fasal Bima Yojana (PMFBY). Drones have not gained widespread commercial use, as...

-The Hindu Business Line The new scheme offers lower premium, more risk cover and hassle-free settlement Crop insurance schemes have not been a hit with Indian farmers in the past. High premia, limited coverage, complicated ways of assessing losses and delayed payment of compensation have kept farmers away from them. Given the high risk of crop damage in India, with significant loss in food grain production in 18 of the last 54 years...

-Business Standard Currently, the Department of Agriculture runs two crop insurance schemes, one of which is weather-based The Centre is devising an insurance product for farmers that will guarantee to make good their loss in income from natural calamities for at least seven years. For crops with minimum support prices (MSPs), the loss in income will be based on the MSP; for others, it will be calculated based on the average market...

-Deccan Chronicle On August 15, Prime Minister Narendra Modi announced the Pradhan Mantri Jan Dhan Yojana, a financial inclusion scheme that will ensure that at least one member of each and every family in India not only has a bank account with a debit card, but is also provided an overdraft facility of Rs 5,000, a life insurance policy of Rs 30,000 and accident insurance cover of Rs 1,00,000. On August...