Pradhan Mantri Fasal Bima Yojana

Fasal Bima Yojana is a flagship scheme launched in 2016 to provide financial support to farmers suffering crop loss or damage due to natural calamities

Crop insurance payouts declined 48% in FY22

Critics point to flaws within the scheme as the reason for the low amount of claims paid. Insurers blame delays in receiving crop loss data and the government’s share of the premium

PMFBY completes 5 years: Narendra Singh Tomar says 29 crore farmers enrolled so far; urges others to take one soon

PMFBY was launched on January 13, 2016 with an aim to provide a comprehensive risk solution at the lowest uniform premium across the country for farmers.

FM Sitharaman stresses on release of premium subsidy on time to ensure timely claim settlement under PMFBY

Sitharaman suggested that stringent follow-up should be done with states where subsidy is pending, especially those which are not implementing the scheme in Kharif 2020 with a view to ensure payment of all pending claims to farmers at the earliest, an official statement said.

Future Generali settles crop insurance claims worth Rs 276 crore under PMFBY

The company paid PMFBY claims in various districts of Karnataka, Rajasthan and Maharashtra, a release said.

COVID-19 lockdown: Crop insurance claims worth Rs 2,424 crore disbursed to farmers

The Kisan Credit Card (KCC) saturation drive has been initiated by the ministry in collaboration with the Department of Financial Services to cover all PM-KISAN beneficiaries.

No windfall gains to private insurers under PMFBY: Centre

The government is implementing two crop insurance schemes of the PMFBY and the Restructured Weather Based Crop Insurance Scheme (RWBCIS).

Agriculture Ministry receives Rs 16,094 cr in Q1 to run various schemes

The amount is 53 per cent higher compared to Rs 10,498.90 crore received by the ministry in the same period last year, it said in a statement.

Loan waiver to benefit two crore farmers: UP minister

Uttar Pradesh government would soon come out with a concrete decision on the issue of farm loan waiver which would benefit two crore small and marginal farmers, Agriculture Minister Surya Pratap Shahi said here.

Union Budget 2017-18: Fasal Bima Yojana scheme gets an additional boost

“The Fasal Bima Yojana launched by our Government is a major step in this direction. The coverage of this scheme will be increased from 30 percent of cropped area in 2016-17 to 40 percent in 2017-18 and 50 percent in 2018-19,” said Jaitley in the Budget speech.

Pradhan Mantri Fasal Bima Yojana helped GIC Re double its growth

The reinsurer which is among the five public sector insurers that have received Cabinet nod for listing, saw business growth touch 90 percent for H1 of FY17.

3.6 cr farmers take insurance cover of Rs 1.41 lakh cr so far

About 3.6 crore farmers have taken the crop insurance policy for a sum insured of Rs 1.41 lakh crore so far in 2016-17 crop year, the government said today and expressed confidence that it would meet the target of 30 per cent coverage by end of the rabi (winter) season.

Over 4 cr farmers may opt for Pradhan Mantri Fasal Bima Yojana

As many as 200 mandis across the country would be brought under the ambit of the scheme by next month. 400 mandis would be made online by March next year, while 585 mandis would go online by 2018, he said.

Agri Min demands Rs 11,000 cr more to implement PMFBY this yr

The new scheme, PMFBY, was launched in January and is being implemented in the ongoing kharif (summer) season. The Centre aims to bring 4 crore farmers under the scheme.

PMFBY: Bajaj Allianz eyes underwriting premium of Rs 100 cr

Private sector non-life insurer Bajaj Allianz General Insurance is looking at underwriting premium of Rs 100 crore in Haryana during the ongoing Kharif season under the Pradhan Mantri Fasal Bima Yojana (PMFBY)

Govt allows state-run GIs to sell PM's crop insurance schemes

Only 11 private sector players were allowed to participate as they have better experience in crop insurance schemes, an area which state-run companies were almost eschewing so far.

GIC Re's net profit up by 5.4% to Rs 2,848 cr

Driven by strong gross written premium, the state-owned reinsurer, GIC Re's net profit increased by 5.4 percent to Rs 2,848 crore in the fiscal year ending March 31

Govt may set up more agri-business management institutes

Government will consider setting up more agri-business management institutes, Agriculture Minister Radha Mohan Singh said on May 30

AP targets to produce 172 lakh tonnes foodgrains in FY17

"The state has set a target to produce 172.08 lakh tonnes of foodgrains in 2016-17 as against 136.73 lakh tonnes in 2015-16," Agriculture Minister Prattipati Pulla Rao said.

Agri sector has to grow fastest to eradicate poverty: Jaitley

"If India is to grow and get rid of poverty, the agriculture sector has to grow the fastest... agriculture is critical to the economy," Jaitley said at a seminar on the recently-announced Pradhan Mantri Fasal Bima Yojana (PMFBY) at Nabard here.

Banks' role key for success of new crop loan scheme, says RBI

As the scheme is voluntary for non-loanee farmers, banks have to focus on supporting peasants, who have opened account under the Jan Dhan scheme, in getting crop insurance, including guiding them through the entire process, it said.

Budget 2016: Farmers look to FM for details of revamped crop insurance scheme

This comes after National Crime Records Bureau registered 5,650 farmer suicides in 2014, more than half from Maharashtra, due to unseasonal monsoon and two consecutive years of drought.