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It aims to reduce the premium burden on farmers and ensure early settlement of crop assurance claim for the full insured sum. Pradhan Mantri Fasal Bima Yojna (PMFBY) aims to provide a comprehensive insurance cover against failure of the crop thus helping in stabilising the income of the farmers. The scheme covers all Food & Oilseeds crops and ...
AIC was incorporated on 20 December 2002 with an authorized capital of Rs. 1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed by the promoting companies, General Insurance Corporation of India GIC (35%), NABARD (30%) and the four public-sector general insurance companies (8.75%) each, viz., National Insurance Co. Ltd., Oriental Insurance Co. Ltd.,
The Government of India experimented with a comprehensive crop insurance scheme which failed. The Government then introduced in 1999-2000, a new scheme titled “National Agricultural Insurance Scheme” (NAIS) or “Rashtriya Krishi Bima Yojana” (RKBY). [ 6 ]
(PM Crop Insurance Scheme) CS Multiple 2016 Agriculture Insurance and finance scheme for farmers. [51] Stand-Up India: CS MoF, MoSJE: 2016 Entrepreneurship Loans for scheduled castes, scheduled tribes and women entrepreneurs for greenfield enterprises. Loans can be applied online. [52]
The features include an online transfer of crop details to Webland (land record management website), evidence in the case of crop damage for insurance, evidence for crop loans by banks, crop pattern and water tax demand analysis, and GPS location of each land parcel across the state.
BASIX insures its customers against risks like death, spouse's death, critical illness, hospitalization and permanent disability. It has rainfall-index based crop insurance, livestock insurance and micro enterprise asset insurance and deposit insurance for savings customers. In 2006-07, this coverage was extended to 473,932 asset owners.
Crop insurance is insurance purchased by agricultural producers and subsidized by a country's government to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods ("crop-yield insurance"), or the loss of revenue due to declines in the prices of agricultural commodities ("crop-revenue insurance").
The primary objectives of PMKSY are to attract investments in irrigation system at field level, develop and expand cultivable land in the country, enhance ranch water use in order to minimize wastage of water, enhance crop per drop by implementing water-saving technologies and precision irrigation.