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On individual basis- for localized calamities such as hailstorms, landslides, cyclones and floods. Under the scheme, each state is required to reach the level Gram Panchayat as the unit of insurance in a maximum period of 3 years. Agriculture Insurance Corporation of India is implementing the scheme.
The Pradhan Mantri fasal bima yojana (PMFBY) launched on 18 February 2016 by Prime Minister Narendra Modi is an insurance service for farmers for their yields. [1] It was formulated in line with One Nation–One Scheme theme by replacing earlier two schemes Agricultural insurance in India#National Agriculture Insurance Scheme and Modified National Agricultural Insurance Scheme by incorporating ...
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 National Bank for Agriculture and Rural Development (NABARD) is an All India Development Financial Institution (DFI) [4] and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India. [5]
Livestock Insurance Scheme CSS MoA: 2005: Agriculture: Initiated as a pilot in 2005 and scaled up to all districts by 2014. Insurance to cattle and attaining qualitative improvement in livestock and their products. [142] Special Accelerated Road Development Programme (SARDP-NE) CS MoRTH: 2005 Transport To improve road connectivity in Northeast ...
Pradhan Mantri Kisan Samman Nidhi (PMKISAN, translation: Prime Minister's Farmer's Tribute Fund) is an initiative by the government of India that give farmers up to ₹ 6,000 (US$70) per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019.
U.S. Department of Agriculture is known to implement the earliest multi-peril crop insurance program in 1938. Federal Crop Insurance Corporation managed this multi-peril insurance program since then. The Risk Management Agency (RMA) is active in calculating the premiums based on individual risk factors since 1996.
The firm produces a range of insurance products, including motor, health, accident, engineering, liability, marine, property, travel and rural insurance for individuals and corporate insurance. The company achieved a Gross Written Premium of Rs. 13465 million in 2011 – 12. The company has 93 branches and over 6,000 agents across the country. [2]