The Pradhan Mantri Fasal Bima Yojana (PMFBY) originated on 18 February 2016 by Prime Minister Narendra Modi is an assurance service for farmers for their yields.
It was formed in line with One Nation – One Scheme theme by replacing the earlier two schemes National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS) by combining their best features and removing their inherent drawbacks. It intends to reduce the added burden on farmers and secure early settlement of crop insurance claim for the full insured sum.
Pradhan Mantri Fasal Bima Yojana
Table Of Content:
- Pradhan Mantri Fasal Bima Yojana Details
- Pradhan Mantri Fasal Bima Yojana 2020 Benefits
- Prime Purpose Crop Insurance Scheme
- PMFBY Scheme Premium
- PMFBY Yojana Required Documents
- PMFBY Scheme Application Form 2020 (How to apply)
- PMFBY Portal
- Pradhan Mantri Fasal Bima Yojana Form PDF
- PMFBY Online Application
- Pradhan Mantri Fasal Bima Yojana Online Registration
- Pradhan Mantri Fasal Bima Yojana List
PMFBY intends to provide a full insurance cover against the failure of the crop thus assisting in stabilizing the income of the farmers. The Scheme includes all Food & Oilseeds crops and Annual Commercial/Horticultural Crops for which past yield information is available and for which necessary number of Crop Cutting Experiments (CCEs) are being managed under General Crop Estimation Survey (GCES).
The scheme is executed by impaneled general insurance companies. Selection of Implementing Agency (IA) is made by the concerned State Government through bidding. The scheme is mandatory for loanee farmers availing Crop Loan /KCC account for reported crops and voluntary for other others. The scheme is being administered by the Ministry of Agriculture.
The PMFBY scheme has been plagued by a number of problems for the farmers with unpaid dues in thousands of crores while insurance companies have pocketed the money.
Pradhan Mantri Fasal Bima Yojana Details
In order to avail the Pradhan Mantri Fasal Bima Yojana 2020 plan, it is essential that any type of local disaster such as waterlogging, hailstorm, landslide or post-harvest damage such as unseasonal or cyclonic rainfall within 72 hours, It is mandatory to send information to the insurance company either by yourself or through a bank or regional agricultural officer.
Apart from this, if the farmer wants to make any other crop in place of the predetermined crop, then it will be mandatory to inform the concerned bank and insurance company by December 29. And the last date for payment of premium by farmers has been fixed 31 December 2020.
District – Sawai Madhopur
Pradhan Mantri Fasal Bima Yojana 2020 Benefits
- Through the Prime Minister Crop Insurance Scheme, farmers will be able to recover their crop losses.
- The amount of premium has been set very low by the government so that the benefit of the PMFBY scheme can be easily accessible to all the farmers.
- The premium for Rabi crops will have to be paid at 1.5%.
- You can also avail of Pradhan Mantri Fasal Bima Yojana 2020-2020 for any type of natural disaster like rain, hail, excess rain.
Prime Purpose Crop Insurance Scheme (Purpose of PMFBY Yojana 2020)
- To compensate the farmers by providing insurance cover and financial assistance to farmers in case of any loss of crop notified by the government due to natural calamities, insects and diseases, rain, drought, etc.
- To provide a permanent income to farmers.
- Encouraging farmers to adopt modern methods in agriculture.
- Determining the availability of credit in agriculture.
PMFBY Scheme Premium
Borrower Farmers – All the farmers who have taken a loan from the bank, should contact their loan payable bank branch for Pradhan Mantri Fasal Bima Yojana 2020.
Non-Indebted Farmers – Deposit in any of the branches of any nationalized, rural or co-operative bank in your service area or contact the branch of your bank or the representative of the insurance company or local public service center (CSC).
In addition to the above provisions for non-indebted farmers, it is necessary to submit a bank account, land ownership, shareholding, or tenancy certificate and crop sowing certificate to the local bank.
Exclusion – due to radioactive radiation from ionizing radiation or residues of molecular fuel; Any loss other than loss due to estimated geographic location and specific normal weather deviation over a specific time period, due to the radioactive explosion combination or hazardous properties of its radio righteous ingredient, radioactivity: explosion, etc.; If the land is not used for farming during the policy period.
PMFBY Yojana Required Documents
- A passport size photo of the applying farmer
- ID card
- Address proof
- If the farm is your own, then the field’s Khasra number, account number
- Proof of crop sowing
- Photocopy of a copy of the agreement with partner or owner if the field is in the field or on rent
- Aadhar Card
- Bank account number
PMFBY Scheme Application Form 2020 (How to apply)
Farmers can apply both offline and online for Pradhanmantri Fasal Bima Yojana 2020. You can ask for the PMFBY Yojana Application Form by going to the branch of the nearest bank to fill the offline form. And to fill the online form, you can apply by visiting the website given below.
Pradhan Mantri Fasal Bima Yojana (PMFBY) points at supporting sustainable production in the agriculture sector by way of:
- Giving financial support to farmers experiencing crop loss/damage occurring out of unexpected events.
- Supporting the income of farmers to ensure their continuation in farming.
- Supporting farmers to use innovative and improved agricultural practices.
- Ensuring the issue of credit to the agriculture area which will supplement food security, crop diversification, and enhancing the growth and competitiveness of the agriculture area besides protecting farmers from increasing risks.
The Scheme shall be achieved through a multi-agency structure by chosen insurance companies under the overall guidance & control of the Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW), Ministry of Agriculture & Farmers Welfare (MoA&FW),
Government of India (GOI) and the concerned State in coordination with several other companies; viz Financial Institutions like Commercial Banks, Co-operative Banks, Regional Rural Banks and their regulatory bodies, Government Departments.
All the farmers growing cautioned crops in a notified area during the season who have an insurable interest in the crop are suitable.
Compulsory coverage : The registration under the scheme, subject to settlement of insurable interest on the cultivation of the suggested crop in the mentioned area, shall be required for following categories of farmers:
- Farmers in the mentioned area who own a Crop Loan account/KCC account (called as Loanee Farmers) to whom credit limit is sanctioned/renewed for the suggested crop during the crop season.
- Such as other farmers whom the Government may choose to include from time to time.
Voluntary coverage : Voluntary coverage may be received by all farmers not included above, including Crop KCC/Crop Loan Account holders whose credit limit is not renewed.
PMFBY Portal: https://pmfby.gov.in/
Pradhan Mantri Fasal Bima Yojana Form PDF
PMFBY Online Application
PMFBY portal by visiting the portal link: http://pmfby.gov.in/
Pradhan Mantri Fasal Bima Yojana Online Registration
To register yourself with PM Fasal Bima Yojana follow the following steps:
You will see at the top right front of the landing page. If you are an old user, click on ‘Sign In’ to reach the PMFBY portal.
- Enter your Login ID
- Enter your password
- Click on forgot password if you forgot your password.
- Enter the captcha and click on submit.
Pradhan Mantri Fasal Bima Yojana Online Registration
You will see at the top right side of the landing page. If you are an old user, click on ‘Register’ to reach the PMFBY portal.
Click on ‘Login with old User ID’ if you are an old user and wish to log in to the portal.
Select the User type, User Division, Bank, State, District, and Branch and enter your password. Click ‘Proceed’ to continue.
- Fill the required details and click ‘Proceed’ to continue.
- Click to Discard
- Click to Create a user
- Click ‘Agree’ to proceed further
- Click ‘Start’ to complete your profile
- The user will see a profile as shown in the picture. The user is required to fill all the features to complete the form.
- Click here to change profile picture
- Click here to verify your phone number
- Click here to request OTP via call
- Click ‘Resend’ if you wish to receive OTP again
- Click ‘Verify’ after entering the OTP
- Choose notification preference here
- Turn ON email notifications here
- Turn ON SMS notifications here
- Click here to change your password
- Click on submit
Pradhan Mantri Fasal Bima Yojana List
Department of Agriculture Cooperation & Farmers Welfare has selected/impaneled Agriculture Insurance Company of India(AIC) and any private insurance companies directly to participate in the Government-sponsored agriculture /crop insurance schemes based on their financial health, infrastructure, manpower, and expertise, etc. The empaneled insurance companies at present are:
- Agriculture Insurance Company of India Ltd
- ICICI-Lombard General Insurance Company Ltd
- HDFC-ERGO General Insurance Company Ltd.
- IFFCO-Tokio General Insurance Company Ltd.
- Cholamandalam MS General Insurance Company Ltd.
- Bajaj Allianz General Insurance Company Ltd.
- Reliance General Insurance Company Ltd.
- Future Generali India Insurance Company Ltd.
- Tata-AIG General Insurance Company Ltd.
- SBI General Insurance Company Ltd.
- Universal Sompo General Insurance Company Ltd.
The only government insurance company on this list, the Agriculture Insurance Company of India, exited the scheme after making large gains in the first year.