Centre gives permission to paddy and banana farmers of Tirunelveli to insure their crops during ‘kar' season
Water level in the Papanasam and Manimuthar dams, both getting water during the southwest and northeast monsoons, is in satisfactory position after the southwest monsoon started in the last week of May. As the State Government released water from Papanasam dam for 'kar' paddy cultivation in the first week of June, the farmers in the district have cultivated paddy and plantain across the district. Hence, the district administration had forwarded proposals to the State and the Union Governments for insuring the paddy and banana crops to save the farmers from possible crop loss due to the natural calamities like flooding or drought.
Now, Universal Sompo General Insurance Company Limited has been hand-picked for insuring the paddy raised during the 'kar' season in 141 villages and banana in 29 firkas. Farmers having unique identity number can insure the paddy and banana under this scheme.
While the last date for paying premium for insuring paddy is July 31, the last date for banana is September 16. Hence, paddy and the banana farmers in these notified villages and firkas can insure their crops through the nationalised banks or the common service centres in their areas.
The farmers should submit the filled-in application forms, 10.1 adangal given by the Village Administrative Officer concerned for the current season, the first page copy of the bank passbook with account number, which should have been linked to the applicant farmer's Aadhar number, copy of the Aadhaar card, copies of chitta and patta at the time of registration and paying the insurance premium.
Moreover, the farmers can also insure their crop directly by uploading the documents via www.pmfby.gov.in.
The premium for insuring paddy per acre is ₹720 and ₹1,801 for banana per acre.
If the farmers suffer crop loss, ₹36,000 per acre will be given as compensation for paddy and banana growers will get ₹89,600 per acre based on the survey to be done for assessing yield loss. The insurance benefit will be paid in the farmers' bank accounts submitted at the time of registration and paying the insurance premium.
For more information, the farmers may contact the Assistant Director of Agriculture of their areas or call the toll-free number 14447, District Collector R. Sukumar said in a statement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
42 minutes ago
- Business Standard
Cheats posing as EPFO agents are a threat: Red flags and how to stay safe
Cheats posing as agents of the Employees' Provident Fund (EPF) are duping subscribers of the pension scheme by offering faster withdrawals or assistance in claims. Experts warn that people may lose their hard-earned retirement savings to such fraud. How these scams work Scammers often contact EPFO members via calls, emails, or even WhatsApp messages, claiming to be officials or authorised agents. They lure people by: Offering faster PF claims or early withdrawals for a 'small processing fee'. Asking for sensitive details like Aadhaar, PAN, UAN, OTPs, or bank account credentials. Claiming the account is 'frozen' and needs reactivation via a link or payment. Once these details are shared, fraudsters can siphon off funds or misuse the personal information for identity theft. Why EPFO does not appoint agents The Employees' Provident Fund Organisation has repeatedly clarified that it does not authorise any middlemen or third-party agencies for withdrawals, account updates, or claim settlements. All services are available free of charge through the EPFO portal ( the UMANG app, or regional EPFO offices. Tips to protect your EPF account take these measures: Never share UAN, OTP, or bank account information with anyone claiming to be an EPFO agent. Access EPFO services only via official platforms like the EPFO website and UMANG app. Ignore suspicious calls or emails asking for payments or login credentials. Regularly check your PF balance and passbook for unauthorised transactions. What to do if you're targeted If you suspect fraud, immediately report the matter to your bank and lodge a complaint with EPFO's grievance portal. You can also call the EPFO helpline (14470) for guidance.
News18
an hour ago
- News18
PM Kisan 20th Installment Date: Will Income Tax-Paying Farmers Or Their Spouses Receive The Rs 2,000 Tranche?
PM Kisan 20th Installment Date: According to guidelines, income tax-paying individuals are not eligible for PM-Kisan benefits — regardless of how small their landholding may be. PM Kisan 20th Installment Date: As a week into the month of July has already passed, lakhs of Indian farmers are awaiting the 20th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme. Prime Minister Narendra Modi is likely to release the next tranche of Rs 2,000 to cultivators this month. However, there has been no official announcement about the release date of the payout. Last year, PM Modi had released the June installment in June. This year, however, the timeline appears to be shifting, with July now emerging as the likely period for the release. According to the scheme's official guidelines, income tax-paying individuals are not eligible for PM-Kisan benefits — regardless of how small their landholding may be. Any person who has paid income tax in the last assessment year is excluded from the scheme, according to the eligibility clause. This exclusion also extends to the spouse of the taxpayer. This means if a farmer or their husband/wife filed and paid income tax for the previous financial year (AY 2024-25), they will not be eligible to receive the upcoming 20th installment — even if they have received past payments. Farmers with a secondary income — like part-time teaching, pension, or shopkeeping — are required to pay income tax if such income crosses exemption limit of Rs 3 lakh under the new scheme. If you're a farmer and uncertain about your eligibility, here's what you can do: Check your status on under 'Beneficiary Status' using your Aadhaar or bank account number. If your name is not showing, verify whether you or your spouse filed income tax last year. If there has been a mistake, you can approach your District Grievance Redressal Committee or contact your local CSC (Common Service Centre) for rectification. PM Kisan: How To Search Your Point Of Contact For Any Query? In case of issues such as e-KYC failure, incorrect bank details, Aadhaar mismatch, mobile number errors or any other issue, farmers are advised to verify their details and reach out to the correct point of contact (PoC). Here's how you can find your point of contact under the PM-Kisan scheme: 1. Visit PM Kisan's official website, 2. Scroll a bit and click on 'Search Your Point of Contact (POC)' 3. Select 'Search Distric Nodal'. 4. Select your state and district. Now, the name of the official, his designation, his mobile number and email-ID address will be displayed. You can contact them for any PM Kisan-related query. PM Kisan: When Will PM Modi Release the 20th Installment? PM Modi is expected to release the 20th installment of the PM Kisan scheme in July 2025. The last (19th) installment was issued in February 2025. Why Is 20th Installment Getting Delayed? The PM Kisan installment usually comes in February, June, and October. Many expected a similar timeline this year. However, this time, the 20th installment seems to have got delayed as there is no official announcement on the date so far. There have also been no official words on the reason why it is getting delayed this time. However, reports suggest that the amount will most likely be released in July by PM Modi at an event, which will be announced soon. How To Complete e-KYC? As the installment is expected to come soon, eligible farmers are required to complete before that to avoid payment failure. e-KYC (Electronic Know Your Customer) is mandatory for all PM Kisan beneficiaries. Without it, your name may be dropped from the beneficiary list. As per the scheme's official website, 'eKYC is MANDATORY for PMKISAN Registered Farmers." You can complete e-KYC in three simple ways: OTP-based e-KYC, biometric e-KYC, facial authentication. How To Check Your PM-Kisan Installment Status Visit Click on 'Know Your Status' Enter your registration number or Aadhaar number Check whether your name is on the beneficiary list Also ensure that your eKYC is completed, as it is mandatory for installment release. What Is The PM Kisan Scheme? Launched in 2019 after being announced in the Interim Budget by then Finance Minister Piyush Goyal, the PM Kisan scheme has become the world's largest DBT scheme. Under it, eligible farmers receive Rs 2,000 every four months totaling Rs 6,000 annually in the following cycles — April-July, August-November, and December-March. The money is deposited directly into the bank accounts of the beneficiaries. Who Is Eligible for PM Kisan? To qualify for the PM Kisan's 20th installment, one must: Be a citizen of India Own cultivable land Be a small or marginal farmer Not be a pensioner receiving Rs 10,000 or more per month Not have filed income tax Not be an institutional landholder. How To Apply For PM Kisan Samman Nidhi? top videos View all Go to Click on 'New Farmer Registration' Enter your Aadhaar number and captcha Fill in the details, click 'Yes' Complete the form, submit it, and take a printout For any queries, you can call the PM-KISAN helpline numbers — 155261 and 011-24300606. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : PM Kisan instalment PM Kisan Samman Nidhi PM Kisan Scheme Location : New Delhi, India, India First Published: July 07, 2025, 12:33 IST News business » economy PM Kisan 20th Installment Date: Will Income Tax-Paying Farmers Or Their Spouses Receive The Rs 2,000 Tranche?
Time of India
2 hours ago
- Time of India
Digital payments vs digital risks: India's fintech ambitions and bridging a trust gap with AI
India's digital prowess has accelerated phenomenally over the past few years. (AI image) By Kunal Pande, National Co-Head, Digital Risk and Cyber, KPMG in India India's digital prowess has accelerated phenomenally over the past few years. Riding high on its digitalisation and FinTech ambitions, the country has rolled out several pathbreaking programmes such as Aadhaar, Unified Payments Interface (UPI), CKYC (Common KYC), Securities Dematerialization, Account Aggregation, ONDC, etc. With the advent of artificial intelligence (AI), financial institutions in India are leveraging advanced techniques to provide seamless interactions across all touchpoints. However, even as India's banking, financial services, and insurance (BFSI) sectors have achieved a commendable feat in digitalising the payments system to drive financial inclusion, it comes with an unavoidable downfall of digital risks. Companies in the financial services sector are among the most at-risk in the world when it comes to cybersecurity threats. Industry studies predict that cost of cybercrime in the industry is set to scale up drastically somewhere in the region of to USD 10.5 trillion annually by 2025, up from USD 3 trillion a decade ago. Projections such as these make a compelling case for putting stronger security systems in place for safeguarding important financial data of consumers and building trust in the long run. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Por qué está en boca de todos esta inteligencia artificial que hace dinero? IA CFD Solicita ahora Undo It also exemplifies how cybercriminals have kept pace with advances in FinTech, thereby creating new and, at times, even sophisticated schemes and strategies to exploit digital payment products and services. Moreover, with several customers just about getting acquainted with digital financial products, they tend to be highly vulnerable to the risks of online fraud, information theft, and malware or virus attacks. At the same time, companies that are nascent in their digitalisation journey can have weaknesses in their cyber security and technology resilience capabilities, thus falling prey to the risk of data breaches and service disruptions. These risks have led to increased government and regulatory action in terms of a flurry of statutes and regulations. Consequently, BFSI industries along with FinTech and other Tech partner companies are constantly focused on balancing the need to build convenient and fit for purpose offerings with prioritising identification and management of increased risks, including financial crime to sustain stakeholder trust and deliver value. At a time when AI has been embedded into fintech services for providing superior customer experiences and streamline employee functions for enhanced productivity, it can also be beneficial for effectively managing digital risks. A case in point is the use of GenAI, which as per 76% of financial services executives can be highly effective for fraud detection and prevention. These are also the two most critical areas where Gen AI, with its ability to consume large data sets to base its predictive outcomes on is likely to find most application in the near- to mid-term, across the sector. India already has multiple evidence-based examples that complement this global trend. For instance, a leading provider of OPD and IPD health claims processing services in the country has deployed an AI-driven SaaS/PaaS platform, which is helping minimise fraud, optimise resource utilisation, and enhance healthcare insurance management for insurers. The company has reduced average claim handling time by 40% and enhanced fraud detection capabilities, identifying 5x more fraudulent claims than conventional methods. Some of the most common threats that we see impacting the payments industry today are micro-structuring, identity theft, and the use of third parties. While overcoming these digital risks could feel like a daunting task, digital payment providers should consider layered capabilities delivering comprehensive prevention as well as quick detection and response. Using AI can help companies take a proactive approach by setting up a continuously evolving and comprehensive monitoring mechanisms that can faster detecting unusual login patterns or suspicious data requests and provide actionable insights or even automate action. Furthermore, personalization that is associated with customer engagement in terms of offering fit for purpose and curated offerings can also be used to build persona with behaviour and risk profiles to act like a person security guard. An industry report has shown some promising results regarding the use of AI in cybersecurity. Though the financial sector is one of the prime targets for cybercriminals, organisations that use AI extensively in their security protocols experienced data breach costs that were, on average, USD1.76 million lower compared to no use. They were also able to detect and contain breaches an average of 108 days faster than those not utilising AI capabilities. Enhanced accessibility of digital financial services worldwide, means that digital payment services will continue to draw more customers, making managing digital risks more pertinent than ever before. In 2022, the global digital payment market size was valued at USD 81.03 billion, with global digital payments valued at over USD 8 trillion, and the market size is only expected to continue, at an annual growth rate of around 20% in the next seven as the third largest fintech economy in the world, India's fintech market is expected to reach $145.09 country is proactively harnessing the power of tech-led innovation to carve its unique path of digitalisation with AI. As BFSI firms in India strive to become future-ready by infusing AI across the value chain, they will have to keep security and resiliency at the centre. Investing well in building a strong AI-led digital payment network, will not only help India achieve its fintech projections, but also elevate itself to the position of a global leader in this domain. (Kunal Pande is National Co-Head, Digital Risk and Cyber, KPMG in India) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
