Latest news with #PMFBY
The Hindu
3 days ago
- Business
- The Hindu
Raising awareness on crop insurance among farmers is officials' duty, says DC Fouzia Taranum
With the onset of the monsoon and sowing activities gaining pace, Deputy Commissioner of Kalaburagi, Fouzia Taranum, has directed officials to actively raise awareness among farmers about the importance of availing crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY). Chairing a meeting of bank officials involved in crop loan disbursement at her office on Friday, Ms. Taranum stressed that educating farmers about the need for crop insurance is not just a recommendation but a responsibility for all banks that have issued agricultural loans. 'In Kalaburagi district, over three lakh farmers have received agricultural loans totalling ₹3,800 crore from various banks. Every one of these beneficiaries must be made aware of the benefits of crop insurance,' she said. 'The premium amount for crop insurance is minimal, but the protection it offers during unforeseen calamities is enormous. It is essential to convince all these farmers to enrol in the scheme by July 31 and achieve 100% coverage.' She added that if officials and bankers fail to carry out the awareness drive and enrolment effectively, strict action would be initiated against them. 'Each bank and department must ensure that crop insurance details, particularly the major crops of the district, are disseminated at the taluk and gram panchayat levels, while other crop details should be shared at the hobli level,' she said. For the 2025-26 Kharif season, IFFCO-Tokio General Insurance Company Ltd. has been appointed as the implementing insurance agency for the Kalaburagi district under the PMFBY. Farmers seeking more information on the scheme can call the helpline number 1800-200-5142 or visit their nearest Raita Samparka Kendra or Assistant Director of Agriculture office. Ms. Taranum also instructed the Agriculture Department to make full use of media channels to create mass awareness about crop insurance and ensure that farmers understand its benefits and procedures. Joint Director of Agriculture, Samad Patel, and senior officials from various banks participated in the meeting.
Hans India
5 days ago
- Business
- Hans India
Farmers asked to register for crop insurance before July 31
Tirupati: Farmers in Tirupati district have been urged to take advantage of the crop insurance schemes available for the kharif 2025-26 season. Joint Collector Shubham Bansal, who chaired a District Level Monitoring Committee meeting on crop insurance on Tuesday, underscored the importance of safeguarding farmers against potential crop losses. The meeting was attended by officials including district agriculture officer Prasad, horticulture officer Dasaradha Rami Reddy, Lead bank manager Guntur Ravi Kumar, and insurance representatives. The Joint Collector explained that under the Pradhan Mantri Fasal Bima Yojana (PMFBY), paddy and bajra (pearl millet) have been notified for the kharif season. Paddy insurance is calculated at the village level, while bajra is insured at the district level. Future Generali India Insurance Company is the implementing agency. For paddy, the sum insured is Rs 1,05,000 per hectare, with a farmer premium of Rs 420 per hectare (Rs 168 per acre). For bajra, the sum insured is Rs 40,000 per hectare, and the premium is Rs 160 per hectare (Rs 64 per acre). The last dates for premium payments are August 15, 2025, for paddy and July 31, 2025, for bajra. Farmers can register via the National Crop Insurance Portal (NCIP). Those with crop loans from June 2025 onwards will have their premiums deducted by the bank unless they opt out through a written application submitted a week before the deadline. Farmers who did not avail crop loans can register via Common Service Centres (CSCs) or directly on the NCIP portal by uploading necessary documents, including Aadhaar, land records and bank details. Shubham Bansal urged farmers to enroll within the deadlines and make full use of these protective measures. He also launched a crop insurance awareness poster during the meeting, attended by district agriculture and horticulture officials, banking representatives, and insurance staff.
The Hindu
6 days ago
- Business
- The Hindu
Insurance companies urged to pay interest on delayed crop insurance claims
Senior advocate and farmer activist Vajnath Zhalki has urged the government of Karnataka and insurance companies to clear claims for the crop loss suffered in 2024. Addressing press persons in Kalaburagi on July 14, Mr. Zhalki said that farmers are eligible to claim interest on delayed crop insurance payment. If the insurance companies fail to settle claims within the stipulated period, they are liable to pay the insurance claim, along with the 12% interest to distressed farmers under Pradhan Mantri Fasal Bima Yojana (PMFBY) Mr. Zhalki urged the Agriculture Department and insurance Companies to encourage widespread crop insurance adoption by creating awareness about its benefits, and simplifying the enrollment process. Of nearly seven lakh farmers engaged in agricultural activities in the Kalaburagi district, only 2.5 lakh farmers opted for crop insurance in 2024, he added. He demanded that the Agriculture Department launch awareness campaigns at gram panchayat level to educate farmers about benefits of PMFBY, and encourage them to insure their crop to mitigate financial risks associated with crop loss.
Hans India
12-07-2025
- Climate
- Hans India
Farmers urged to utilise crop insurance schemes
Vijayawada: NTR district Collector Dr G Lakshmisha has urged farmers to voluntarily avail themselves of Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Re-structured Weather Based Crop Insurance Scheme (RWBCIS). These schemes provide crucial insurance compensation for various crops in the event of natural calamities such as cyclones, droughts, and unseasonal rains. Collector Lakshmisha chaired a review meeting with officials from the Agriculture and Horticulture departments on PMFBY and RWBCIS. During the meeting, he announced that for the current Kharif season in the district, paddy, red chili, maize, and green gram crops have been notified under the yield-based PMFBY. Cotton has been notified under RWBCIS. The Collector explained that the village has been notified as the insurance unit for paddy, the mandal for red chili, and the district for maize and green gram. Tata AIG Insurance Company has been selected for the implementation of PMFBY, and IFFCO Tokio General Insurance Company for RWBCIS. The Collector advised farmers to stay away from intermediaries and brokers regarding crop insurance and instead utilise the services of CSCs. Collector Lakshmisha instructed field-level agriculture and horticulture officers and staff to provide necessary assistance and guidance to farmers to help them utilise the crop insurance schemes effectively. For paddy, the insured amount per acre is Rs 42,500, with a premium of Rs 850, and registration must be completed by August 15. District Agricultural Officer DMF Vijayakumari, Horticulture Officer P Balaji Kumar and other officials also participated.
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Business Standard
09-07-2025
- Business
- Business Standard
10 years on, time to reassess PM Fasal Bima Yojana: AIC of India's Mundayur
Single national scheme predominantly funded by the Centre is best option, says Lavanya R. Mundayur premium Listen to This Article With the Narendra Modi government's flagship crop insurance scheme, the Pradhan Mantri Fasal Bima Yojana (PMFBY), nearing a decade since launch, Lavanya R Mundayur, chairman and managing director of the Agriculture Insurance Company (AIC) of India, spoke with Harsh Kumar and Sanjeeb Mukherjee in New Delhi a few days ago. She shared her views on the scheme's performance, the lessons learnt, and where course correction is needed. She also discussed AIC's road map and its plans for business expansion. Edited excerpts:
