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Pradhan Mantri Fasal Bima Yojana: How to apply for Pradhan Mantri Fasal Bima Yojana at pmfby.gov.in? PM Fasal Bima Yojana Eligibility, Features

Pradhan Mantri Fasal Bima Yojana:  The Pradhan Mantri Fasal Bima Yojana is a central government-led crop insurance scheme. PM Fasal Bima Yojana encourages farmers to take innovative and modern farming practices and also Pradhan Mantri Fasal Bima Yojana stabilize farmers incomes to ensure their continuation in agriculture. Avail of the information on Pradhan Mantri Fasal Bima Yojana Online Registration, Pradhan Mantri Fasal Bima Yojana Features, Pradhan Mantri Fasal Bima Yojana Details and more from this article.

by Niranjani | Updated Jun 15, 2020 10:38 AM

Pradhan Mantri Fasal Bima Yojana: How to apply for Pradhan Mantri Fasal Bima Yojana at pmfby.gov.in? PM Fasal Bima Yojana Eligibility, Features

Pradhan Mantri Fasal Bima Yojana:

The PMFBY replaces all of India 's prevailing yield insurance schemes. The scheme was launched with an impetus on the crop sector. The scheme extended coverage under localized risks, post-harvest losses, etc. and aims to adopt technology for yield estimation purposes.

What is the objective of Pradhan Mantri Fasal Bima Yojana?

Pradhan Mantri Fasal Bima Yojana objective (PMFBY) is to promote sustainable production in the agricultural sector by

  • Providing financial assistance to farmers suffering crop loss/damage from unforeseen events

  • Stabilizing farmers ' incomes to ensure their continuation in agriculture 

  • Encourage farmers to take innovative and modern farming practices

  • Ensuring credit flow to the agricultural sector, which will lead to food security, crop diversification, and improve the growth and profitability of the agricultural sector, in addition to protecting farmers from the risks of production

What are the features of Pradhan Mantri Fasal Bima Yojana?

The new scheme envisages many new things like the use of innovative technologies such as satellite imagery, vegetation indices, etc. coupled with the compulsory use of smartphones/handheld devices to increase speed and accuracy during yield estimation. The scheme also encourages the digitisation of land records in order to reduce the area gap in coverage.

All efforts are being made to raise awareness among farmers about PMFBY so that the scheme can enroll as many farmers as possible.

Who can apply for Pradhan Mantri Fasal Bima Yojana?

All farmers who grow notified crops in a notified region that have an insurable interest in the crop during the season are liable. 

Compulsory coverage: the registration under the scheme is mandatory for the following categories of farmers, subject to the possession of insurable interest on the cultivation of the notified crop in the notified area:

Farmers in the notified area who have a Crop Loan / KCC account (called Loanee Farmers) to whom the credit limit for the notified crop during the crop season is sanctioned/renewed. 

Such other farmers may be included from time to time by the Government.

Voluntary coverage: All farmers not covered above, including holders of Crop KCC / Crop Loan Account whose credit limit is not renewed, may obtain voluntary coverage.

Pradhan Mantri Fasal Bima Yojana: Unit of Insurance

The scheme shall be implemented on the basis of a 'Area Approach' i.e., Defined Areas for each notified crop for widespread disasters on the assumption that all insured farmers in the Insurance Unit are to be defined as 'Notified Area' for a crop. Faced with similar risk exposures, incur to a large extent identical production costs per hectare, earn comparable farm income per hectare, and experience a similar extent of crop loss in the notified area due to the operation of the insured peril.

Established area (i.e., the unit area of insurance) is Village / Village level Panchayat by whatever name such areas may be named for major crops and maybe a unit of size above Village / Village level Panchayat for other crops. Over time, the Insurance Unit may be a Geo-Fenced / Geo-mapped region with the notified crop's homogeneous risk profile.

How to apply for Pradhan Mantri Fasal Bima Yojana?

Farmers taken loans from banks or cooperative societies may enroll through the same bank. And, farmers who have not borrowed can apply through banks, brokers, CSC e-Governance Services India Limited or through the website directly. Follow the steps- to apply for online crop insurance under Pradhan Mantri Fasal Bima Yojana

  • Visi the official website

  • Click on Farmer Corner

  • Farmers who have registered already can proceed to get enrolled under the PMFBY  

  • New farmers have to register by filling the registration form

Disclaimer: The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

Pradhan Mantri Fasal Bima Yojana- FAQ

1. What is Pradhan Mantri Fasal Bima Yojana?

The PMFBY replaces all of India 's prevailing yield insurance schemes. The scheme was launched with an impetus on the crop sector. The scheme extended coverage under localized risks, post-harvest losses, etc. and aims to adopt technology for yield estimation purposes.

2. Who can apply for Pradhan Mantri Fasal Bima Yojana?

All farmers who grow notified crops in a notified region that have an insurable interest in the crop during the season are liable. Pradhan Mantri Fasal Bima Yojana is eligible for farmers of Compulsory coverage, Voluntary coverage.  

3. How to apply for Pradhan Mantri Fasal Bima Yojana?

To apply for the Pradhan Mantri Fasal Bima Yojana follow the steps provided below. 

Visi the official website

  • Click on Farmer Corner

  • Farmers who have registered already can proceed to get enrolled under the PMFBY  

  • New farmers have to register by filling the registration form