Pradhan Mantri Fasal Bima Yojana (PMFBY)
What is “Pradhan Mantri Fasal Bima Yojana”?
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is an insurance scheme launched by the Government of India in 2016. It aims to provide comprehensive insurance coverage to farmers against crop failure due to natural calamities, pests, and diseases. The scheme helps stabilize the income of farmers and encourages them to adopt innovative agricultural practices.
Benefits of “Pradhan Mantri Fasal Bima Yojana”
| Benefit | Description |
| Comprehensive Coverage |
Covers losses due to natural calamities, pests, and diseases.
|
| Financial Stability |
Provides financial support to farmers in the event of crop failure.
|
| Encouragement of Innovative Practices |
Motivates farmers to invest in advanced agricultural techniques.
|
| Affordable Premium Rates |
Farmers pay only 2% of the sum insured for Kharif crops, 1.5% for Rabi crops, and 5% for commercial/horticultural crops.
|
| Simplified Claim Settlement |
Ensures timely and easy settlement of claims through technology.
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| Increased Farmer Confidence |
Boosts confidence among farmers to undertake farming with reduced risk.
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Eligibility for the Scheme
| Eligibility Criteria | Details |
| Farmers |
All farmers growing notified crops in notified areas, including sharecroppers and tenant farmers.
|
| Loanee Farmers |
Compulsory for farmers who have taken institutional loans from banks for notified crops.
|
| Non-Loanee Farmers |
Voluntary enrollment for non-loanee farmers.
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Official Website
How to Apply for “Pradhan Mantri Fasal Bima Yojana”
- Visit the nearest bank: Farmers can visit the nearest bank branch participating in the scheme.
- Fill the application form: Obtain and fill the PMFBY application form.
- Submit documents: Provide the required documents (detailed below).
- Pay the premium: Pay the applicable premium amount at the bank.
- Get receipt: Ensure you receive an acknowledgment receipt for the application and premium payment.
Documents Required for “Pradhan Mantri Fasal Bima Yojana”
| Document | Details |
| Identity Proof |
Aadhar card, Voter ID, or any government-issued ID
|
| Land Proof |
Land ownership documents, tenancy agreement, or patta book
|
| Bank Account Details |
Passbook or bank statement
|
| Loan Proof (if applicable) |
Loan sanction letter or bank certificate
|
| Recent Photograph |
Passport-sized photograph
|
How to Check Application Status
- Visit the PMFBY official website: Go to the PMFBY portal.
- Login with credentials: Use your registered mobile number and OTP to log in.
- Check application status: Navigate to the ‘Application Status’ section and enter your application number to view the status.
Sources and References
Common FAQs about “Pradhan Mantri Fasal Bima Yojana”
Q1: What crops are covered under PMFBY?
A1: PMFBY covers food crops (cereals, millets, pulses), oilseeds, and commercial/horticultural crops.
Q2: What is the premium rate for farmers?
A2: Farmers pay 2% for Kharif crops, 1.5% for Rabi crops, and 5% for commercial/horticultural crops.
Q3: Is PMFBY compulsory for all farmers?
A3: It is compulsory for loanee farmers and voluntary for non-loanee farmers.
Q4: How is the claim amount calculated?
A4: Claims are calculated based on the shortfall in yield from the threshold yield of the insured crop.
Q5: How to file a claim under PMFBY?
A5: Farmers can file claims through the bank where they enrolled for the scheme or through the official PMFBY website.
