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.
Increased Farmer Confidence
Boosts confidence among farmers to undertake farming with reduced risk.

Eligibility for the Scheme

Eligibility Criteria Details
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.

                                                  Official Website
How to Apply for “Pradhan Mantri Fasal Bima Yojana”

  1. Visit the nearest bank: Farmers can visit the nearest bank branch participating in the scheme.
  2. Fill the application form: Obtain and fill the PMFBY application form.
  3. Submit documents: Provide the required documents (detailed below).
  4. Pay the premium: Pay the applicable premium amount at the bank.
  5. Get receipt: Ensure you receive an acknowledgment receipt for the application and premium payment.
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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

  1. Visit the PMFBY official website: Go to the PMFBY portal.
  2. Login with credentials: Use your registered mobile number and OTP to log in.
  3. 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.

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