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Monday, May 27, 2024
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Pradhan Mantri Fasal Bima Yojana

New Delhi: Pradhan Mantri Fasal Bima Yojana (PMFBY) has been under implementation in the country including the States of Andhra Pradesh and Telangana since Kharif 2016 season.

Various measures namely, timelines for settlement of claims, leveraging of technology for assessment of yield by State Government agencies using smartphone/CCE Agri App, integration of all individual farmer data on National Crop Insurance Portal etc. have been taken under PMFBY.  However, due to use of manual process for transmission yield data; late release of their share in premium subsidy by some States like Andhra Pradesh and Telangana; yield related disputes between insurance companies and States, non-receipt of account details of some farmers for transfer of claims etc. settlement of claims in some States has been delayed under the scheme.

To resolve the issue of delay in payment of claims, timelines have been tightened and penalty provision of 12% interest rate per annum by Insurance Company to farmers for delay in settlement claims beyond 10 days of prescribed cut-off date for payment of claims; 12% interest rate for delay in release of State share of Subsidy beyond three months of prescribed cut-off date/submission of requisition by Insurance Companies etc. have been prescribed in the revised Operational Guidelines issued recently. Season-wise/Year-wise and State-wise details of farmer enrolled under the Pradhan Mantri Fasal Bima Yojana (PMFBY), since its inception from Kharif 2016 till Rabi 2017-18, are given in   Annexure.

 

 This information was given by  Minister of State for Ministry of Agriculture & Farmers Welfare  Parshottam Rupala

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