Pradhan Mantri Fasal Bima Yojana
PMFBY is A government crop insurance scheme that provides financial support to farmers suffering crop loss/damage arising out of unforeseen circumstances. It aims to ensure the stabilization of income for farmers to aid their continuance in agriculture.
- Get coverage against standing crops, prevented sowing, localised calamities and post-harvest losses
- Coverage for food crops (Cereals, Millets and Pulses),Oilseeds and Annual Commercial / Annual Horticultural crops.
- Yield-based coverage
Frequently Asked Questions
Farmers can apply PMFBY scheme through Banks, Brokers, CSC and Self registration through PMFBY Portal.
Food crops (Cereals, Millets and Pulses)
Oilseeds,
Annual Commercial / Annual Horticultural crops.
If you are using an Android mobile phone, go to the Play Store, type “Kshema app”, select and download to install. Register on the app.
Documents required to apply for this scheme are Land record, Sowing Certificate, Bank Passbook and Tenancy Certificate (If applicable).
Sowing Certificate can be availed through your Village agricultural or Block Agricultural officers.
The risks covered will be based on the notification released by the state government.
This insurance scheme provides basic coverage to indemnify any losses emerging for to Yield Loss. The Yield loss (for Standing Crop) is computed on an Area Approach basis.
The other add-on coverages which a State Government may opt for and notify are the following:
- Prevented/Failed Sowing / germination failure
- Mid-Season Adversity
- Localized Risks
- Post Harvest Losses
In the case of Localised Risk Claims and Post harvest Losses, the insured is required to give an intimation to the insurance company on the losses faced and report to the Insurance company within 72 hours of the event taking place.
Sum Insured per hectare for both loanee and non-loanee farmers will be same and equal to the Scale of Finance as decided by the District Level Technical Committee and would be pre-declared by SLCCCI and notified.
The Actuarial Premium Rate (APR) would be charged under RWBCIS by implementing agency (IA). The rate of Insurance Charges payable by the farmer will be as per the following below:
- Kharif and Rabi (Annual Commercial / Annual Horticultural crops) 5% of SI or Actuarial rate, whichever is less.
- Kharif – All foodgrain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops) 2.0% of SI or Actuarial rate, whichever is less
- Rabi -All foodgrain and Oilseeds crops (all Cereals, Millets, Pulses and Oilseeds crops) 1.5% of SI or Actuarial rate, whichever is less
If the actual yield per hectare of insured crops for the insurance unit (calculated on the basis of requisite no. of CCEs) in insured season falls short of specified Threshold yield, all insured farmer in that defined area and crop are deemed to have suffered shortfall in yield.
‘Claim’ shall be calculated as per the following formula:
(Threshold Yield – Actual Yield)
———————————————————— X Sum Insured
Threshold Yield
Looking for personalised recommendations to choose the best crop insurance solution that fits your needs?
Request a
callback now!
- Coverage for 100+ crops.
- Premiums evaluated for each farm, not each area.
- Policies created based on risks faced by each individual location.