The insurance service for farmworkers for their crop yield, launched by PM Narendra Modi on 18 February 2016 by Pradhan Mantri Fasal Bima Yojana (PMFBY). It was developed on a one-Nation basis by replacing, by incorporating its best properties and removing its inherent disadvantages, two previous schemes, National Agricultural Insurance Schemes, and Modified National Agricultural Insurance. It aims to lower farmers’ higher price burden and to make sure that the full covered by insurance amount is reimbursed slightly earlier for crop insurance.
The Department of Plantation industries And Commodities, New Delhi, has issued revised operational guidelines that are obligatory on all contributors and provide comprehensive information on the Programme. The same can be seen at pmfby.gov.in. Under the said operating guidelines, there are wings provided.
PMFBY – Details are provided below. Self-employed entrepreneurs with yearly incomes of around Rs 1.5 crore who operate as store owners, business owners, rice mill owners, boiler fuel shareholders, workshop owners, commission agents, real estate brokers, or others with comparable vocations are qualified to profit from this program. The initiative was introduced in the 2019 budget speech and implemented on February 15, 2019, by the Ministry of Labor and social and Employment government organization.
Contents
Highlights of PMFBY (PM Fasal Bima Yojana)
| Name of scheme | PMFBY (Pradhan Mantri Fasal Bima Yojana) |
| Launched by | Ministry of agriculture & farmers welfare |
| Beneficiaries | Small farmers of India |
| Major benefit | To stabilize the income of farmers to ensure their continuance in farming. |
| Scheme objective | To inspire sustainable agriculture output by offering financial assistance to farmers who have suffered crop damage or injury due to unanticipated calamities. |
| Scheme under | Central government |
| Post category | Scheme/yojana |
| Official website | pmfby.gov.in |
PMFBY (PM Fasal Bima Yojana): Adoption of Technology for Scheme Regime
The Government of India has planned and created a National Government Subsidy Portal (NCIP) in order to integrate innovation into the Agreement’s development and implementation (www. pmfby.gov.in). Farmers, cities, companies, and banks will benefit from improved management and collaboration, as well as real-time information distribution and openness.
The Portal’s proper operation necessitates the active engagement of several partners who will be responsible for census processing and maintenance.
PMFBY (PM Fasal Bima Yojana): Latest News & Updates
The Centre will share the high-end subsidy for the Pradhan Mantri Fasal Bima Yojana with the North East states.
Appreciating Prime Minister Narendra Modi vision of providing financial security to Indian farmers from the climate variability and safeguarding their hard work, strategies such as PMFBY will provide healthcare insurance and monetary support to farmworkers in the event of a loss caused by natural disasters, pests, and illnesses, as well as stabilize farmers’ revenue to ensure their continued participation in agriculture.
FM Nirmala Sitharaman matches with insurers’ heads and emphasizes the importance of faster settling claims.
According to an official comment, she emphasizes the importance of modernizing the process and documentary evidence requirements under the strategies during a virtual meeting with the chiefs of health insurers.
| PMFBY (PM Fasal Bima Yojana): Schemes |
Food production, seed production, and economic growth will all benefit from this sector. Increasing the agricultural sector’s development and economic growth, as well as farmers are being protected from credit risk. |
The following are the PMFBY’s key features and advantages:
The PMFBY scheme comes with various benefits for the farmers. It aims at benefiting the condition of farmworkers and establishing an improved status of farmers. Following are the points explaining the benefits of PMFBY –
- Luxurious Rates That Are Consistent
- The PMFBY standard rate is the same for all farmers. In the news piece, we go over the predetermined prices in greater detail.
- High Reportage for a Low Premium
- As can be seen above, the farmer’s share of the premium is very small. The remainder is handled by the government. This means that farmers will be able to obtain comprehensive coverage at a lower higher cost.
- ·New technologies are used to capture and transmit information of the loss/damage to the goods or services, reducing the time required to settle claims.
- Governance by a single person
- A single insurance provider manages beneficiary enrollment, scheme understanding, and claim processing.
- Transactions for Claims Made on Account
- The program offers farmers with on-account claim payments if their food product suffers local losses.
- There is also Loss Evaluation in this scheme.
- Harvest loss is judged on a strategy-based basis in the event of extreme weather conditions and unusual weather rains.
Registration Process for PMFBY: (PM Fasal Bima Yojana)
How to Register Online?
The following is the complete process of how to apply for agriculture insurance under the PMFBY 2022 program. With the official PMFBY portal, users can apply online from their smartphones or desktop/laptop devices.
- Go to pmfby.gov.in to access the official PMFBY site
- Visit the “Farmer Corner – Apply for Crop Insurance Yourself” section of the homepage.
- On logging in, click on the “Guest Farmers” tab for access to the form for registering as a PMFBY farmer or click here directly, https://pmfby.gov.in/farmerRegistrationForm.
- The online application form for the Pradhan Mantri Fasal Bima Yojana for 2020 will appear.
- To register farmers, you must submit their information, such as name, mobile number (Also verify your mobile number), residential details, farmer ID (the Aadhar number must be verified), bank account number, and details, and then click the “Create User” button.
- Involves farmers logging in using their registered mobile numbers to continue filling out the crop insurance application, uploading the required documents, and completing the online application process by this pmfby.gov.in/farmerLogin.
How to Register Offline?
How to Register Online?
The following is the complete process of how to apply for agriculture insurance under the PMFBY 2022 program. With the official PMFBY portal, users can apply online from their smartphones or desktop/laptop devices.
- Go to pmfby.gov.in to access the official PMFBY site
- Visit the “Farmer Corner – Apply for Crop Insurance Yourself” section of the homepage.
- On logging in, click on the “Guest Farmers” tab for access to the form for registering as a PMFBY farmer or click here directly, https://pmfby.gov.in/farmerRegistrationForm.
- The online application form for the Pradhan Mantri Fasal Bima Yojana for 2020 will appear.
- To register farmers, you must submit their information, such as name, mobile number (Also verify your mobile number), residential details, farmer ID (the Aadhar number must be verified), bank account number, and details, and then click the “Create User” button.
- Involves farmers logging in using their registered mobile numbers to continue filling out the crop insurance application, uploading the required documents, and completing the online application process by this pmfby.gov.in/farmerLogin.
How to Register Offline?
The registration process in online mode is also simple. Follow the steps below to register offline –
- You need to get all the documents required.
- Visit the local government body.
- Get the application form.
- Fill the application form and attach the required documents.
- Once you submit the application make sure to keep a check on the status of your application.
| Documents required for crop insurance under PMFBY (PM Fasal Bima Yojana) |
| Identity Card/Aadhar CardBhu-Abhilekh, Bank Passbook (Details of your Bank Account), and Sowing CertificatePMFBY List of DocumentsPMFBY List of DocumentsIt is imperative that the owner of the land obtain the Khasra Number / Khata Number document.Alternatively, sowing certificates can be made by a patwari, sarpanch, or pradhan of the village also signing the details of the sowing. Depending on your state, you will need to contact your local bank branch for details.If you are an independent farmer, you must have a copy of the agreement with the landowner, which should mention your Khasra Number/Khata Number |
Who is eligible for coverage for PMFBY: (PM Fasal Bima Yojana)?
All peasants who have been approved for Seasonal Agribusiness Activities (SAO) loans (Agricultural production Loans) from Banking Institutions (FIs), i.e. loanee farmers, will be covered statutorily for the specified crop(s) period.
Semi farmers can opt out of the scheme.
The healthcare insurance will be proportional to the sum covered per hectare, as established by the government. compounded by the seeded area for the registered crop on the National Farm Subsidy Portal.
Eligibility criteria for PMFBY:
A farmer who has a Kisan Credit Card may apply online for PMFBY if he has not taken any loans through the card. Crop insurance is mandatory for farmers who decide to use Kisan Credit cards for seasonal crop loans, so they can only apply through their banks for PMFBY (PM Fasal Bima Yojana).
PMFBY (PM Fasal Bima Yojana): Application status
Online tracking of PM Fasal Bima Yojana applications. You can check the status of your PMFBY application online by following the steps below:
- Go to pmfby.gov.in to register your PMFBY account
- The application status can be viewed on every step from the homepage by clicking the “Application Status” link.
- After the application status form appears, PMFBY will start receiving farmer applications online.
- The PMFBY farmer application status can be viewed here by entering the “Application Number” and “Captcha” and clicking on the “Check Status” button.
- In the “Application Status” banner on the homepage, one can easily check the status of an application by entering the receipt number.
PMFBY (PM Fasal Bima Yojana): Objectives
- The Pradhan Mantri Fasal Bima Yojana (PMFBY) wants to inspire sustainable agriculture output by offering financial assistance to farmers who have suffered crop damage or injury due to unanticipated calamities.
- Producers’ incomes must be stabilized in order for them to continue farming. Farmers must be encouraged to use creative and advanced farming techniques.
- Ensure a steady flow of financing to the agricultural industry, which will help to improve food security, crop diversity, as well as the agriculture industry’s growth and expansion while also safeguarding farmers from natural hazards.
- By offering financial assistance to farmers who have suffered crop loss/damage unexpected events, the scheme encourages organizations to produce innovative and modern farming methods.
- It stabilizes farmers’ incomes to ensure their long-term farming. – It ensures the supply of credit to the agriculture industry, which could contribute to food stability, crop diversification, and improving the food production sector’s productivity and sustainability, in addition to protecting farm owners from natural hazards.
PMFBY (PM Fasal Bima Yojana): Helpline contacts
If you have any concerns about PMFBY, you can contact us at the following addresses or the mail id given below:
| www.pmfby.gov.in. |
| Department of Financial Services, Ministry of Finance, 3rd Floor, Jeevan Deep Building, Sansad Marg, New Delhi-110001 Fax No. – 23742207, 23360250(Banking Division), 23344605 |
You may also read these related articles:
Frequently Asked Questions
The full form of PMFBY is Pradhan Mantri Fasal Bima Yojana.
If the applicant submits fake documents, he/she will have to return the amount and will have to face legal consequences.
An applicant can apply for the scheme through both offline and online modes.
Conclusion
The main objective of the scheme is to inspire sustainable agriculture output by offering financial assistance to farmers who have suffered crop damage or injury due to unanticipated calamities. Farmers should try to take advantage of such schemes for the benefit of the whole country as they are the backbone of our nation.