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PMFBY: insurance application process for rabi crops begins, deadline is 31st december

Pradhan Mantri Fasal Bima Yojana
Pradhan Mantri Fasal Bima Yojana

The last date to apply for insurance under the Pradhan Mantri Fasal Bima Yojana for Rabi crops has been set as 31st December. In Ajmer district, the implementation of this scheme is being carried out by the Agriculture Insurance Company of India Limited, which has been authorized by the state government. The company’s appointed Tehsil Insurance Representatives are providing full support to the farmers.

Insurance Process for Borrowing and Non-Borrowing Farmers:

Joint Director of the Agriculture Department, Mr. Shankar Lal Meena, informed that for the Rabi 2024-25 seasons, crop insurance can be availed by farmers taking crop loans, non-loan farmers, and sharecroppers. Loan farmers can apply for insurance at their respective bank branches, while non-loan farmers can apply through the nearest Central Cooperative Bank, Regional Rural Bank, Commercial Bank, Post Office, notified insurance agents or Common Service Centers until 31st December.

Farmers who do not wish to avail of the scheme were required to submit a declaration form by 24th December. The last date for informing the financial institution about any changes in insured crops by loan farmers is 29th December.

Notified Crops and Premium Rates:

For Rabi 2024-25, crops like Chickpea, Cumin, Barley, Mustard, Taramira, and Wheat have been notified. The premium amount to be paid by the farmers will be a maximum of 1.5% of the insured value of the crop, and for horticultural and commercial crops, the maximum premium will be 5%. The remaining premium amount will be equally shared by the central and state governments.

Insured Crop Amount and Premium Details:

  1. Wheat: Insured amount ₹71,411 per hectare, Farmer’s premium ₹1,071.17 per hectare
  2. Chickpea: Insured amount ₹53,313 per hectare, Farmer’s premium ₹799.70 per hectare
  3. Barley: Insured amount ₹52,016 per hectare, Farmer’s premium ₹780.24 per hectare
  4. Mustard: Insured amount ₹95,781 per hectare, Farmer’s premium ₹1,436.72 per hectare
  5. Taramira: Insured amount ₹38,092 per hectare, Farmer’s premium ₹571.38 per hectare
  6. Cumin: Insured amount ₹1,29,165 per hectare, Farmer’s premium ₹6,458.25 per hectare

Read More... Pradhan Mantri Fasal Bima Yojana, insure your Rabi Crops by December 31

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