29 March 2022: Leading agritech startup nurture.farm and Digisafe insurance brokers announced their partnership on offering KAVACH - a weather-based cash guarantee program launched for nurture.farm farmers.
Admissible claims under Pradhan Mantri Fasal Bima Yojana (PMFBY) are generally paid by the insurance companies within two months of completion of Crop Cutting Experiments/harvesting period subject to availability of yield data and total State share of premium subsidy from concerned State Government within time.
Under Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS), the premium payable by farmers has been substantially reduced and simplified and there is one premium rate
New Provisions in the Operational Guidelines of Pradhan Mantri Fisal Bima Yojana (PMFBY)
The Department of Agriculture in Meghalaya is coming up with an Agriculture Policy and also Minimum Support Price (MSP) for the benefit of the farmers of the State.
The Department of Agriculture in Meghalaya is coming up with an Agriculture Policy and also Minimum Support Price (MSP) for the benefit of the farmers of the State.
Chief Minister Devendra Fadnavis said, on the state government's request, the last date for applying for benefits under the Prime Minister's Crop Insurance Scheme in Maharashtra has been extended till July 31 by the Centre.
The Odisha government has targeted to provide Rs 1,000 crore agriculture term loan to farmers this year, Chief Minister Naveen Patnaik said.
The Odisha government has targeted to provide Rs 1,000 crore agriculture term loan to farmers this year, Chief Minister Naveen Patnaik said.
The Odisha government has targeted to provide Rs 1,000 crore agriculture term loan to farmers this year, Chief Minister Naveen Patnaik said.
The Maharashtra government has decided to extend its loan waiver scheme to four lakh more farmers in the State.
The Maharashtra government has decided to extend its loan waiver scheme to four lakh more farmers in the State.
At a function to be organised at village Rampura in Bhawanigarh tehsil of Sangrur district on Thursday, Punjab government will give out debt relief certificates to 73,748 farmers from six districts of the state.
Crop insurance has been beset by problems like high premium, delay in conducting crop-cutting experiments and delay in settling claims.
As Finance minister Arun Jaitley lends focus to addressing rural distress in the coming Budget. He may announce agricultural credit target of Rs 12 lakh crore for 2018-19, up 20% from the level for the current year.
Realising that the increased production of foodgrains and horticultural produce have, so far, not brought smile on the face of farmers, the Centre has now been looking for paradigm shift where its programmes and policies would now focus more on ‘income’ than on ‘production’ under seven-point strategy.
To provide collateral management services, Agri service solutions provider Sohan Lal Commodity Management (SLCM) having operations across India and Myanmar has tied up with HDFC BankBSE -0.62 % and IndusInd BankBSE 0.81 %.
R Ramakumar, Agro Economist, Tata Institute of Social Sciences (TISS), said that, from ₹96,000 crore in 2004 to ₹10 lakh crore now, the flow of agricultural credit may have increased, and over the past decade about 18,000 new rural branches have been set up, and yet there is an agrarian crisis because of definitional dilusion as well as diversion of funds from the needy small farmers.
The study says that compared to other sub-sectors of agriculture in the country, insurance in the fisheries sector is under-utilized.
Collector N. Venkatesh has informed, farmers, who are yet to get crop insurance for the past two fiscals even after paying the premium, will get it shortly as the State government has issued order for the early disbursal of the same.
The State Bank of India (SBI) will provide ₹1,600 crore as agriculture loan to farmers in Kerala. At a meeting between top SBI officials and Agriculture Minister V.S. Sunil Kumar, this was among the decisions taken.
The Punjab Cabinet today gave its approval to notify the crop loan waiver scheme for small and marginal farmers.
Chief Minister N Chandrababu Naidu has asserted that his government is implementing the crop loan redemption scheme to inculcate confidence among the distressed farmers and prevent them from taking the extreme step, even as Vice-President M Venkaiah Naidu made his observation clear that schemes like crop loan waiver will not give the desired results and will not help the farming community come out of their problems.
Under Pradhan Mantri Fasal Bima Yojana, Ministry of Agriculture & Farmers Welfare decides to extend the cut-off date for crop insurance during Rabi 2016-17 up to 10th January, 2017
New Delhi: The agriculture ministry has said, to help farmers insure their crops against natural calamities has provided coverage to 366.64 lakh farmers (26.50%), during the 2016 kharif season, the Pradhan Mantri Fasal Bima Yojana (PMFBY) launched.
The last dates for payment of premium for crops cultivated in the Rabi season and allotted districts to two insurance companies, decided by the State Government in consultation with various departments, bankers and insurance companies.
The cooperative societies department distributing loan waiver certificates to 50 farmers indebted to primary agriculture cooperative credit society (PACCS) in Somarasampettai, so a long standing demand of waiver of loans by small and marginal farmers in Trichy turned into a reality.
Collector of Nashik, Radhakrishnan B said, the loans through Micro Units Development and Refinance Agency Ltd will can now be given even for agri-support businesses as well and hence the benefits of the same be extended to the beneficiaries.
In the Gujarat state, banks are seeing good off-take in agricultural loans. At the end of June 2016, the agricultural advances extended to farmers in the state stood at Rs 69,100 crore and it is 11% more compared to the same period, last year.
In Chhattisgarh, during the ongoing kharif season, Crop loans to the tune of over Rs 2,500 crore have been disbursed so far. During Kharif season 2016-17, State Cooperative Bank, APEX Bank through its primary agriculture cooperative societies has set a target to disburse Rs 2,800 crore
The state government has waived the condition of submitting No Objection Certificate (NOC) from banks and societies while seeking fresh crop loan.
Establishment of small poultry (layer or broiler) units of 200 to 500 birds as subsidiary occupation by the farmers and agricultural labourers.
Dedicated Initiative for Sustainable and Holistic Agriculture (DISHA), set to offer farmers crop insurance, in a first of its kind initiative in Gujarat.
Punjab State Revenue Minister Bikram Singh Majithia said that Government would implement the “Interest-free crop loan” scheme for farmers.
Punjab Government has launched “Bhagat Puran Singh Sehat Bima Yojana” scheme for the welfare of farmers of the state.
Mr Rajani Ranjan Rashmi, Additional Secretary, Ministry of Commerce and Industry, Govt. of India said that Government of India is in the process
of launching an insurance scheme for plantation sector,
We can categorize agricultural loans in 5 categories, Farm Storage Facilities Loans or warehousing loan, Farm Operating Loans, Farm Ownership Loans, Fisheries Finance Program.
In Nalgonda district of Telangana, the bankers have disbursed 47 per cent of crop loans as on December 24, against the Rs.789 crore target set for rabi season.
The new crop insurance scheme to be launched by the Centre on April 1. This insurance scheme will benefit the farmers from Rajasthan most. New scheme will have premium as low as 1.5% to 2.5%. Currently the state has maximum farm land that is insured but farmers pay hefty amount as premiums.
The Modi government is finalising a new farm insurance policy with lower premiums and simpler norms for prompt
payments.
A Reserve Bank of India (RBI) panel has recommended doing away with interest subvention schemes. Ploughing back subsidy amount into a universal crop insurance scheme for marginal and small farmers.
Odisha government asked all banks to ensure 100% insurance of the crops to the farmers who losses their crops due to natural calamities. Deficient rainfall during kharif has severely affected agricultural production in 139 blocks of 21 districts.
Finance and Development Corporation (HSCFDC) has provided financial assistance of Rs 32.61 crore, including Rs 3.51 crore as subsidy, to 5,153 beneficiaries under various schemes upto November 2015.
