Kharif crop insurance, A golden opportunity for farmers, Apply before August 16

Under the Pradhan Mantri Fasal Bima Yojana 2024, operated by Agriculture Insurance Company of India Limited with the collaboration of the Government of India and the Government of Madhya Pradesh, farmers can insure their crops for the Kharif season. The main objective of this scheme is to protect farmers from losses caused by natural disasters.

Notified crops for Kharif 2024:

Several major crops have been notified for the Kharif season under the Pradhan Mantri Fasal Bima Yojana. These include Paddy (irrigated and unirrigated), Soybean, Maize, Pearl Millet, Pigeon Pea/Arhar, Sorghum, Kodo-Kutki, Groundnut, Sesame, Cotton, Moong, and Urd. By insuring these crops, farmers can safeguard their crop production.

Insurance Coverage and Registration Deadline:

The registration deadline for this scheme has been extended to August 16, 2024. This is a crucial opportunity for farmers to insure their Kharif crops as soon as possible and take advantage of this scheme.

Key Points for Financial Institutions and Farmers:

• Acceptance of Insurance Coverage: All farmers' insurance coverage will be approved only through the Government of India portal (https://pmfby.gov.in). Therefore, farmers should ensure that they register through this portal only.
• Premium Payment: The premium payment should be made only through the NCIP Portal's payment gateway, Pay-Gov. Payments made through any other means will not be accepted.
• Aadhaar Number Requirement: All farmers must have an Aadhaar number. Registration is not possible without an Aadhaar number, so farmers should ensure their Aadhaar number is updated.

Documents Required for Insurance:

• Aadhaar Card: An Aadhaar card is required for identification.
• Bank Passbook: A copy of the bank passbook is also mandatory for simplifying the payment process.
• Land-related Documents: Land-related documents, such as a copy of the Khatauni (land records), must also be submitted.

Premium Rate and Insured Amount: This scheme, the farmer is required to pay only 2% of the insured amount as a premium. This rate is determined by the government to ensure that farmers are not burdened financially and can easily benefit from this scheme.

Conclusion: The Pradhan Mantri Fasal Bima Yojana 2024 for the Kharif season is an important initiative that provides necessary protection to farmers against natural disasters. The registration deadline has been extended, allowing more farmers to benefit from the scheme. Therefore, farmers are encouraged to insure their crops as soon as possible and secure protection through this scheme.