Pradhan Mantri Fasal Bima Yojana (PMFBY)

Pradhan Mantri Fasal Bima Yojana (PMFBY)

📌 Scheme Overview

• Launched by Government of India in 2016

• Implemented by Ministry of Agriculture & Farmers Welfare

• Objective: To provide comprehensive crop insurance coverage against natural calamities, pests, diseases and post-harvest losses

• Applicable for Loanee and Non-Loanee Farmers

• Enrollment is voluntary for all farmers from Kharif 2020 onwards

🌐 Official Portal

PMFBY Official Website

✔ Financial support to farmers suffering crop loss
✔ Stabilize farmers’ income
✔ Encourage modern agricultural practices
✔ Ensure flow of agricultural credit
✔ Protect farmers from production risks

✅ Food Crops

• Cereals

• Millets

• Pulses

✅ Oilseeds

✅ Annual Commercial & Horticultural Crops

(Perennial horticulture crops may be covered where yield estimation methodology exists.)

➡ Remaining premium is shared by Central & State Governments.

1️⃣ Prevented Sowing / Planting Risk

Coverage when farmers cannot sow due to:

• Deficit rainfall

• Floods

• Adverse seasonal conditions

Eligible compensation may be up to 25% of Sum Insured in notified areas.

2️⃣ Standing Crop Loss (Sowing to Harvest)

Coverage against:

• Drought

• Dry spells

• Floods

• Inundation

• Cyclone

• Storm

• Hailstorm

• Landslide

• Natural fire

• Lightning

• Pest & disease attack

3️⃣ Mid-Season Adversity

If expected yield likely falls below 50% due to:

• Severe drought

• Flood

• Pest attack

• Adverse weather

Immediate relief may be provided to farmers.

4️⃣ Post-Harvest Losses

Coverage available up to 14 days after harvesting for crops kept in field for drying against:

• Cyclone

• Cyclonic rains

• Unseasonal rains

• Hailstorm

Assessment done on individual farm basis.

5️⃣ Localized Calamities

Coverage for isolated farm losses due to:

• Hailstorm

• Landslide

• Inundation

• Cloudburst

• Natural fire due to lightning

Farmer must intimate loss within 72 hours.

• War & nuclear risks

• Malicious damage

• Preventable losses

• Theft

• Negligence

• Damage by domestic animals

(Wild animal attack can be covered by States as add-on cover.)

📌 Role of Banks

• Enroll eligible farmers

• Verify land/crop details

• Deduct & remit premium on time

• Upload accurate farmer data

• Assist claim settlement

📌 Sum Insured

Usually based on:

• Scale of Finance (SOF), OR

• Notional Average Yield × MSP/Farm Gate Price

📌 Cut-off Dates

Different for:

• Kharif Season

• Rabi Season

(State Governments notify district-wise dates.)

📌 Claim Settlement Issues

Major delays generally occur due to:

• Delay in subsidy release by States

• Incorrect proposal data by banks

• Yield data disputes

✅ Satellite imagery
✅ Drones
✅ Mobile Apps
✅ Smart Crop Cutting Experiments (CCEs)
✅ Remote sensing technology

Used for faster & transparent claim settlement.

• Toll Free Helpline: 14447

• Farmer can:

  • Check policy status

  • Calculate premium

  • Report crop loss

  • File grievances online

✔ Low premium burden on farmers
✔ Comprehensive crop risk coverage
✔ Technology-driven claim settlement
✔ Important scheme for agricultural credit protection
✔ Useful for Bankers, Farmers & Competitive Exams