PM Fasal Bima Yojana

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From the Kharif 2016 season onwards, the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme was established in India by the Ministry of Agriculture and Farmers Welfare, New Delhi. From Rabi 2016 onwards, National Insurance Company has participated in PMFBY, encompassing 8 states and 2 union territories during the last 5 seasons, namely Rabi 2016-17, Kharif & Rabi 2017, and Kharif & Rabi 2018, covering 70,27,637 farmers. Farmers’ portion of the premium is Rs. 453 crores, with a subsidy of Rs. 1909 crores from the state and central governments, bringing the total premium to Rs. 2362 crores for the five seasons.

While claims for Kharif 18 and Rabi 18 are still being processed, we have completed the first three seasons with a gross premium amount of Rs.1804 crores received from 35,22,616 farmers and claims of Rs.1703 crores paid, benefiting 17,66,455 farmers, or over half of the farmers insured.

The Ministry of Agriculture and Farmers Welfare, New Delhi, has issued revised operational guidelines that are obligatory for all stakeholders and provide comprehensive information on the Scheme. The same can be seen at

Under the said operating guidelines, there are two schemes.

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is described in detail below.

RWBCIS (Revised Weather-Based Crop Insurance Scheme) – Details can be found on the pm by the website.

The Schemes’ Purpose

The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a scheme that attempts to help farmers produce more sustainably.

  1. Providing financial assistance to farmers who have suffered crop loss or damage due to unanticipated circumstances.
  1. Farmers’ incomes must be stabilized for them to continue farming. Farmers must be encouraged to use creative and advanced agricultural practices.
  1. Ensure a steady flow of financing to the agriculture sector, which will help to improve food security, crop diversity, and the agriculture industry’s growth and competitiveness while also safeguarding farmers from production risks.

Who is eligible for coverage?

All farmers who have been approved for Seasonal Agricultural Operations (SAO) loans (Crop Loans) from Financial Institutions (FIs), i.e. loanee farmers, would be covered compulsorily for the specified crop(s) season.

Non-loanee farmers can opt-out of the scheme.

The insurance coverage will be strictly equal to the sum insured per hectare, as indicated in the government notification or/and on the National Crop Insurance Portal, multiplied by the seeded area for the notified crop.

How may farmers be enrolled in the Scheme?

  • Both loanee and non-loanee farmers must register with the Ministry of Agriculture and Farmers Welfare in New Delhi’s National Crop Insurance Portal (NCIP). Banks that offer farmers Seasonal Crop Loans are responsible for uploading the data to the NCIP.
  • Non-loanee farmers, Intermediaries, Common Service Centers (CSCs), farmers on their own, and other Agencies are required to upload data in the NCIP, as well as four documents:…..
  • Premiums must be paid via NEFT only; no DDs or checks will be accepted. Similarly, offline enrollment applications are not accepted, as each application must be completed online.

Crop Coverage is a term used to describe how much of a crop is covered

  • Food crops (cereals, millets, and pulses), and oilseeds are commercial and horticultural crops that are grown every year.
  • In addition to perennial crops, coverage pilots can be conducted for perennial horticulture crops for which a standard yield estimating technique is provided.

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