by AIP Online Bureau | Mar 12, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Risk Management
It also recommended free compulsory crop insurance to small farmers with land holdings of up to 2 hectares New Delhi: A parliamentary committee has suggested that the government’s crop insurance scheme PMFBY should cover damages caused to crops by stray animals,...
by AIP Online Bureau | Mar 10, 2025 | Eco/Invest/Demography, Indian News, Non-Life, Technology
As many as 4,30,443 crop insurance applications under the PMFBY were rejected during the Kharif 2024 season. In comparison, 2,85,468 applications were rejected during the Kharif 2023 season, the minister stated.. Since the scheme’s inception in Kharif 2016,...
by AIP Online Bureau | Jul 22, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Reinsurance, Technology
“Agriculture premiums will likely rise from 2024 onwards, with an average real premium growth of 2.5 per cent over the medium term, supported by improvements in insurance infrastructure such as mobile applications and remote sensing for crop loss...
by AIP Online Bureau | Mar 6, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Policy, Reinsurance, Risk Management
During this period, a total amount of nearly Rs 31,139 crore was paid by farmers as their share of premium against which claims of over Rs 1,55,977 crore have been paid to them. Thus, for every Rs100 of premium paid by farmers, they have received about Rs 500 as...
by AIP Online Bureau | Aug 8, 2023 | Indian News, Non-Life, Reinsurance
Narendra Singh Tomar, Union Agriculture Minister Out of the pendency of claims, the maximum was in Rajasthan (Rs 1,387.34 crore), followed by Maharashtra (Rs 336.22 crore), Gujarat (Rs 258.87 crore), Karnataka (Rs 132.25 crore) and Jharkhand (Rs 128.24 crore), the...
