Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana: The PMFBY is a crop insurance scheme for farmers started by the government of India on 18 February 2016. It aims to support farmers by providing financial help in the case of crop loss or damage caused by natural disasters. This ensures that farmers do not face a major setback in case of droughts, floods, hailstorms, pests or diseases and can continue farming. The scheme covers all food crops, oil crops and annual commercial crops surveyed under this scheme.

PMFBY Full Form is Pradhan Mantri Fasal Bima Yojana. www.pmfby.gov.in registration can be done at the official portal. Candidates have to meet the basic eligibility criteria to claim the Yojana.

The insurance companies that provide this service are selected by the respective state government, and the claim amount is based on how much loss is incurred by the farmers as compared to the average yearly yield in that area. The formula for calculating the insurance claim to use is 

Claim Amount = (Threshold Yield – Actual Yield) / Threshold Yield × Sum Insured

• Threshold Yield: It represents the average crop yield in the last 7 years (5 years in some cases), multiplied by the level of insurance coverage (usually 70% to 90%). It is the expected yield in a normal year.

• Actual Yield: This is the crop yield of the current season based on experimental or weather data.

• Sum Insured: This is the value of the crop covered under the insurance.

www.pmfby.gov.in Registration

Pradhan Mantri Fasal Bima Yojana launch date is 18 February 2016. The application form can be submitted at the Yojana official portal @https://pmfby.gov.in/

PMFBY Application Process

1. Open the official portal of the PMFBY.

2. Find the Farmer corner at the top right corner and click it. A pop up window will open. Click “guest farmer” and an online registration will open.

3. Fill in the mandatory fields of the forms that follow.

4. When registration is complete, select “Farmer Corner.”

5. On the Login Page, fill mobile number, verify the captcha, and select “Request for OTP”. You will get an OTP on your mobile. Enter it in the form, select submit. The “Farmer Application Form” will open in front of you.

6. Fill out the application form and upload the necessary documents. After submitting the form, a confirmation message will be delivered to you.

7. A pop up window will open. Select “Pay later” and “Make a payment option as per your choice of the time of payment.

8. After the payment is successful, the receipt of the payment can be printed.

PMFBY Scheme Benefits

Low Premium, High Coverage

Farmers pay only a small part of the insurance premium:

• Kharif Crops:2% of the insured sum

• Rabi Crops:1.5% of the insured sum

• Annual Commercial & Horticulture Crops:5% of the insured sum

The rest is paid by the central and state governments. This makes PMFBY one of themost affordable crop insurance plansin the world.

Wide Crop Coverage

PMFBY covers:

• Food crops (wheat, rice, pulses, millets)

• Oilseeds (soybean, sunflower, mustard)

• Commercial crops (cotton, sugarcane)

• Horticultural crops (fruits and vegetables)

Coverage from Sowing to Harvest

Farmers get insurance support throughout the crop cycle:

• Pre-sowing:For prevented sowing due to lack of rainfall

• Standing crop:Protection from droughts, floods, pests, and diseases

• Post-harvest:Losses from cyclones, unseasonal rains, hailstorms

Special Risk Coverage

• Local natural disasters like hailstorms, landslides or cloudbursts

• Mid-season yield loss due to severe drought or flood

• Prevented sowing risk if weather stops crop planting

Timely and Direct Claim Settlement

Once the loss assessment is completed (usually within 30-45 days), the insurance amount is transferreddirectly to the farmer’s bank account, avoiding delays and middlemen.

PMFBY Eligibility Criteria

The farmers, sharecroppers, or tenants growing the crops included in the scheme in the areas that are a part of the scheme are eligible for it. The farmers must have a financial stake in the crops to be insured. The farmer must be a cultivator or sharecropper on the insured land. The farmer must have a land ownership certificate or a land tenure agreement. The farmer should apply for the insurance within the prescribed time, usually within 2 weeks of the start of the sowing season. The farmer must not have received compensation for the same crop loss from any other medium or source.

PMFBY Gov in Documents Required

• Passport–sized Photograph

• Passbook

• Identity Proof (Aadhaar Card/PAN Card/Voter ID/Bank Passbook with Photo, Kisan Photo Book/NREGA Job Card)

• Address Proof (Aadhaar Card/PAN Card/Voter ID/Electricity Bill/Bank Passbook with Photo)

• Statement depicting the crops sown/intended to be sown

PMFBY Claim Procedure

1. Report the crop loss to the nearest agriculture officer, CSC, or insurance agent within 72 hours.

2. Upload or submit:

   • Insurance policy details

   • Aadhaar card and bank account proof

   • Geo-tagged photos of damaged crops

3. Official loss assessment is conducted using field inspections and technology like drones and satellite mapping.

4. Claim amount is sanctioned and credited directly to your linked bank account.

Check the PMFBY claim status by visiting the official portal. Check Here

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