![]() ![]() Eligibility CriteriaĪll farmers availing Seasonal Agricultural Operations (SAO) loans from Financial Institutions (i.e. Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture sector by way of -Ī) Providing financial support to farmers suffering crop loss/damage arising out of unforeseen eventsī) Stabilizing the income of farmers to ensure their continuance in farmingĬ) Encouraging farmers to adopt innovative and modern agricultural practicesĭ) Ensuring flow of credit to the agriculture sector which will contribute to food security, crop diversification and enhancing growth and competitiveness of agriculture sector besides protecting farmers from production risks. Through increased farmer awareness and low farmer premium rates the scheme aims at increasing the crop insurance penetration in India. and aims at adoption of technology for the purpose of yield estimation. The scheme has extended coverage under localized risks, post-harvest losses etc. The scheme has been launched with an impetus on crop sector. ![]() The PMFBY was launched in 2016 and replaces all the prevailing yield insurance schemes in India. ![]() WHAT IS THE PRADHAN MANTRI FASAL BIMA YOJANA (PMFBY) ![]()
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