Claims paid under Pradhan Mantri Fasal Bima Yojna-PMFBY
Pradhan Mantri Fasal Bima Yojna-PMFBY:
- Administered by the Ministry of Agriculture and Farmers Welfare.
- It aims to provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crops as a result of natural calamities, pests & diseases.
- There is no upper limit on Government subsidies. Even if the balance premium is 90%, it will be borne by the Government.
- It is optional to all farmers.