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Pradhan Mantri Fasal Bima Yojana (PMFBY)
Central scheme
Covers losses due to: prevented sowing, standing crop losses from non-preventable risks (drought, flood, cyclone, hailstorm, pest/disease), and post-harvest losses. Premium is only 2% for Kharif crops, 1.5% for Rabi crops, and 5% for annual commercial/horticultural crops — the rest is borne by central and state governments. Claims are settled directly to bank account via DBT.
Eligibility Criteria
- All farmers growing notified crops in notified areas
- Loanee farmers: compulsorily covered under the scheme
- Non-loanee farmers: voluntary enrolment
- Both owner-cultivators and tenant/sharecropper farmers are eligible
Required Documents
- Aadhaar Card
- Land records (Khasra / Khatauni)
- Bank account passbook
- Sowing certificate from local revenue officer
- Loan account details (for loanee farmers)