PMFBY: PM Fasal Bima Yojana Online Registration

One of our most fundamental needs is food. But did you realise that agriculture is the main source of income for millions of Indians? The agricultural sector is extremely volatile, as numerous unknown factors such as weather, pests, crop diseases, and other occurrences are likely to have an impact on productivity. The Government of India introduced the Pradhan Mantri Fasal Bima Yojana (PMFBY) to protect hardworking farmers from unforeseen disasters and crop loss.

PMFBY Official Website

What is the Pradhan Mantri Fasal Bima Yojana (PMFBY)? PMFBY Scheme Details

The Pradhan Mantri Fasal Bima Yojana (PMFBY) was introduced by the Indian government in 2016. Farmers can be covered under the scheme if they suffer financial losses due to unforeseeable incidents. Crop loss owing to local hazards, post-harvest financial loss, loss due to natural catastrophes, unseasonal rains, pests, crop diseases, and more are all covered by the policy.

The concept is based on the phrase “One Nation, One Crop, One Premium.” Its primary goal is to provide reasonable crop insurance to our country’s farmers.

What are the objectives of the Pradhan Mantri Fasal Bima Yojana? PMFBY Scheme Details

The PMFBY policy promotes agricultural output that is both sustainable and profitable. It aids in the reduction of financial losses incurred by farmers as a result of crop failure, hence stabilising their earnings. The concept behind this programme is simple: when our countries’ farmers have a steady income to support their families and produce, they can invest in better farming equipment that will offer greater results shortly.

A few of the PMFBY scheme’s goals are given below.

  • Financial protection for farmers in the event of product loss or damage.
  • Farmers need a steady income to support their families and farming operations.
  • Encourage farmers to use new and innovative farming techniques.
  • Enable finance to flow freely in the agriculture sector.
  • Assist farmers in avoiding production risks.
  • Provide low-cost crop insurance.
  • The plan is exempt from the Goods and Service Tax.

Features & Benefits: Pradhan Mantri Fasal Bima Yojana

The PMFBY’s key characteristics and benefits are as follows:

  • Premiums are set at a consistent level.

All farmers pay the same premium cost for PMFBY. In the post, we go over the premium rates in greater detail.

  • High Coverage at a Reasonably Low Premium

As can be seen from the table above, the farmer’s part of the premium is quite small. The remainder is covered by the government. Farmers will be able to obtain comprehensive coverage at a lower premium price as a result of this.

  • Utilization of Technology

The latest technology is employed to collect and upload details on product loss/damage, resulting in faster claim payouts.

  • A single management group

A single insurance company manages beneficiary enrolment, awareness of the programme, and claim processing.

  • Payments for Claims Made on Account

Farmers can get on-account claim payments if their crop suffers local losses under the scheme.

  • Loss Estimation

Crop loss is assessed on an individual plot basis in the event of unfavourable weather conditions and unseasonal precipitation.

Pradhan Mantri Fasal Bima Yojana Eligibility Criteria

The PMFBY offers crop insurance to all farmers voluntarily for products recognised by the country’s state governments. The following are the scheme’s eligibility requirements:

  • The scheme is open to farmers (sharecroppers and tenant farmers) growing recognised crops in the notified areas.
  • Farmers that are eligible must have an insurable stake in the recognised produce.
  • Non-loanee farmers must present the state’s land records, such as the Record of Right (ROR), land possession certificate (LPC), and so on. They can also offer support contracts, details of agreements, or other documentation issued by the state government.

Farmers’ premium rate to the insurance company

The table below summarises the premiums that farmers must pay to participate in the PM Fasal Bima scheme.

  • Kharif Fasal: 2% of the insured amount, or the actuarial rate (whichever is less)
  • Rabi: The actuarial rate is 1.5 per cent of the sum covered (whichever is less)
  • Rabi & Kharif Fasal: 5% of the insured amount, or the actuarial rate (whichever is less)

Pradhan Mantri Fasal Bima Yojana Enrolment Source

The PM Fasal Bima enrolment source differs depending on whether you are a loanee or a non-loanee farmer.

  • Banks are the main source for loanee farmers.
  • Enrolment sources for non-loanee farmers include banks, communal service centres, the National Agriculture Portal, the Agriculture Department Office, or any other authorised scheme mediator.

Pradhan Mantri Fasal Bima Yojana coverage

The coverage of the PMFBY scheme is listed below.

Sum Insured of PMFBY

The scheme’s insurance coverage equals the sum insured determined by the Indian government.

Compulsory Insurance is a type of insurance that is required by law.

  • Farmers who have been approved by financial institutions for Seasonal Agricultural Operations (SAO) loans for notified crops.
  • Any modifications to the crop plan must be communicated to the bank at least two weeks before the deadline.
  • Insurance applications are accepted until the State Level Coordination Committee on Crop Insurance sets a cut-off date (SLCCCI).

Coverage that is provided voluntarily

For loanee farmers, the programme is optional.

Risk is taken care of

Aside from crop losses, the system also includes:

  • Risk of prevented sowing, planting, and germination: The insured area is prevented from sowing, planting, and germination due to unfavourable meteorological conditions or unseasonal rainfall.
  • Loss of standing crops (from sowing to harvesting): The programme covers unforeseeable events that result in yield loss.
  • Post-harvest loss: If there is any loss to the produce after it has been harvested for up to two weeks, the policy will cover it.
  • Losses due to localised disasters: Losses/damage to the product caused by localised risks such as hailstorms, landslides, cloud bursts, and animal attacks are covered.

Any damage or loss to the declared crops caused by the above-mentioned risks must be reported to the insurer within 72 hours of occurrence.

Pradhan Mantri Fasal Bima Yojana Exclusions

Because of the following reasons, the scheme does not cover crop loss or damage.

  • Harmful actions
  • Risks that can be avoided
  • Losses as a result of war or nuclear threats

How do I register for the PMFBY Portal by myself?

Farmers can now self-register for the PMFBY scheme, thanks to a government initiative. For a successful PMSBY online registration, follow the procedures below.

  • Go to to access the PMFBY portal.
  • Select the ‘Register’ option.
  • Fill in your personal information as well as any other information needed.
  • Verify your Aadhaar Card and Contact Number (automatically confirmed) (via OTP verification).
  • The superior hierarchy will approve or reject the PMFBY application after it is submitted.
  • The decision will be communicated to the applicant by SMS or email.

Pradhan Mantri Fasal Bima Yojana Claim Process

The claim procedure is based on the risks that have been encountered. The table below provides an overview of the situation.

The maximum claim compensation that can be paid is up to 25%.

If the yield is lost or damaged,

  • At each insured area, the concerned state government conducts Crop Cutting Experiments (CCEs). Within the stated time frame, the yield data is shared with the insurer. The claim compensation is determined using the information provided.
  • The Threshold Yield (TY) is the rate at which compensation is provided up to a certain point.
  • The TY of notified crops is calculated by multiplying the historical average yield for the best five of the last seven years by the indemnity level.
  • Produce/Yield Loss = (TY – Actual Yield) / TY X Insured Sum

If sowing, planting, and germination are not possible,

  • The affected insured area suffering from the risk of prevented sowing or planting was notified by the appropriate state government.
  • As proxy indicators, weather data, satellite photos, crop conditions, and sowing areas are used.
  • Under this risk, claims are paid at a rate of 25% of the sum insured, after which the insurance coverage is discontinued.

If standing crops are lost (from sowing to harvesting)

  • In this case, the claim is for any loss or damage to standing crops as a result of poor weather circumstances, such as dry periods, drought damage, and so on.
  • In addition, the claim might be increased if the predicted yield for the season is less than 50% of the typical yield.

In the event of a post-harvest loss,

The claim should be reported within 72 hours, either to the insurer or to the government.

In the event of a loss due to a localised calamity

  • The claim must be reported within 72 hours, either to the insurer or to the government.
  • Weather reports and other related evidence are utilised as proxy indicators.

In the event of any of the above-mentioned losses, claim notification shall be given within the prescribed period in one of the following ways:

  • Call 180030024088, which is a PMFBY Toll-Free Number.
  • Contact the Agriculture Office of the District. You will be contacted by a representative who will walk you through the process.
  • Contact the relevant banking institution.

The following is the time frame for loss assessment and report submission:

  • Within 48 hours of receiving the notification, a loss assessor is appointed.
  • Within the next ten days, a loss assessment will be conducted.
  • From the loss assessment report, claim settlement/payment to farmers will be completed in the next 15 days (assuming the premium payment is clear).

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