Bank Or Agricultural Insurance Companies For Pradhan Mantri Fasal Bima Yojana
As the entire sector is hugely depending on the weather, losing crops during monsoon or during summer or during flood is quite a common problem. Whether it is a small farmer or rich, losing crops before harvesting (or sometimes after harvesting) brings large amount of loss. Looking at this risk, government has taken multiple initiatives to help farmers. Central government of India has launched a number of schemes for the farmers such as Pradhan Mantri Fasal Bima Yojana and so on.
These schemes are launched to insure the farmers and their crops before any unpleasant calamity takes place. Central government with the help of the states and Agricultural Insurance Companies in India implemented these schemes. There are a number of insurance agencies that provide agricultural insurance in India.
“Here you can read Pradhan Mantri Fasal Bima Yojana Online Registration Form“
Agricultural Insurance Companies For Pradhan Mantri Fasal Bima Yojana
AIC India Limited
AIC India is the oldest and the only government owned Agricultural Insurance Company. Agricultural Insurance Company of India Limited abbreviated as AIC India is one of the biggest insurance corporations in India that provide all sorts of agricultural insurance. AIC India covers the loss a farmer faces due to natural calamities or any kind of crop disease. Against a minimum premium, the company provides a lump sum amount as insurance coverage.
- Pradhan Mantri Fasal Bima Yojana, the recently launched crop insurance policy by central government can also be available through AIC India. Along with this mentioned scheme there are many other products AIC offers such as Rainfall Insurance, this is a type of insurance where coverage is being provided if the crops are destroyed due to rainfall.
- Other insurance products like potato crop insurance, bio-fuel plants insurance, weather insurance for Rabi crops, unified package scheme, rubber plant insurance, cardamom plant insurance and many more other products are available.
To know more about the company and the products one can click on their official website: http://www.aicofindia.com/AICEng/Pages/default.aspx.
“Here you can read Document Details Under Pradhan Mantri Fasal Bima Yojana.”
NABARD is well known to every Indian. National Bank of Agricultural Research and Development aka NABARD is the rural bank that provides loans, accounts and other types of banking facilities to the rural people. NABARD, until now was not a part of agricultural insurance service sectors in India. But recently, according to the chairman of the institute, the organisation will soon launch Agricultural Insurance Service.
- Under this service NABARD will be providing insurance coverage to the farmers who have lost their crops due to any natural calamities, crop diseases or pesticides and such. Along with co-financing and crop insurance the organisation will also provide consultancy to the farmers on several agriculture related issues.
- Not only crop insurance but also NABARD is gearing up for latest technological tools and a lot of other services to assist the farmers. There will be latest technology to verify and inspect the loss of the farmers.
The details of crop insurance by NABARD can be found in here. Click the link below and get the full information about the crop insurance.
“Here you can read e-Mandi National Agriculture Market portal.”
HDFC is not an agricultural bank. It stands for Housing Development Finance Corporation. The bank is specialised in providing loans and financing for housing projects. Though nowadays it is not restricted to only loans and housing development finance but it serves every kind of banking service to the common people.
- A new unit of the organisation HDFC Ergo has started loan and financing facilities that include Agricultural insurance as well. HDFC Ergo offers other insurance like health and such.
- To avail the Agricultural Insurance one has to know about their plans and premiums. Premiums depend on the plan a farmer will avail. There are a number of plans that the organisation offers as crop insurance.
- Not only the farmers but under HDFC Ergo other banks, financial institutes and others can also avail the insurance policies. These policies will be valid if there is loss of crops due to any natural calamity.
The details of the crop insurance policies offered by HDFC Ergo are available widely in their official website. Click on the link below to know more about the plans https://www.hdfcergo.com/rural-insurance/crop-insurance.html.
“Here you can read Aadhar Card Mandatory In Crop Insurance for Farmers.”
Bajaj Finance is a common name for every household nowadays who buys expensive lifestyle products in instalments. Bajaj Finance Corporation is one of the biggest financing agencies in India that provide every kind of loans from buying mobile phone to flats to cars and such.
- The company recently launched a new scheme for the agricultural sector as well. According to a spokesperson from the company from now onwards Bajaj Finance will be financing agricultural projects as well.
- Though there is nothing much about insurance policies under the same organisation, but customers are hopeful that the loan they are providing can be a big help for the farmers.
- Bajaj Finance is promising Rs. 15, 000/- to Rs. 5, 00, 000/- as agricultural loans to their rural customers, preferably farmers to finance their agricultural activities. Also the company will be assisting them in legal matters and will help them to manage losses after harvesting.
To get more details on the same you can click on the link https://www.bajajfinserv.in/. This is the official website where every detail can be found.
“Here you can read Kisan Call Centre Toll Free No ”
ICICI Lombard is one common name in loan and financing market in India. The organisation is now providing agricultural insurance for the farmers. ICICI Lombard is one of the financial partners in the scheme Pradhan Mantri Fasal Bima Yojana by central government.
According to the scheme there will be only 1.5% and 2% premium for the crops (Kharif and Rabi) that the farmer has to pay. If the crops are being destroyed due to any natural calamities like drought, flood, rainfall or any other unpleasant calamity then the farmer can claim the coverage.
Under this scheme new and latest technological tools are used to inspect the farms and losses of the farmers. These tools help the authority to process the coverage as soon as possible.
ICICI Lombard is a known name in agricultural loan market as most of the agricultural loan services are provided by the organisation. For more details of the crop insurance in ICICI Lombard you can click here https://www.icicilombard.com/rural-insurance