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Pradhan Mantri Fasal Bima Yojana (PMFBY)

Ministry of Agriculture & Farmers Welfare

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Why it matters

Protect your crop from floods, drought, pests and disease. You pay just 1.5-2% of the insured amount as premium — the government covers the rest. If your crop fails, you get compensated quickly.

Launched

13 Jan 2016

Valid until

Ongoing

Benefit type

Insurance

Created by

Government of India

Farmers benefited

5.5 Cr

What you get

Up to full sum insured — premium as low as 1.5% for Rabi crops

Eligibility criteria

  • All farmers growing notified crops in notified areas
  • Compulsory for farmers with crop loans from financial institutions
  • Voluntary for non-loanee farmers
  • Must enroll before the cut-off date for each season

How to apply

  1. 1

    Loanee farmers: automatically enrolled through your bank or Kisan Credit Card

  2. 2

    Non-loanee farmers: visit nearest bank, CSC, or agriculture office

  3. 3

    Fill enrollment form with crop details, land records, and bank details

  4. 4

    Pay premium (2% for Kharif, 1.5% for Rabi, 5% for commercial)

  5. 5

    Report damage within 72 hours to insurer; loss assessed and compensation credited

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