All You Need to Know About Pradhan Mantri Fasal Bima Yojana (PMFBY)

By Mukesh on Apr 15, 2021

In 2016, the Prime Minister of India has introduced another scheme which is known as the Pradhan Mantri Fasal Bima Yojana. Through the implementation of this scheme, the scheme provides coverage against financial losses suffered by farmers due to various unfortunate events. Apart from this, this scheme covers some crop failures due to localized risks, post-harvest losses, pests, natural calamities, crop diseases, and so on. Today under this page, we'll share the important things or aspects of the Pradhan Mantri Fasal Bima Yojana.

Pradhan Mantri Fasal Bima Yojana

Pradhan Mantri Fasal Bima Yojana, formally known as PMFBY, is the Indian scheme that is responsible for the provide coverage against financial losses suffered by farmers due to various unfortunate events. This scheme was introduced in 2016. It is also full of control by the government of India.

Launched Date

The Prime Minister of India has launched Pradhan Mantri Fasal Bima Yojana on January 18, 2016. According to information provided by many sources, the Pradhan Mantri Fasal Bima Yojana is an insurance service scheme for all farmers including sharecroppers and tenant farmers of their yields.

Details of Pradhan Mantri Fasal Bima Scheme

Name of Scheme

Pradhan Mantri Fasal Bima Scheme or Yojana, also called as PMFBY

Launched/ Introduced by

Shree Narendra Modi

Objective

Providing coverage against financial losses

Beneficiaries

All Farmers of India

Benefits of Pradhan Mantri Fasal Bima Yojana

There are many benefits of the Pradhan Mantri Fasal Bima Scheme which will be introduced by the Prime Minister of India that is Prime Minister of India. According to the information provided by many sources, one of the main benefits of this scheme is the availability of insurance services for farmers who suffer many financial losses due to various unfortunate events.

Eligibility Criteria for Pradhan Mantri Fasal Bima Scheme

Although the detailed notification about Pradhan Mantri Fasal Bima Scheme is not yet opened for the common farmers of India, we all are aware of the common eligibility criteria that need to be taken care of while applying for this scheme. The applicants who are applying for the scheme must be a farmer of India.

Objectives of the Scheme

We found many objectives of this scheme that are the best for the farmers belonging to India.

  • PMFBY scheme aims at providing financial support to the farmers belonging to India who is suffering from crop losses or damages arising out of unforeseen events.
  • PMFBY scheme aims at providing financial support to ensure the flow of credit to the agriculture sector.
  • Also, to stabilise the income of all farmers including sharecroppers and tenant farmers to ensure their continuance in farming.

Required Documents for PMFBY scheme

We all are aware of the required documents that need to be taken care of while applying for this scheme. The applicants who are applying for PMFBY are required to submit the below-given documents along with the Application form of PMFBY.

  • Identity proof of the farmer like an Aadhaar card, voter ID card, PAN card, and driving license.
  • Address proof of the farmer such as driving license, voter ID card, passport, or Aadhaar card.
  • And, the scanned image of the field Khasra number/ account number is required.

How to Registration for this scheme?

Applicants for PMFBY can be taken either offline or online.

Offline Registration Process:

Applicants need to go to the nearest bank branch and fill the PMFBY Application form and submit this duly filled application form along with the required documents at the nearby E-Mitra center.

Online Registration Process:

Step 1st: Open the official portal https://pmfby.gov.in of the Pradhan Mantri Fasal Bima Yojana.

Step 2nd: In that regard, the home page will appear on the screen.

Step 3rd: Have to click on the "Registration" link.

Step 4th: Enter the required details asked here.

Step 5th: Press on the submission key and after that, the account will become official.

Step 6th: Then, log in to your account.

Step 7th: Carefully fill the application form for the crop insurance scheme.

Step 8th: Hit on the final submission key.

Step 9th: Take a print of this form for future use.

Note: Applicants are advised to check the official site of the https://pmfby.gov.in of the PMFBY to get detailed information.