- Bharti AXA General Insurance had received Rs 800 crore worth crop insurance mandate from the governments of Maharashtra and Karnataka to insure their farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY)
About the campaign
The awareness drive describes that buying crop insurance as a very important aspect of farming and also signifies that the protection of crops will eventually secure the aspirations of farmers.
Rs 800 crore worth crop insurance mandate
i.Bharti AXA General Insurance has secured authorization for a period of 3 years from both the state governments to implement the PMFBY in six districts of Maharashtra and three districts of Karnataka.
ii.The PMFBY offers insurance cover to farmers against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest, due to poor yield.
iii.PMFBY is open for both lenders and non lenders. The scheme covers food crops (cereals, millets and pulses), oilseeds as well as horticultural crops.
iv.The farmers pay 2% of sum insured as the premium for Kharif crops and 1.5% of the sum insured for Rabi crops.
Recent Related News:
i.NITI Aayog Launched Behaviour Change Campaign, ‘Navigating the New Normal’,and its Website.
ii.Power Minister RK Singh initiated ‘#iCommit’ campaign on the occasion of World Environment Day (WED) on June 5, 2020.
About Bharti AXA General Insurance
Headquarters– Mumbai, Maharashtra
Chief Executive Officer & Managing Director– Sanjeev Srinivasan
