PMFBY Opt-out Application Form PDF

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PMFBY Opt-out Application Form

Farmers with loan dues will need to give a simple declaration to their bank branch seven days before the final date for enrolment under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to opt-out of the scheme, the government has said. The cut-off date for enrolment is July 31 for the Kharif season and December 31 for rabi.

Banks have been directed to maintain a record of the declarations given by farmers so that no premium is deducted after someone has opted to move out of the scheme. The Centre has also urged banks to conduct an awareness drive among loanee farmers to persuade they remain with the scheme. The Union Cabinet took the decision to make the scheme optional for loanee farmers last month.

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