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PMFBY Revised Operational Guidelines
The objective of the PMFBY Scheme
Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture
sector by way of
- Providing financial support to farmers suffering crop loss/damage arising out of unforeseen events
- Stabilizing the income of farmers to ensure their continuance in farming
- Encouraging farmers to adopt innovative and modern agricultural practices
- Ensuring flow of credit to the agriculture sector which will contribute to food security, crop
diversification and enhancing growth and competitiveness of the agriculture sector besides protecting
farmers from production risks
Coverage of Farmers
All farmers including sharecroppers and tenant farmers growing the notified crops in the notified areas are eligible for coverage. However, farmers should have insurable interest for the notified/insured crops. The non-loanee farmers are required to submit necessary documentary evidence of land records prevailing in the State (Records of Right (RoR), Land possession Certificate (LPC), etc.) and/ or applicable contract/ agreement details/ other documents notified/ permitted by concerned State Govt. in case of sharecroppers/tenant farmers and the same should be defined by the respective States in the notification itself.
- All farmers who have been sanctioned Seasonal Agricultural Operations (SAO) loans from Financial
Institutions (FIs) (i.e. loanee farmers) for the notified crop(s) season would be covered compulsorily.
This provision shall override any decision taken by FIs including PACS exempting farmers from
compulsory coverage of loanee farmers.
- However non-standard KCC /crop loans as defined and as per prevailing practices of the concerned
Banks/Govt. regulator shall not be covered compulsorily. However, bank branches may facilitate such
farmers for enrolment as non-loanee farmers.
- Merely, sanctioning of crop loan against other collateral securities including fixed deposits, gold/jewel
loans, mortgage loans, etc. without having an insurable interest of the farmer on the insurable land and
notified crops shall not be covered under the Scheme.
Coverage of Crops
- Food crops (Cereals, Millets, and Pulses),
- Annual Commercial / Annual Horticultural crops.
- In addition to perennial crops, pilots for coverage can be taken for those perennial horticultural crops
for which standard methodology for yield estimation is available.
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