PMFBY Beneficiary List: Launched in 2016, the Pradhan Mantri Fasal Bima Yojana (PMFBY) is an Indian government-backed crop insurance scheme. Its intended purpose is to provide financial security for farmers who may suffer crop losses or damage caused by unpredictable events such as natural disasters and pest-borne diseases. This post offers information about how to check the PMFBY beneficiary list and more!
What is PMFBY?
PMFBY beneficiary list is a scheme that allows farmers to hedge against lower-than-expected yields following natural calamities or situations out of their control. It is carried out by sharing the responsibility between the central government, state governments, and private insurance companies.
The scheme is available with token registration fees only for protection against natural disasters for crops to be planted at any time during a given period (depending on the type of crops you grow, location, remaining loan amounts, etc.).
Loanee Farmers are required to take out PMFBY and are those farmers who have taken seasonal agricultural loans (crop loans) from financial institutions. They invariably take part in PMFBY. Non-Loanee Farmers are an optional part of PMFBY.
If you are a farmer with no crop loans outstanding, it’s up to you whether you want in on this scheme. It makes no difference.
This program of support covers a whole range of various crops: food crops, horticultural or fruit-garden vegetables and herbs for medicine or perfume, it’s all in there. The list of specific crops differs from state to state and with the seasons.
Benefits of PMFBY
The following are some of the benefits of subscribing to PMFBY:
- Financial Security
PMFBY compensates farmers economically for the loss of their crops resulting from any insured perils. This will help the beneficiaries to recover and continue to earn their livelihood.
- Risk Reduction
The crop insurance scheme helps to transfer the risk of crop failure faced by the farmers to the governmental sector. This will enable the cultivators to take risks and try novel methods of farming late experiments.
- Stability of Income
Even in years of bad agriculture, PMFBY will help the farmers maintain some degree of income stability. This will allow the customary farmers to keep their hopes up and keep their businesses running.
- Availability of Loans
When banks and other financial companies see that cultivators are insured against crop failure, they are likely to grant the farmers loans.
- Encourages Innovation
Apart from transferring risks, the provision of PMFBY encourages the farmers to try new and modern methods of agriculture.
Who is Eligible for PMFBY?
Although the eligibility criteria for PMFBY may slightly differ depending on the season and the implementing insurance company, it can be summed up as follows:
- Farmer
The applicant should be a farmer cultivating a notified crop in the notified area, and during the notified season.
- Land Ownership/Sharecropping
Farmers should own or cultivate the land being insured.
- Loan Status
Loanee farmers are covered on a compulsory basis, as financial institutions that extend seasonal agricultural operation loans to farmers are required to insist farmers take out crop insurance. Non-loanee farmers or farmers who have not been covered by the loanee scheme can also voluntarily avail themselves of the scheme “on their own.”
It should be noted that the eligibility norms and requirements may vary slightly based on the state and implementing insurance company. Farmers may contact their state Agricultural Department or their nearest insurance company to get the updated requirements.
How to Check Your Name in the PMFBY Beneficiary List?
Follow these steps:
- Go to https://www.pmfby.gov.in/.
- Head over to the “Application Status” section.
- Fill in your “Receipt Number” and complete the Captcha verification.
- Click the “Check Status” button.
Conclusion
As one of the most valuable agricultural safety schemes, the PMFBY has enabled many Indian farmers to deal with various challenges that can harm their agricultural activity and food security in general. Many of them were unable to check whether they were beneficiaries of the PMFBY, which might have compromised their ability to understand the needs they could address.
It is important to make necessary preparations for the process and remember to keep details such as one’s name, father’s name, village, and Aadhaar number at hand. Using the PMFBY and participating in it actively will allow individuals to address unexpected agricultural needs more confidently, ensuring a more secure and prosperous agricultural sector in India in the longer term.
If you’re looking for more information on pmsby renewal, then check out Bajaj Allianz’s PMFBY page!
FAQs
1. What is PMFBY?
A. PMFBY is a government crop insurance scheme safeguarding farmers financially against crop loss from natural disasters or pests.
2. Who can join PMFBY?
A. Loanee farmers are automatically enrolled, while non-loanee farmers can opt-in. Local agricultural departments provide eligibility details.
3. How do I check my PMFBY status?
A. Visit https://www.pmfby.gov.in/ or use the PMFBY app. Alternatively, contact your bank or agricultural department.
4. What are the benefits?
A. PMFBY provides financial security, risk reduction, and stable income, and facilitates loan access for farmers.
5. Is there an enrollment deadline?
A. Enrollment deadlines vary by season and crop. Contact your agricultural department for specifics