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The Pradhan Mantri Fasal Bima Yojana completes 7 years of its implementation that insured over 36 crore farmers.

About the Scheme:

• This flagship scheme was launched on 18th of February 2016 by the Government of India.
• The PM Fasal Bima Yojana (PMFBY) aims to provide financial assistance to the farmers who suffer due to crop loss/damage as a result of natural calamities.
• It enabled the farmers to report crop losses within 72 hours of the occurrence of any event through a crop insurance app that facilitates electronic transfer of funds to the bank accounts of the eligible farmer.
• The National Crop Insurance Portal which is a part of the PMFBY is provided with the land records to offer technology driven facilities by easy enrollment process, remittance of farmer premium through the portal.
• It has been successful in extending financial support to the vulnerable farmers as 85% of the enrolled farmers belong to small and marginal categories.
• The scheme will be launching a doorstep distribution drive to deliver crop insurance policies to the farmers under the programme called ‘Meri Policy Mere Hath’ in all implementing states.