Udupi Sets July 31 Deadline for Paddy Insurance Registration Under PMFBY
Udupi district authorities have announced the registration schedule for the Pradhan Mantri Fasal Bima Yojana (PMFBY) covering the upcoming monsoon season. Farmers cultivating rain-fed paddy — the primary crop of the season — can register until July 31.
The insurance sum has been fixed at Rs 75,600 per hectare, with a premium rate of Rs 1,512 per hectare, which works out to 2 percent of the sum insured. Registrations are being accepted at all gram panchayat offices and local administrative bodies across the district.
Farmers who have not taken crop loans can register by approaching commercial banks, rural agricultural service cooperatives, public service centres, Gram One centres, or insurance companies. They must provide documents including the pahani patra, bank or account passbook, revenue receipt, and Aadhaar number.
The scheme offers multiple compensation provisions. If sowing fails to reach 75 percent in a notified unit due to rainfall deficiency or adverse weather, insured farmers will receive 25 percent of the sum insured as advance relief. For crop damage from excess rain, floods, prolonged moisture stress, or severe drought occurring between one month after sowing and 15 days before harvest, farmers get an advance payment of 25 percent of the assessed loss when expected yield falls below 50 percent of normal yield. Final compensation will be adjusted based on actual harvest yields.
Localised natural calamities such as hailstorms, landslides, waterlogging, cloudbursts, and fire from lightning are covered under individual assessment. If crop loss exceeds 25 percent in a notified unit, compensation will follow sample surveys. Post-harvest losses from cyclones or unseasonal rain within 14 days of harvest also qualify for individual relief. Farmers must report damage within 72 hours to the insurance company, financial institution, or agriculture department office.
IndusInd General Insurance Company will implement the PMFBY in the district this season. Loan-taking farmers who wish to opt out must submit a written declaration to their bank manager at least one week before the deadline. For further details, contact the Joint Director of Agriculture office, local commercial banks, or service cooperatives.
Image for illustration purposes only
📰 Source: Kundapra