States to implement PMFBY scheme soon
The Centre’s flagship crop insurance scheme, Pradhan Mantri Fasal Bima Yojana, is likely to be rolled out in several parts of the country as the bidding process for selecting insurance companies is over in at least ten States and a Union Territory and many others are in the midst of it.
All top insurance companies such as Tata AIG, Iffco Tokio, Reliance, Bajaj Allianz and ICICI Lombard have expressed interest in the new scheme and participated in the bidding process.”We just held a review meeting with States and the response has been very encouraging. Many have already finished bidding and evaluating, some are in the process, while others are preparing for it,” Agriculture Secretary Shobhana K Pattanayak told.
The Secretary said that States will notify the crop insurance scheme soon after the bidding process was over and the insurance companies identified.
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