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20 Aug 2017, 19:04 HRS IST
IIT accepts resignation of whistle-blower Prof Rajeev Kumar whose compulsory retirement order was quashed by Pranab Mukherjee days before he demited office as prezWe will take strict against our staff if they are found guilty: JamshedInitial report will come by this evening: Md Jamshed on the inquiry into Utkal Express derailmentRailway Commissioner (Safety) will also find out whether laid down rules were followed or not: JamshedRailway Commissioner, Safety, will ascertain what type of maintenance work was being carried out on the track in his detailed probe: JamshedSome maintenance work was going on, which might have caused derailment of Utkal Express: Mohd Jamshed, Member, Traffic
  • PTI
  • Cos pay Rs 6,624 cr crop insurance claims so far under PMFBY

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20:51 HRS IST

New Delhi, Aug 11 (PTI) Insurance firms have settled claims of Rs 6,624.65 crore to farmers so far in the first year of the roll out of the Pradhan Mantri Fasal Bima Yojana (PMFBY) in 2016-17, the Agriculture Ministry said today.

The PMFBY was launched in January 2016 replacing the older schemes to ensure farmers pay less premium and get full and early settlement of the claims.

During the 2016-17 crop year, a gross premium of Rs 22,344.93 crore was collected and total claims are estimated to be Rs 15,100.68 crore.

"Of this amount, claims of Rs 9,446.83 crore have been approved and claims of Rs 6,624.65 crore have already been settled/paid by insurance companies," the ministry said in a statement.

It is to be noted that claim calculation for some crops/areas for Kharif 2016 and most of the areas/crops for Rabi 2016 is yet to be made by insurance companies, it said.

The 2016-17 crop year (July-June) received good monsoon.

In erstwhile crop insurance schemes, claims settled were only Rs 1,357.60 crore vis-a-vis premium of Rs 2,131.29 crore collected in 2011-12.

Since 2015-16 was a drought year, claims settled was higher at Rs 4,155.40 crore than the gross premium of Rs 3,076.92 crore.

During 2016-17, a total of 5.74 crore farmers were covered, including 1.35 crore non-loanees.

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