PMFBY: No insurance firms bid for 3 clusters in Maharashtra

Farmers in as quite a few as 8 districts in Maharashtra may not be capable…

Farmers in as quite a few as 8 districts in Maharashtra may not be capable to insure their crops beneath the PM Fasal Bima Yojana (PMFBY) scheme in the forthcoming kharif time as no insurance policies agency arrived forward to bid for three clusters in the Point out.

The last day for bidding for twelve clusters – just about every cluster has between 1 and four districts – was last Wednesday (Might twenty), and there were being no takers for three clusters, and two some others had just 1 bidder just about every, according to resources in the know of matters.

These districts are Aurangabad, Beed, Bhandara, Gondia, Jalna, Kolhapur, Palghar and Raigarh.

Whilst Beed is a cluster with one district, Jalna, Gondia and Kolhapur form 1 cluster. The other four districts are aspect of a further cluster which similarly unsuccessful to appeal to bids. Apart from, two newly-fashioned one district clusters — Latur and Osmanabad — have bids from only 1 crop insurance policies agency, the Agricultural Coverage Corporation of India (AIC).

“One can realize why insurance policies providers are hesitant to offer you crop insurance policies address in clusters such as Beed, Latur and Osmanabad (which typically have some of the greatest assert prices), but it is shocking to see there are no takers for the Cluster No. six comprising Palghar, Raigarh, Aurangabad and Bhandara, which has rather minimal high quality prices and lesser range of promises,” the resources claimed.

Whilst Bajaj Alliance Coverage Co Ltd and Iffko-Tokio Coverage Cp Ltf bid for 5 clusters just about every, AIC, Reliance Coverage Co Ltd and HDFC Ergo bid for three clusters just about every. Bharti Axa Common Coverage sought to get the job done in two clusters.

Very poor participation

Similarly, the other crop insurance policies scheme – Climate Primarily based Crop Coverage Plan – far too unsuccessful to excite the insurance policies companies, prompting the Point out agriculture division to prolong the deadline till Might 28 citing ‘poor participation’.

The flagship crop insurance policies scheme introduced by the Narendra Modi-led NDA governing administration was in little bit of issues in Maharashtra because the former kharif time, specially.

Major rains and floods through the fag conclusion of the former monsoon time resulted in huge crop reduction in the Point out, primarily in Marathwada location.

As a outcome, insurance policies companies featuring possibility address beneath PMFBY scheme had to shell out one hundred twenty for every cent of overall high quality gathered in the Point out.

In the course of the rabi seasonn that has just absent by, insurance policies companies did not appear forward to offer you PMFBY address to farmers.

In accordance to the resources, the governing administration is in two minds: irrespective of whether to repeat bidding process only for these three clusters or for all clusters in the Point out.

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