More than 30 lakh farmers are happy, and Rs 3200 crore will be transferred to their accounts today.

PMFBY: Union Agriculture Minister Shivraj Singh Chouhan will transfer Rs 3200 crore to the accounts of 30 lakh farmers under the Pradhan Mantri Fasal Bima Yojana from Jhunjhunu today. The new system will speed up claim settlement, and state governments and insurance companies will be fined 12% for delay.

PMFBY: Union Agriculture Minister Shivraj Singh Chouhan will transfer a claim amount of Rs 3200 crore to the bank accounts of more than 30 lakh farmers across the country under the Pradhan Mantri Fasal Bima Yojana (PMFBY) on Monday, August 11. This payment will be made from a program organized in Jhunjhunu, Rajasthan, in which Rajasthan Chief Minister Bhajanlal Sharma, Union Minister of State for Agriculture Bhagirath Chaudhary and State Agriculture Minister Kirori Lal Meena will also be present.

Insurance claim will be paid

According to government information, insurance claims will be paid for 2023-24 and 2024-25. In this, Rs 1,156 crore will be given to the farmers of Madhya Pradesh, Rs 1,121 crore to Rajasthan, Rs 150 crore to Chhattisgarh and Rs 773 crore to the farmers of other states.

New simplified system implemented

Union Agriculture Minister Shivraj Singh Chauhan said that the central government has started a new system to simplify the claim settlement process. Now, without waiting for the premium contribution of the state government, proportional payment will be made only on the basis of the subsidy of the Center. From Kharif 2025, if any state delays subsidy contribution, then a penalty of 12 percent will be imposed on it.

Strictness on insurance companies too

The Pradhan Mantri Fasal Bima Yojana was started in 2016. Since then, claims worth a total of Rs 1.83 lakh crore have been settled. During this period, farmers have paid only Rs 35,864 crore as premium. At the same time, a penalty of 12 percent will also be imposed on insurance companies for delay in payment.