Big boost for Pradhan Mantri Fasal Bima Yojana! Future Generali India Insurance settles Rs 276 crore PMFBY claims during lockdown

Pradhan Mantri Fasal Bima Yojana: Future Generali India Insurance Company, the general insurance arm of the joint venture between Future Group and global insurer Generali, has settled Rs 276 crores of Pradhan Mantri Fasal Bima Yojana (PMFBY) claims during the lockdown period. The claim amount has benefited 1,64,917 loanee farmers and 85,460 non-loanee farmers.

The company has paid PMFBY claims in districts of Karnataka (Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur, Yadgir), Rajasthan (Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh) and Maharashtra (Ahmednagar, Buldana, Nanded, Satara, Yavatmal). The claim amount has benefitted 1,64,917 loanee farmers & 85,460 non-loanee farmers in 19 districts of these 3 states. Out of which, 38,928 female farmers received claims amounting to Rs 44.32 crore via Direct Beneficiary Transfer (DBT).

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Speaking on the PMFBY claim disbursal during lockdown; Anup Rau, MD & CEO, Future Generali India Insurance Company said, “Shortage of labour force and breakdown in supply chains has left many farmers struggling to sell their crops. In these testing times, we at Future Generali India Insurance fast-tracked our settlement process which benefited more than 2.5 lakh farmers so far.”

Pradhan Mantri Fasal Bima Yojana (PMFBY) offers start to end insurance cover against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest due to poor yield.