Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired a meeting to review the implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) through video conferencing.
The meeting was attended by Debasish Panda Secretary (Financial Services), Sanjay Agarwal ,Secretary DAC&FW and other senior officials from Ministries, General Insurance Companies implementing PMFBY and Scheduled Commercial Banks.
A presentation was made by the Department of Agriculture, Cooperation & FW wherein the journey of PMFBY since Kharif 2016 as well as challenges encountered and the status of implementation for the current Kharif 2020 crop season, especially after the Revamp of PMFBY, were discussed.
The Finance Minister highlighted the need of carrying out awareness activities to ensure dissemination of information among all farmers in view of Scheme becoming voluntary for all farmers and the need for States to release Premium Subsidy on time to ensure timely settlement of claims.