National Federation of State Cooperative bank (NAFSCOB) Vice President Ashok Bajaj recently addressed delegations of farmers at the apex bank headquarters located in Chhattisgarh. Bajaj said Pradhan Mantri Bhima Yozana will defend farmers against natural disaster and will provide them with a sense of economic security.
He said cooperatives have targeted to insure 20 lakh farmers under this scheme in the coming years. The issues related to this scheme will soon be addressed by the government, Bajaj added.
He said under the new insurance policy farmers get benefit before or after the harvesting.
Under the new crop insurance scheme farmers should give 1.5. percent premium in Rabi season and 2 percent in Kharif season and the remaining part shall be given by the centre or the state governments. In the case of natural disaster, farmers will get 25 percent of claims directly in their bank accounts. The scheme would certainly work for the drought affected areas.
Besides Bajaj, Kisan Rice Mill Navara Razim, Chairman, Madhav Prasad, District Cooperative Union, former Chairman, Kumar Singh, Hemant Tarak, Kalesh Gupta, Guni Sahu and others were also present on the occasion.