BANKING AFFAIRS

Detailed explanation-1: -To enlarge the coverage in terms of farmers (loanee and non-loanee both), more crops and more risks, ‘National Agricultural Insurance Scheme (NAIS) – (Rashtriya Krishi Bima Yojana)’ was introduced in Rabi 1999-2000 season in the country.

Detailed explanation-2: -National Agricultural Insurance Scheme Agriculture Insurance Company of India (AIC) Ltd. is the Implementing Agency of the Scheme. The scheme is available to all the farmers – loanee and non-loanee both-irrespective of their size of holding.

Detailed explanation-3: -NAIS envisages coverage of all food crops (cereals and pulses), oilseeds, horticultural and commercial crops. It covers all farmers, both loanees and non-loanees, under the scheme. The premium rates vary from 1.5 percent to 3.5 percent of sum assured for food crops.

Detailed explanation-4: -Four insurance schemes are being implemented namely Pradhan Mantri Fasal Bima Yojana (PMFBY), Weather based Crop Insurance Scheme (WBCIS), Coconut Palm insurance scheme (CPIS) and Pilot Unified Package insurance scheme UPIS) (45 districts).

Detailed explanation-5: -National Agricultural Insurance Scheme 8.47 The National Agricultural Insurance Scheme (NAIS) was introduced in the country from the1999-2000 Rabi season, replacing the Comprehensive Crop Insurance Scheme (CCIS) which was in operation in the country since 1985.