BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is objective of PMFBY?
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providing financial support to farmers suffering crop loss/damage arising out of unforeseen events
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stabilizing the income of farmers to ensure their continuance in farming
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encouraging farmers to adopt innovative and modern agricultural practices
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All of the above
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Explanation:
Detailed explanation-1: -PRADHAN MANTRI FASAL BIMA YOJANA (PMFBY)
Detailed explanation-2: -Highlights of the scheme There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.
Detailed explanation-3: -Crop Insurance is a comprehensive yield-based policy meant to compensate farmers’ losses arising due to production problems. It covers pre-sowing and post-harvest losses due to cyclonic rains and rainfall deficit. These losses lead to reduction in crop yield, thus, affecting the income of farmers.
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