BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2.00%
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1.5%
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5.00%
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3.50%
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Detailed explanation-1: -Answer: WBCIS has been modified and the administrative provisions and operationalisation of the scheme have been brought at par with PMFBY. Likewise, the premium rates have been fixed at a maximum of 2% of Kharif, 1.5% for Rabi and 5% for horticultural/commercial crops.
Detailed explanation-2: -Premium: The prescribed premium is 2% to be paid by farmers for all Kharif crops and 1.5% for all rabi crops. In the case of annual commercial and horticultural crops, the premium is 5%.
Detailed explanation-3: -The Maximum Premium payable by the farmers will be 2% for all Kharif Food & Oilseeds crops, 1.5% for Rabi Food & Oilseeds crops and 5% for Annual Commercial/Horticultural Crops. The difference between premium and the rate of Insurance charges payable by farmers shall be shared equally by the Centre and State.
Detailed explanation-4: -The premium rates are 3.5% per cent (of sum insured) for bajra and oilseeds, 2.5% for other Kharif crops; 1.5% for wheat and 2% for other Rabi crops. In the case of commercial/horticultural crops, actuarial rates are being charged.