BANKING AFFAIRS

Detailed explanation-1: -Agriculture Insurance Company of India Limited was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion.

Detailed explanation-2: -Smt. Subramanian has assumed charge as Chairman-cum-Managing Director (CMD) of Agriculture Insurance Company of India Limited in September 2022.

Detailed explanation-3: -1. To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases. 2. To encourage the farmers to adopt progressive farming practices, high value inputs and higher technology in Agriculture.