Extended cut-off dates hurt crop insurance scheme

Monsoon risks will largely be known by July 31

Namrata Acharya  |  Kolkata 

Flaws have started surfacing in the Pradhan Mantri Fasal Bima Yojana (PMFBY), a little over a year after it was launched in January 2016.  The cut-off date to enrol in the scheme for the kharif season is July 31, by when monsoon patterns are known. If predictions of a weak monsoon come true this year, insurers would have to face big claims.  “We would like a short cut-off time, so that there is no adverse selection against us. We have articulated this to the state as well as the central governments. Though we have accepted the business, we have also recorded ...

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Extended cut-off dates hurt crop insurance scheme

Monsoon risks will largely be known by July 31

Monsoon risks will largely be known by July 31 Flaws have started surfacing in the Pradhan Mantri Fasal Bima Yojana (PMFBY), a little over a year after it was launched in January 2016.  The cut-off date to enrol in the scheme for the kharif season is July 31, by when monsoon patterns are known. If predictions of a weak monsoon come true this year, insurers would have to face big claims.  “We would like a short cut-off time, so that there is no adverse selection against us. We have articulated this to the state as well as the central governments. Though we have accepted the business, we have also recorded ... image
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