New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Consider the following Statements. (i) Pradhan

    Mantri Fasal Bima Yojana (PMFBY) wa launched in 2016. (ii) The scheme is being implemented through 18 General Insurance Companies including all the 5 Government Sector Companies. (iii) Under PMFBY, a uniform maximum premium of only 2 per cent of the sum insured is paid by farmers for all Kharif crops and 1.5 per cent for all Rabi crops.
    A Only I Correct Answer Incorrect Answer
    B I & II Correct Answer Incorrect Answer
    C II & III Correct Answer Incorrect Answer
    D Only III Correct Answer Incorrect Answer
    E I, II, and III Correct Answer Incorrect Answer

    Solution

    After detailed discussions with various stakeholders including state governments, representatives of farmer organisations, Government of India had formulated the new crop insurance scheme, viz., Pradhan Mantri Fasal Bima Yojana (PMFBY), which is being implemented in various states/union territories of the country from Kharif 2016. The scheme is being implemented through 18 General Insurance Companies including all the 5 Government Sector Companies. Under PMFBY, a uniform maximum premium of only 2 per cent of the sum insured is paid by farmers for all Kharif crops and 1.5 per cent for all Rabi crops.

    Practice Next

    Relevant for Exams: