businessfortnight

India needs an “effective, inclusive and universal” crop insurance scheme to act as a safety net for farmers as frequency of extreme weather events due to climate change is likely to increase in the future, a green body said on Friday. Noting that the new crop insurance policy is a step in the right direction but needs improvements, Centre for Science and Environment (CSE) said that insurance unit is still not at individual farmer level which is a major problem in compensating losses of the individual farmers. The Union Cabinet chaired by Prime Minister Narendra Modi recently approved the new crop insurance scheme — Pradhan Mantri Fasal Bima Yojna (PMFBY). CSE said that the new scheme will replace two schemes – National Agricultural Insurance Scheme (NAIS) and the modified NAIS (MNAIS). “Frequency of extreme weather events and slow onset events such as droughts are likely to increase in the future due to climate change. India needs an effective, inclusive and universal insurance sche...

Faced with two consecutive drought years, the Centre on Wednesday cleared a crop insurance scheme under which farmers’ premium has been kept at a maximum of 2 per cent for foodgrains and oilseeds and up to 5 per cent for horticulture/cotton crops. To be rolled out from the kharif season this year, the much awaited scheme — Pradhan Mantri Fasal Bima Yojana — was cleared at the Cabinet meeting, headed by Prime Minister Narendra Modi. PMFBY will replace the existing two schemes National Agricultural Insurance Scheme as well as Modified NAIS which have had some inherent drawbacks. “The cabinet has cleared the Agriculture Ministry’s proposal on new crop insurance scheme,” sources said. It has approved farmers’ premium between 1.5 to 2 per cent for foodgrains and oilseeds crops, and up to 5 per cent for horticultural and cotton crops, they said. The farmers’ premium would be 1.5 per cent for rabi foodgrains and oilseeds crops, while 2 per cent for kharif foodgrains and oilseeds crops. For h...

India’s one of its kind Educational Program that prepares children on ‘Money and Savings’ Bangalore: IndiaExide Life Insurance Junior Finance Guru launched in Bangalore and Jaipur. Will be launched in 20 cities later in the year 2016.Specially designed study material will help students learn basic elements of money and savingsStudents get to compete amongst leading schools at City Level for the “Junior Finance Guru” titleRegistrations for the program are free and are currently open till 10th January 2016 – Visit juniorfinanceguru.com to register your child / students for the program today ?Exide Life Insurance, an established and profitable life insurance company announced launch of ‘Junior Finance Guru’. Being India’s one of its kind program, Junior Finance Guru emphasizes the importance of laying a strong foundation for children by familiarizing them on importance of good saving habits thereby helping them making an early start. The program in its initial phase will fo...