What is Rashtriya Krishi Bima Yojana
It Comes Under Primary sector, Agriculture.In 1999-2000, the Rashtriya Krishi Bima Yojana was started
Rashtriya Krishi Bima Yojana Main Objectives.
- The Main Objective is to encourage development in the Cultivation sector, food crops, cash crops are to be ensured.
- The Special Objective is to provide insurance to the debtor farmers, landless and small farmers so that they can be benefited.
- To prevent the stop of incidents like suicide and running away from the production process by the farmers because of crop spoiling and loans they are not able to clear on the time.
- To protect the farmers from the natural calamity like floods, fire accidents,p ests, and droughts.
- To provide Insurance to the farmers in future so that their motivation regarding the increase in production of crops keeps existing.
A separate organization for agriculture insurance called ‘Agriculture Insurance Company of India‘ Limited’ has been corporate under the Companies Act,1956 on 20 December ,2002 with the capital participation from General Insurance Corporation of India(GIC),Four Public Sector General Insurance Companies that is
- National Insurance Company Limited.
- New India Assurance Co Ltd.
- Oriented Insurance Company Limited.
- United India Insurance Co Ltd and NABARD
National Agriculture Insurance Scheme(NAIS) which was being implemented by the General Insurance Corporation of India(GIC) has since been transferred to the new Company named Agriculture Insurance Company of India Limited(AICIL).