Pradhan Mantri Fasal Bima Yojana: Eligibility, insurance cover, Meri Policy Mere Haath campaign for farmers explained

Started by the Centre to aid farmers by providing financial support after a loss, the Pradhan Mantri Fasal Bima Yojana (PMFBY) covers crop losses due to natural disasters such as earthquakes, floods, hurricanes, cyclones, and droughts.

Farmers can report their crop loss and receive compensation from the government using the official website here — pmfby.gov.in . Notably, once approved, the amount is deposited into farmer’s bank account under direct benefit transfer (DBT).

Farmers can also use the website to check and track the status of their applications online, eliminating the need for in-person visits.

As of August 2026, the PMFBY offers comprehensive coverage against droughts, floods, cyclones, hailstorms, pests, diseases, prevented sowing, localized calamities, damage by inundation, unseasonal rainfall, hailstorms and specified post-harvest losses nationwide.

PMFBY follows the principle of “One Nation, One Crop, One Premium”, ensuring uniformity and fairness in premium rates across the country. The Budget has allocated ₹12,200 crore for FY27 and the scheme is currently being implemented by 25 States and Union Territories in Kharif 2026.

— Since its inception over the last 10 years, over 92.46 crore farmer applications have been insured, and over 26.33 crore farmer applications have been paid claims exceeding ₹2.06 lakh crore.

— Benefits include affordable premiums, where the maximum premium payable by the farmer will be 2% for the Kharif food and oilseed crops. For rabi food and oilseeds crop, it is 1.5% and for yearly commercial or horticultural crops it will be 5%. The remaining part (95% to 98.5%) of the actuarial premium is borne jointly by the Centre and states on 50:50 basis, except for North Eastern States (from Kharif 2020) and Himalayan States (from Kharif 2023) where it is shared in the ratio of 90:10.

— PMFBY aims to process claims within two months of the harvest to ensure that farmers get the compensation quickly, preventing them from falling into debt traps and integrates advanced technologies like satellite imaging, drones, and mobile apps for precise estimation of crop loss, ensuring accurate claim settlements.

Risks covered under PMFBY against crop losses at different stages of cultivation and harvesting, includes:

• Yield Losses (standing crops, on notified area basis): PMFBY provides area-based coverage against non-preventable risks such as drought, dry spells, floods, inundation, cyclones, hailstorms, lightning, pests and diseases.
• Prevented Sowing: Where insured farmers incur expenditure but are prevented from sowing due to adverse weather conditions, they shall be eligible for claims up to a maximum of 25% of the sum insured.
• Post-Harvest Losses: Crops kept in “cut-and-spread” condition for drying in the field are covered for up to 14 days after harvesting against specified cyclonic and unseasonal rain events.
• Localised Calamities: Individual farm-level losses caused by hailstorms, landslides, inundation, cloud bursts, and damage by natural fire are covered under specified conditions.

However, PMFBY excludes losses from war, nuclear risks, riots, theft, specified post-harvest conditions, and other preventable risks.

A number of insurance providers, including SBI General Insurance, are participating in the Centre’s Meri Policy Mere Haath (MPMH) campaign for Kharif 2026 under PMFBY. The initiative aims to deliver crop insurance policies directly to farmers and strengthen on‑ground awareness about the PMFBY scheme.

The policies will be distributed across nine major states — Madhya Pradesh, Uttar Pradesh, Uttarakhand, Maharashtra, Assam, Odisha, Tamil Nadu, Karnataka, and Jharkhand. SBI General Insurance said that as part of the campaign, it will support policy distribution camps backed by Fasal Bima Pathshalas, Kisan Melas, and Kisan Goshtis.

“For every farmer, knowing their crop is protected brings a sense of security that goes far beyond a policy document. Meri Policy Mere Haath is a powerful initiative that ensures this reassurance reaches them directly, strengthening trust in the crop insurance system. Through our outreach across nine states, we want farmers to feel supported, informed, and confident that PMFBY stands beside them in times of uncertainty,” said Naveen Chandra Jha, MD and CEO, SBI General Insurance.

Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="jocelyn.fernandes@htdigital.in">jocelyn.fernandes@htdigital.in</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>

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