With the next sowing season set to begin, the Maharashtra Government has directed all insurance companies to dispose of all farm claims by June 5, 2018. Sources close to the development informed Zee Business’s Anurag Shah that the Chief Minister Devendra Fadnavis during a meeting with CMDs of insurance companies has asked them to disburse all claims by June 5.
Currently, a claim settlement of about Rs 4000 crore of crop insurance has not been disposed of till date. The release of the claims will definitely give a relief to farmers before the sowing season starts.
During the meet, the insurance companies informed the chief minister that they were not able to dispose of the claims due to certain technical glitches in the DBT details of the farmers. Following which, Mr Fadnavis asked them to deposit the amount in banks, which will be responsible for crediting the claim amount to the farmers.
Reports suggest that there is a delay in disbursal of the state’s farmers claims under the centre’s flagship crop insurance scheme, the Pradhan Mantri Fasal Bima Yojna (PMFBY). The claim more than Rs 2,260 crore were due for the Kharif season for 2017 but the insurance companies have been able to pay around Rs 165 crore to farmers till May 10, which stands to 7.2 per cent of the total claim.
More than 81 lakh farmers have registered themselves for the insurance and around about 45 lakh farmers made claims, of which only 3.5 lakh have received the payouts.