Overview

• The revised PMFBY rules mandate the Union Government to pay its premium subsidy share even if state governments do not contribute
• States that default on their subsidy obligations will incur 12% interest penalties, with the accrued amount credited directly to farmers’ accounts
• Landowners can now authorise tenant farmers and sharecroppers without land titles to receive PMFBY insurance benefits
• Farmers must complete Aadhaar eKYC verification by July 31 for their policies to remain valid and secure compensation
• Claims totalling ₹5,405 crore from seasons through kharif 2024 remain unsettled under the scheme’s previous framework