Government Brings Major Changes In Pradhan Mantri Fasal Bima Yojana

Government Brings Major Changes In Pradhan Mantri Fasal Bima Yojana

The Government has approved major changes in the Pradhan Mantri Fasal Bima Yojana (PMFBY) making it optional for farmers with a view to plug loopholes in the farm insurance scheme.

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Under the PMFBY, which was launched in February 2016 by the Prime Minister Shri Narerndra Modi, it is mandatory for loanee farmers to take insurance cover under this scheme.

Gold prices today jumped ₹462 to ₹42,339 per 10 grams in the national capital on positive global cues. Silver prices also surged ₹1,047 to ₹48,652 per kg, from ₹47,605 per kg on Tuesday. The gold had closed at ₹41,877 per 10 grams in the previous trading session.

India’s financial institution sector may continue to face challenging operating environment, with deceleration in growth and tight liquidity conditions. It said the stress in NBFCs, SMEs and the real estate sector will continue to put asset-quality pressures on financial institutions in the country.

Kotak Mahindra Bank has said the Reserve Bank of India has granted its final approval for reducing promoters’ stake in the bank to 26%.

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