Summary:
The two-day conference will be held in this tech hub till Saturday with discussions on subjects like performance evaluation of PMFBY, role of technology in current crop insurance and implementation issues and challenges of crop insurance. Representatives of state governments, state-run banks, insurance firms, co-operative banks and others were part of the conference. Bengaluru: Insurance Regulatory and Development Authority of India (IRDAI) Chairman Subhash Chandra Khuntia on Friday urged the state-run insurance companies to settle claims of farmers on crop loss at the earliest. With about 50 per cent of the country’s workforce employed in agriculture sector, there was a need to strengthen the redress mechanism of the crop insurance scheme, Khuntia said. PMFBY, launched by Prime Minister Narendra Modi in February 2016, is the state-sponsored crop insurance scheme, providing financial support to millions of farmers suffering from crop losses across the country..