Pradhan Mantri Fasal Bima Yojana Challenge Quiz

Assess your knowledge of the Pradhan Mantri Fasal Bima Yojana, India's flagship crop insurance scheme, including its features, coverage, and implementation details. Explore key aspects and understand how the scheme benefits farmers.

1. Purpose of PMFBY

   What is the main objective of the Pradhan Mantri Fasal Bima Yojana (PMFBY) launched in India?

   1. To sell fertilizers at subsidized prices
   2. To offer loans at reduced interest rates
   3. To ensure employment to rural youth
   4. To provide crop insurance against natural calamities

   Explanation: The main objective of PMFBY is to provide insurance coverage to farmers against crop loss due to natural calamities. Giving loans at lower interest rates and subsidizing fertilizers are covered under different schemes, while employment generation is not the main goal of PMFBY.

2. Premium Rates

   Under PMFBY, what is the maximum premium rate that farmers pay for Kharif crops?

   1. 5%
   2. 10%
   3. 2%
   4. 0.5%

   Explanation: Farmers pay a maximum premium of 2% for Kharif crops under PMFBY; the remaining premium is shared by the government. Rates like 5% and 10% are incorrect, and 0.5% is lower than the set premium for this season.

3. Coverage Type

   Which of the following risks is covered under the Pradhan Mantri Fasal Bima Yojana?

   1. Damage due to theft
   2. Market price fall of produce
   3. Loss from improper storage
   4. Loss due to drought

   Explanation: PMFBY covers risks like drought, flood, and other natural calamities. Theft, price fluctuations, and storage losses are not covered by this insurance scheme.

4. Enrollment Process

   Which method can farmers use to enroll in PMFBY?

   1. Through banks or Common Service Centers (CSCs)
   2. Via television advertisements
   3. Enrollment is automatic for all citizens
   4. Only by visiting Ministry headquarters

   Explanation: Farmers can enroll in PMFBY by applying at designated banks and CSCs. Ministry headquarters is not an enrollment point, TV ads only spread awareness, and automatic enrollment is not practiced.

5. Sum Insured Determination

   In PMFBY, how is the sum insured (coverage amount) for a farmer generally determined?

   1. Based on the scale of finance and notified area
   2. Decided by a lucky draw system
   3. Fixed at a national minimum for all farmers
   4. Chosen arbitrarily by the insurance company

   Explanation: The sum insured is calculated as per the scale of finance for the particular crop and area notified under the scheme. It is neither fixed nationally nor determined by draws or arbitrary decisions.