Even as farmers registration under the flagship Pradhan Mantri Fasal Bima Yojana (PMFBY) for 2018-19 kharif season is over, a large number of farmers who suffered crop losses in 2017-18 are yet to receive insurance compensation. Over 6.25 lakh farmers out of 18.99 lakh covered under the insurance scheme are still waiting for their crop loss claims to the tune of Rs 215 crore. This despite the fact that the scheme mandated settlement of claims after two months of crop cutting (around November every year) or latest by the end of the financial year. The inordinate delay in disbursement occurred despite assurance from Union Minister for Petroleum and Natural Gas Dharmendra Pradhan that the insurance claims of farmers will be settled within two weeks. Pradhan made this assurance on July 30 after a meeting with Union Finance Minister Piyush Goyal in New Delhi. While the State Government blamed insurance companies for delay, informed sources said the claims of those farmers have not be settled due to mismatch between crop cutting report and actual yield. In most cases, the claims raised were far exceeding the premium paid. Besides, there is a great degree of variance in crop cutting reports of Agriculture Department and the Revenue Department. The Government is blaming the insurance companies for no fault of theirs, it added. Earlier, the four insurance companies roped in under PMFBY are Agriculture Insurance Corporation, National Insurance Corporation, Tata AIG Insurance and Chola MS General Insurance had written to the State Government to resolve the disputes through verification of records. Meanwhile, the National Insurance Corporation has deposited Rs 640 crore out of total claims of Rs 733 crore with the banks for disbursement. Similarly, Tata AIG has deposited Rs 400 out of Rs 430 crore, Chola MS Rs 217 crore out of Rs 306 crore and AIC Rs 154 out of Rs 156 crore. PMFBY, meant to provide a comprehensive crop insurance for farmers at a low premium, has failed to meet the farmers objectives due to delay in disbursement claims. Since its launch in 2016, it has be found that the average time for settlement of claims has been five to six months. However, sources in one of the insurance companies said settled claims of the farmers have been disposited with banks. It is for the banks to explain why some farmers have not recieved their claims. Source - http://www.newindianexpress.com