International Journal of Agriculture Sciences ISSN: 0975-3710 & E-ISSN: 0975-9107, Volume 12, Issue 5, 2020, pp.-9611-9613. Available online at https://www.bioinfopublication.org/jouarchive.php?opt=&jouid=BPJ0000217 Research Article PERFORMANCE OF CROP INSURANCE SCHEMES IN MADURAI DISTRICT M. PRAHADEESWARAN* Department of Agricultural Economics, Tamil Nadu Agricultural University, Coimbatore, 641 003, Tamil Nadu, India *Corresponding Author: Email -
[email protected] Received: March 01, 2020; Revised: March 12, 2020; Accepted: March 13, 2020; Published: March 15, 2020 Abstract: Crop Insurance serves as a cushion against yield led income loss due to risk factors. Several insurance schemes had been implemented since 1972 with improvements based on experience in the earlier schemes. Agricultural Insurance Company is the Implementing Agency of Pradhan Mantri Fasal Bima Yojna in Madurai District. This district is classified under cluster-1 I which is medium risk category. Sample survey results showed that nearly 78 percent of crop loans were dispersed through cooperative societies and 22 percent through the commercial banks. Madurai District Central Cooperative Bank (MDCCB) and Lead Bank play a crucial role in dispersal of loans and help farmers in insurance claims. Nearly 80 percent of the sample farmers were willing to pay the existing level of premium, 17% of the farmers were expecting to reduce the premium from the existing level. Though adequate awareness was created among the farming community about the PMFBY, 24 percent of farmers were not aware of prevented sowing and exempted clauses of the scheme. Overall, the farmers were satisfied with the PMFBY compared to NAIS as it provided large amount of claims in general.