You can download the PMFBY Opt-out Application Form PDF for free by using the direct link provided below on the page.
PMFBY Opt-out Application Form PDF
Farmers with loan dues will need to give a simple declaration to their bank branch seven days before the final date for enrollment under the Pradhan Mantri Fasal Bima Yojana (PMFBY) to opt-out of the scheme, as per the government’s guidelines. This initiative aims to provide flexibility and choice to farmers who may have different needs or preferences when it comes to agricultural insurance.
The cut-off date for enrollment in the PMFBY scheme is July 31 for the Kharif season and December 31 for the rabi season. It’s important for farmers to be aware of these deadlines to ensure that they can make an informed decision about their participation in the scheme.
To ensure a smooth process, banks have been directed to maintain a record of the declarations given by farmers who choose to opt-out of the scheme. This record will help prevent any premium deductions after a farmer has made the decision to move out of the PMFBY scheme. It’s a proactive step taken by the government to safeguard the interests of farmers and ensure that they have control over their insurance coverage.
The government has urged banks to conduct an awareness drive among loanee farmers. The aim of this drive is to provide information and guidance to farmers about the benefits and importance of the PMFBY scheme. By raising awareness, the government hopes to persuade farmers to remain with the scheme and take advantage of the financial protection it offers in case of crop losses or damages.
The Union Cabinet, which is responsible for making important policy decisions, took the decision to make the PMFBY scheme optional for loanee farmers last month. This decision reflects the government’s commitment to empowering farmers and giving them the freedom to choose the best options for their specific circumstances. By allowing farmers to opt-out of the scheme if they have loan dues, the government acknowledges the financial challenges faced by some farmers and provides them with the flexibility to manage their financial obligations while still ensuring access to insurance coverage.
It’s important for farmers to carefully consider their options and assess their individual situations before making a decision about the PMFBY scheme. They can consult with their bank branch or seek guidance from agricultural extension officers to understand the potential benefits and drawbacks of participating in the scheme.
PMFBY Opt-out Farmers Declaration Form (Required Details)
1. Name of the KCC Holder: Provide your full name as it appears on your identification documents. This is important for identification and record-keeping purposes.
2. KCC Loan Account No.: Fill in the unique account number assigned to your KCC loan. This number helps the bank track and manage your loan details effectively.
3. Mobile or Telephone Number: Provide a valid mobile or telephone number where you can be reached. This contact information will be used by the bank to communicate important updates or information related to your KCC account.
4. Signature of Account Holder: Sign the application form using your official signature. This signature serves as a verification of your identity and confirms your consent for the KCC account.
5. Branch Manager Signature with date: Once you have completed and signed the application form, the branch manager will also sign the form, along with the date. This signifies that the form has been reviewed and accepted by the bank.
6. Bank Branch Name: Write down the name of the bank branch where you are submitting the KCC application form. This helps in identifying the specific branch where your account will be managed.
7. Branch Code Number: Include the unique code number assigned to the bank branch where you are submitting the form. This code number helps in accurately identifying and locating the branch.