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Atal Pension Yojna Scheme Online Details Benefits and How to Apply

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The Government of INDIA is extremely concerned about the old age income security of the working poor. They are working on encouraging and enabling them to join National Pension System (NPS). Generally, in an unorganized sector, there are risks of their future security, they did not have any formal pension provision. Govt. of India introduced Swawlamban Yojana in 2010-2011. But for some obvious reasons, it couldn’t reach every person, especially who needed it. official website for more information regarding apy is npscra.nsdl.co.in.

Therefore, the government introduced a universal security scheme in insurance and pension sectors for all the Indians especially for poor and underprivileged such as drivers, personal maid, gardeners etc. in budget 2015-16. That is why government launched Atal Pension Yojana, which will provide defined pension depending on the contribution and its period. The APY will be focused on all the people in an unorganized sector who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA).

atal pension yojana information

atal pension yojana

Under the Atal Pension Yojana, the subscribers would receive the pension of 1000/-, 2000/-, 3000/-, 4000/- and 5000/- rupees per month respectively depending on their contribution, which itself is based on the age period of joining Atal Pension Yojana. The minimum age of joining APY is 18 and Maximum is 40. Therefore contribution for any subscriber for APY would be 20 years or more. Atal Pension Yojana was introduced on 1st June 2015.

This scheme will be linked to P.M. JAN DHAN YOJANA Accounts because primarily these accounts had zero balance. By linking APY to these accounts govt. is trying to reduce such figures of zero accounts.


HOW TO APPLY FOR ATAL PENSION YOJANA

  • Anyone can apply for this scheme either by reaching to their respective banks, where they have opened their bank accounts or by applying online.
  • Whether it is offline mode or its online, subscriber has to fill up the form, give their mobile number and Aadhar Card Number.
  • Anybody can download the form online or visit the branch of their banks. The form is available in different National and regional languages such as English, Hindi, Gujarati, Marathi, Tamil, Telugu, Kannada, Bangla and Odia.
  • The contribution in the APY is through electronic auto debit way only. This means, on every month the amount is deducted from the accounts linked with this scheme.
  • The subscriber has to maintain the minimum account balance in their JAN DHAN ACCOUNTS. If they fail to do so, they will have to pay the fine. The accounts can also be suspended if they fail to pay the fine.
  • Those will taxable income are not eligible for APY.
  • The contributor range starts from 14/- Rs a month to 1454/-
  • The minimum period of contribution is 20 years.
  • You can increase your per month contribution anytime by visiting bank and following the process.
  • You can pay the premium monthly, quarterly and on bi-annual basis.
  • You can terminate the scheme before 60 in case of terminal deceases and receive the full amount.
  • In case of early closure of the scheme, you will only be returned with the amount you invested plus the interest you earned. Not the co-contribution of the govt. and interest earned on that amount.

BENEFITS OF ATAL PENSION YOJANA

  • It provides guaranteed pension of Rs. 1000/-, 2000/-, 3000/-, 4000/- and Rs. 5000/- to the subscribers. The Subscriber will be able to change the amount they receive during the accumulation period.
  • In case of death of the subscriber, the spouse will be eligible to receive the pension till his/her death. After the demise of both the subscriber and the spouse, the nominee will be entitled to receive the pension which subscriber has accumulated till 60 years of age. However, if the subscriber dies before 60 years, the spouse would have no choice except either to exit the scheme or to continuing the scheme in the name of the subscribers for the remaining vested years. He/she would be able to receive the same amount of pension till his/her death.
  • The govt. will also contribute 50 % of the annual premium of Rs. 1000/- which is lower for every subscriber.
  • The only document needed to become a member, National Aadhar Card Number is the primary KNOW YOUR CUSTOMER document for the subscriber, spouse and the nominee for entitlement purpose.
  • The ATAL PENSION YOJANA is basically for everyone but especially for the people who work in an unorganized firm. This way, they can contribute a small amount every month for their old age. APY is not suitable for people with decent incomes, as the pension pay-outs will not be sufficient for their old age needs.
  • The contributions to APY also have the same benefits as of National Pension Scheme (NPS), according to a circular released by Income Tax Department. Nearly 20 lakh subscribers have joined this scheme after it launched in 2015. NPS Lite and Swawlamban Yojana both could manage only 45 lakh subscribers in past 6 years.
  • The subscribers who have already enrolled for the schemes, like Swawlamban Yojana will automatically be transferred to APY unless they opt out of this Central Pension Schemes.
  • As govt. will contribute 50% from the annual contribution of individual subscriber, the amount every single person has to deposit will be as low as 500/- per year. That is one of the best schemes introduced so far, for the lower financial income class people. Even a labour can think about their old age security with ATAL PENSION YOJANA.
  • APY will address the total number of 88% of the labour force, combining all the unorganized sectors. This scheme will encourage them to join the NATIONAL PENSION SYSTEM.

ATAL PENSION YOJANA is therefore, one of its own kind. The reason is either the previous schemes were not properly introduced or it might have lacked in some other facets a normal scheme should not have. The benefits from this scheme are better.

Pradhan Mantri Fasal Bima Yojana Details Online

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Prime Minister Agriculture Crop Insurance Scheme: Agriculture in India is highly susceptible to risks like droughts and floods. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility for the next season. For this purpose, Govt. Of India launches many agricultural schemes throughout the country. Pradhan Mantri Fasal Bima Yojana is a new crop scheme introduced by government of India in November 2016 to overcome all the shortcomings or weaknesses that lied in the previous schemes. The new scheme is in line with “one nation-one scheme”. It is implemented through multi agency frame work by selected insurance companies under the overall guidance and control of Department of Agriculture, Cooperation and Farmers Welfare (DAC & FW), Ministry of Agriculture and Farmers Welfare ( MoA & FW ) , Government of India and the concerned state in co-ordination with various other agencies ; viz financial institutions like Commercial Banks , Co-operative banks , Regional Rural Banks and their regulatory bodies . This scheme incorporates all the improved and best features as compared to all other older schemes.

Fasal Bima Yojana replaced especially two older schemes namely National Agricultural Insurance Scheme (NAIS) introduced in 1999 and modified NAIS introduced in 2011.

pradhan mantri fasal bima yojana online apply

The objective is to provide financial support and insurance coverage in all the possible manner to farmers in the event of failure of any notified crop as a result of natural calamities, pests and diseases. Due to one or more reason or the profit of farmers this scheme looks even more beneficiary as compared to other schemes. Such as to stabilize the income of farmers to ensure their continuance in farming, to encourage farmers to adopt innovative and modern agricultural techniques. To ensure the flow of credit to the agricultural sector which will contribute to food security, crop diversification and enhancing growth and competitiveness of agricultural sector besides protecting farmers from production risks. The Seasonality discipline shall be same for loanee and non-loanee farmers.

The scheme ensures farmers against a wide range of external risks — drought, dry spells, floods, inundation, pests and diseases, landslides, natural fire and lightning, cyclones etc. Apart from yield loss, this scheme also covers post-harvest losses up to a period of 14 days. PM Fasal Bima Yojana Covers Kharif, Rabi, Annual commercial as well as horticultural crops. The farmer’s part of premium is 2%, 1.5% and 5% sum assured respectively in above schemes. The remaining part is paid by the central or state governments.

Private insurance companies will be roped with the Agriculture Insurance Company of India Ltd. (AIC). This scheme proposes mandatory use of remote control sensing, drones and smart phones for quick estimation of Crop loss. The aim is to bring 50% farmers under the scheme by 2019. The expenditure of this scheme is funded through Krishi Kalyan Kosh in which money obtained through Krishi Kalyan Cess is credited.

There will be no upper limit on government subsidy. Even if the premium is 90%, it will be borne by the government.

PMFBY Online Application | Pradhan Mantri Fasal Bima Yojana Online Registration

There has baan lot of queries and searches regarding Pradhan Mantri FBY Online registration and Application. We are happy to help you and guide you for the following issues.

  • Applicant must be citizen of India to access and register as proposer in crop scheme
  • Follow the link http://agri-insurance.gov.in/Login.aspx#
  • Click on ‘farmer application’
  • New function will open if registrations are available otherwise you’ll see mobile number, otp and captcha code
  • Signup or signin as per desire and requirements.

Pradhan Mantri Fasal Bima Yojana Scheme Benefits and Objectives

  • PMFBY will provide a complete insurance cover against failure of the crop thus helping in soothing the income of the farmers and inspire them for acceptance of innovative performs.
  • The Scheme can cover all Food & Oilseeds crops and Annual Marketable/Gardening Crops for which past produce data is available and for which mandatory number of Crop Cutting Experiments (CCEs) will be focused and being a part of the General Crop Estimation Survey (GCES).
  • The scheme is enforced for loaner farmer finding Crop Loan /KCC account for notified crops. However, intended for Other/non loanee farmers who have insurable interest in the insured crop(s).
  • The Maximum Premium payable by the farmers will be 2% for all Kharif Food & Oilseeds crops, 1.5% for Rabi Food & Oilseeds crops and 5% for Annual Commercial/Horticultural Crops.
  • The variance between premium and the rate of Insurance charges due by farmers shall be shared equally by the Centre and State.
  • The seasonality discipline shall be same for loanee and non-loanee farmers.
  • The scheme will be applied by AIC and other empanelled private general insurance companies. Selection of Implementing Agency (IA) will be done by the concerned State Government through bidding.
  • The existing State Level Co-ordination Committee on Crop Insurance (SLCCCI), Sub-Committee to SLCCCI, District Level Monitoring Committee (DLMC) shall be responsible for proper administration of the Scheme.
  • The Scheme shall be applied on an ‘Area Approach basis’. The unit of insurance shall be Village/Village Panchayat level for major crops and for other crops it may be a unit of size above the level of Village/Village Panchayat.