MODIFIED NATIONAL AGRICULTURAL INSURANCE SCHEME (MNAIS) :

The ongoing NAIS has been reviewed and modified to make it more farmers friendly. It has been launched as a pilot in selected States/UTs. In addition to payment of claims for yield loss on area approach basis (as under NAIS), its other features include:

(i) Unit area of insurance reduced to village/village panchayat level for major crops

(ii) Minimum number of CCEs required to be conducted at village/village Panchayat level reduced to four (except groundnut crop)

(iii) Threshold yield based on average yield of the preceding 7 years excluding upto 2 calamity years declared by concerned government/authority

(iv) Indemnity payment for Prevented sowing/planting risk

(v) Coverage of Post harvest losses due to coastal cyclone

(vi) On-account payment upto 25% advance of likely claims as immediate relief

(vii) Minimum Indemnity Level (IL) is raised to 70%

(viii) Uniform seasonality disciplines both for loanee & non-loanee farmers

(ix) Private sector insurers apart from Agriculture Insurance Company (AIC) of India, are also permitted to implement the scheme with the aim of creating a competitive market for crop insurance to enable the farmers to insure their crops at reasonable premium rates.