All the crop insurance schemes including PMFBY, restructured WBCIS
and erstwhile NAIS, NCIP component schemes of MNAIS and WBCIS
are compulsory for loanee farmers availing crop loan/Kisan Credit Card for notified crops in notified areas.
As an incentive to the farmers, premium subsidy @ 10% to small and marginal farmers under NAIS, upto 75% under MNAIS, upto 50% under WBCIS
and upto 75% under CPIS is provided to all participating farmers and the financial liabilities under the aforesaid schemes are equally shared by the Central Government and the concerned State Government.
Based on evaluation studies, experience gained through implementation and feed-back of the stakeholder, various improvements / changes have been made in yield index based Modified National Agricultural Insurance Scheme (MNAIS), weather index based Weather Based Crop Insurance Scheme (WBCIS
) & crop specific based Coconut Palm Insurance Scheme (CPIS) and a new umbrella central sector scheme in the name of National Crop Insurance Programme (NCIP) has been introduced by merging MNAIS, WBCIS
& CPIS throughout the country from Rabi 2013-14.