Correspondent

Meeting held to create awareness among bankers

New scheme adopted for red chilli Guntur district

Bank official congratulated on settling a record number of claims

VIZIANAGARAM: Chief Regional Manager of the Agriculture Insurance Company of India Limited (Hyderabad) P. Nagarjuna, has assured Collector G. Ram Narayana Reddy that weather-based crop insurance, the new concept adopted for red chilli crop in Guntur district, would be introduced for mango and banana crops from this year in the district, if proposals with crop area and damage done whether due to strong gales or heavy /scanty rainfall were sent.

At a meeting conducted at DRDA Conference Hall here on Wednesday evening to create awareness among bankers about the insurance scheme, Mr. Nagarjuna said compensation was now being given under crop insurance scheme to farmers if only the yield per hectare dropped below 50 per cent in drought conditions; but now, notwithstanding the yield per hectare and weather conditions, compensation under the new weather-based insurance scheme would be paid to farmers.

He said that the scheme introduced for red chilli in Guntur district was a success. He also congratulated Lead Bank Manager B.V.K. Acharyulu on settling a record number of claims and said that the district probably would stand second in the State after Anantapur in the State when the figures in this regard were available later this month.

Detailing the progress on crop insurance coverage, the Lead Bank Manager said that the number of farmers covered swelled from 34,799 in 2008 to 1, 11, 321 in 2009 and also the area covered from 48, 218 ha in 2008 to 1, 83, 777 ha in 2009 and added that this was possible due to concerted efforts of bankers and agriculture officials in the district. Even in case of non-loanee farmers the insurance cover that was negligible in 2008 improved to 35000 in 2009, he added.