Full Form of IFFCO: Indian Farmers Fertilizer Cooperative
IFFCO Full Form is Indian Farmers Fertilizer Cooperative. IFFCO is an Indian cooperative society providing services related to fertilizers for agricultural purposes in all states of India. It is a multi-state cooperative organization. IFFCO is the world’s largest fertilizer cooperative organization. Headquartered in New Delhi and formed in 1967, IIFCO is recognized worldwide for its advanced policies, improved tactics, and corporate responsibilities to society.
It began with 57 organizations as members, but now almost 40,000 cooperative organizations are members of this important cooperative society. IIFCO aims to provide farmers with the best possible products using developed technology standards and extensive research in the relevant fields.
IFFCO has regularly updated its plants and systems with visionary missions such as Vision 2000, Mission 2005, Vision 2010, etc. They emphasize adequate and sufficient expansion of projects. To help farmers in their agricultural jobs, IIFCO has produced many fertilizers such as urea, NPK, DAP, NP, and numerous biofertilizers. It also produces various water soluble fertilizers.
IIFCO’s production units are located in Kalol, Kandla (both in Gujrat), Phulpur, Aonla (both in Uttar Pradesh) and Paradeep (in Orissa). IIFCO’s services and business involvement are distributed globally. This society has linked itself to diversified industries and organizations based in Tokyo, Senegal, Egypt, and Oman.
IFFCO Bazar Avlaible Product
IFFCO insurance is two type
1- IFFCO Crop Insurance
2- IFFCO Tokio General Insurance
IFFCO Crop Insurance
Crop insurance is an easy way for farmers to protect themselves against financial losses due to uncertainties that can arise due to poor harvests or losses caused by unforeseen hazards that are beyond their control.
Pradhan Mantri Fasal Bima Yojana (PMFBY)
The Pradhan Mantri Basal Bima Yojana (PMFPY) was launched in 2016. It is a scheme to provide protection against financial losses faced by farmers due to various unfortunate events. Covers poor harvests due to localized risks, post-harvest losses, natural calamities, out-of-season rains, pests, crop diseases, etc.
The scheme operates under the motto “One Nation, One Crop, One Premium” and aims to provide affordable agricultural insurance to farmers in India. The goal of Pradhan Mantri Fasal Bima Yojana is to expand the penetration of crops in Insurance in India with a primary focus to cover the total area planted in the country.
PMFBY crop insurance plan coverage
The plan covers the following stages of the crop and the risks that lead to its loss:
Commodity: The scheme covers the risk of: Standing crop (from sowing to harvest): Comprehensive risk insurance is provided to cover yield losses based on the area approach due to non-preventable risks, namely . Drought, Dry Spells, Floods, Floods, Widespread Pests and Diseases, Landslides, Natural Fires, Lightning, Storms, Hailstorms and Cyclones.
Additional Coverage: In addition to the mandatory commodity, state / UT governments, in consultation with SLCCCI, may choose any or all of the following supplemental coverages based on the specific crop / area need in their state to cover the following harvest stages and the risks that lead to crop failure:
Sowing/planting risk avoided: if more than 75% of a reported growing area in an insurance unit remains unseeded, or there is a germination failure during the sowing period due to adverse weather conditions such as deficient rainfall or seasonal conditions adverse, then farmers are eligible to prevent the risk of planting failure. The lump-sum payment to farmers insured under this coverage would be 25% of the insured sum and the insurance coverage will end.
Mid-Season Adversity: Loss in case of adverse seasonal conditions during the harvest season, viz. floods, prolonged dry spells and severe droughts, etc., in which the expected yield during the season is likely to be less than 50% of the normal yield. Payment to farmers insured under this coverage would be 25% of probable claims, subject to adjustment against final claims.
Post-harvest losses: coverage is available only up to a maximum period of two weeks (14 days) from harvest, for those crops that must be dried cut and spread / in small packages in the field after harvest, against specific hazards of hailstorms, cyclones, cyclonic rains and off-season rains. The evaluation of the damages will be carried out by individual farm.
Localized calamities: Loss/damage to insured crops reported as a result of the occurrence of identified localized hazards of hail, landslide, flood, cloud explosion and natural fire due to lightning affecting isolated farms in the notified area.
The PMFBY crop insurance plan covers the following crops:
Food crops (cereals, millet, and legumes)
Annual commercial / horticultural annual crops
PMFBY schema exclusions
While Pradhan Mantri Fasal Bima Yojana provides farmers with comprehensive coverage against crop damage and loss, it has some standard exclusions. As such, this crop insurance plan excludes losses arising from:
- War and nuclear risks.
- Malicious damage.
- Other avoidable risks.
Pradhan Mantri Fasal Bima Yojana claim process
It is essential that designated farmers/agencies provide information in the event of crop loss or post-harvest losses due to localized calamities, as each claim will be assessed at the individual insured farm level. In addition, the grower must provide us with an indication of the loss within 72 hours directly to our dedicated toll-free number for crop-related inquiries: 1800-103-5490. Bullying can also be done to the insurance company, the bank concerned, the government/district officials of the local agriculture department or on the National Crop Insurance Portal.
Deadline for the evaluation of losses and presentation of the report:
Appointment of loss assessor within 48 hours of receipt of information.
The loss assessment will be completed in the next 10 days.
Settlement/payment of claims to farmers will be completed within the next 15 days (subject to receipt of premium) of the loss assessment report.
Pradhan Mantri Fasal Bima Yojana Premium Charges
The premium charge for Pradhan Mantri Fasal Bima Yojana Premium is shared equally by the farmer and the government. The farmer’s contribution to the PMFBY crop insurance premium is according to the table provided and the remaining premium is paid by the state and central government.
|S.No.||Cropping Season||Type of Crop||Max Premium Payable By Farmer (% Of Sum Insured)|
|1||Kharif||All food grain and Oilseed crops
|2.0% of SI or Actuarial rate, whichever is less
|All food grain and Oilseed crops
|1.5% of SI or Actuarial rate, whichever is less
|3||Kharif & Rabi
|Annual Commercial/Horticultural crops
|5% of SI or Actuarial rate, whichever is less
GENERAL INSURANCE IFFCO TOKYO
IFFCO-Tokio General Insurance Company Limited was established in 2000, as a joint venture between Indian Farmers Fertilizer Co-operative Limited (IFFCO), which is the largest fertilizer manufacturer in the world, and Tokio Marine Group, which is one of the largest groups insurance. in Japan. IFFCO owns 51 percent of the company and the remaining 49 percent is owned by Tokio Marine Group.
The company offers a full range of products from all lines of business, such as auto insurance, two-wheeler insurance, medical insurance, travel insurance, and home insurance, including corporate policies such as property insurance and liability insurance. . It is also the first company in India to underwrite mega-policies. The comprehensive policy is based on international rates and optimizes premium outflow for clients, even if it offers comprehensive coverage. In addition to conventional products, it also offers niche products such as Cyber Insurance, Credit Insurance, Fine Arts Insurance, P & I Insurance, Errors and Omissions Policy for the IT Sector, etc. rural initiatives focused on launching products like Sankat Haran Bima Yojana, Mahila Suraksha Bima Yojana and Janata Bima Yojana for the masses.
IFFCO-Tokyo has a wide presence in rural areas and also in Tier 2, 3 and 4 cities. It is the first private insurer to establish Bima Kendras, which are centers operated by a single person, to increase the penetration of insurance in the rural areas at the customer’s doorstep.
Iffco Tokio customer care number –
CONNECT ON: 7993407777
CALL US: 1800-103-5499
CROP INSURANCE QUERIES: 1800-103-5490
iffco tokio Siebel Login – https://sso.iffcotokio.co.in/siebel