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  9. Q16

ibps-so 2018 · Question 16 of 356

Under the Pradhan Mantri Fasal Bima Yojana the premium interest % paid by farmer for commercial and horticulture crop?

  1. A4%
  2. B5%Correct
  3. C8%
  4. D6%
  5. E9%

Answer: B. 5%

Explanation

Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), the premium interest paid by farmers for commercial and horticulture crops is 5%. This means that farmers are required to contribute 5% of the total premium amount, with the remaining portion subsidized by the government. This initiative aims to provide affordable crop insurance to farmers, mitigating their financial risks in case of crop failure due to various factors such as natural calamities or pests.

Source: IBPS SO AFO Mains Memory Based 2018 - CareerPower · memory-based

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