PULA’s Post

This is excellent. However, take up can be very low if sellers of cattle fear being hit with taxes. Either, large cash payment will have to banned at the point of stick (which is easier for plots, cars than cattle because with the former a Govt can deny transfer of ownership rights and issuance of proof of ownership). Or we will have to create a 5 to 10 year plan like India where you first incentivize digitally documenting the economy (the carrot) before bringing out the stick (expanding the tax net to relieve burden on salaried class). The more positive aspect is that Pakistan's Digital Payment infrastructure is much more advanced (thanks largely to RAAST-funded by Karandaaz Pakistan with financial support from the incredible Bill & Melinda Gates Foundation-and the general advance in Internet, Mobile Data and Smartphone Infrastructure globally) than it was in India when they first began demonetizing large notes. If the right will, motivation exists in the upper echelons of Pakistan Government, we could formalize 30-40% of our economy within 1 to 2 years.

𝗜𝗻𝘀𝘂𝗿𝗲𝗿𝘀 𝘁𝗼 𝗣𝗮𝘆 𝟭𝟮% 𝗣𝗲𝗻𝗮𝗹𝘁𝘆 𝗳𝗼𝗿 𝗗𝗲𝗹𝗮𝘆𝗲𝗱 𝗙𝗮𝘀𝗮𝗹 𝗕𝗶𝗺𝗮 𝗦𝗲𝘁𝘁𝗹𝗲𝗺𝗲𝗻𝘁𝘀 Insurance companies must now pay a 12% penalty to farmers for delayed claim settlements under the Pradhan Mantri Fasal Bima Yojana (PMFBY). Agriculture Minister Shivraj Singh Chouhan highlighted that delays are often due to states' late premium subsidy payments. PMFBY has paid farmers claims worth ₹1.63 trillion since its 2016 launch, with enrollment reaching a record 39.7 million in FY24. The scheme covers 61 million hectares, marking a 21% increase from the previous year. #finance #news #AgricultureInsurance #PMFBY #FarmersWelfare Source:- https://lnkd.in/dTsQTRnV

How many types of KCC loans are there? Kisaan Credit Card (KCC) credit to the farmers is of two types, viz., 1. Cash Credit (for working capital) and 2. Term Credit (for capital expenditure such as the purchase of cattle, pump sets, land development, plantation, drip irrigations, etc. What is the interest subsidy for KCC? A The interest subvention @2% and prompt repayment incentive benefit @3% on KCC loan (i.e. crop loan+ working capital loan for animal husbandry and fisheries) will be available on an overall limit of Rs. 3 lakh per annum and subject to a maximum limit of Rs. What is the limit of KCC in SBI? The loan amount that is sanctioned by State Bank of India is five times the yearly farm income or 50% of the mortgaged land value, which has been submitted as collateral security. Depending on whichever is lesser, the maximum amount sanctioned will be Rs. 10 lakhs. How much is NPA provision? For all NPA accounts provisioning should be made on amounts outstanding less amount of interest/other charges debited not recovered by the year end. 4. The country based risk provision ranging from 0.25 % to 100 % to be made. Can interest be charged on NPA account? Interest realised on NPAs may be taken to income account provided the credits in the accounts towards interest are not out of fresh/additional credit facilities sanctioned to the borrower concerned.

Celebrating the 5th National Insurance Day in Bangladesh, the op-ed highlights the pivotal role of microinsurance in fostering the development of agriculture sector of the country. With focus on climate-induced vulnerabilities, microinsurance emerges as a crucial financial risk mitigation tools for the smallholder farmers and MSMEs involved in agriculture.Microinsurance empowers farmers to confidently invest in agricultural activities, breaking the vicious cycle of low investment- low returns that perpetuates poverty, thus enabling them to surpass the poverty threshold. Learn more in the published op-ed on The Financial Express,facilitated by Bangladesh Microinsurance Market Development Programme (BMMDP). #Nationalinsuranceday #agriculture #BMMDP #Swissconatct #Bangladesh

Insurance empowers African farmers! It provides a safety net against losses, helps secure loans for growth, and promotes stability in the agricultural sector. Kenya Re's Agri Reinsurance solutions offer stability for a flourishing future. We provide comprehensive coverage against weather perils, market fluctuations, and more. Learn how we can empower your agribusiness: https://buff.ly/3TXnxCP #KenyaRe #AgriReinsurance #FoodSecurity #ProtectOurFarmers #FoodSecurity #WeatherTheStorm

Introducing Cashless Cattle Markets: A Secure and Convenient Way to Make Eidul Adha Purchases. With Raast QR payments, you can simply scan and pay for your purchases, making transactions quick and easy. #RAAST #konnectbyhbl #Eiduladha2024 #payments #qrpayment

The shift of Kenyan farmers from #formalcredit to #informalcredit sources is a huge setback in #financialinclusivity efforts and it undermines the progress made in #agriculturalfinancing over the years. This latest move from #formalcredit could hinder the sector's growth and development. It is therefore critical to address these #barriers if we have to sustain the gains already made in #agriculturalfinancing. https://lnkd.in/dn8n7-nA

What Factors Drive Transformation in the #CropInsurance Market? The crop insurance market is witnessing a significant transformation fueled by digital innovations like #satelliteimaging and #dataanalytics, enhancing risk assessment capabilities. Government subsidies further bolster this trend by incentivizing farmer involvement and ensuring agricultural income stability. These combined factors drive the market's growth, fostering resilience and efficiency within the #agriculturalsector. Key Players : AGRICULTURE INSURANCE COMPANY OF INDIA LIMITED , American Financial Group,Chubb, Fairfax Financial Holdings Limited, ICICI Lombard , PICC, QBE Insurance , Sompo , Tokio Marine Seguradora , Zurich Insurance. Want To Know More:https://lnkd.in/dQM5bqGD #AMR #CropInsuranceTransformation #DigitalInnovationsInAgriculture #GovernmentSupportForFarmers

"Grape Farmer died at sangli" Farmer died as the harvest was lost bcz of unexpected rains and had debt of 2.5lakh rupees. What I felt? - Now we have tech to geospatially locate the farms. - We can identify the health of crop - We can predict the rains at the earliest - We need to integrate this info to banks for providing agri loans to aspiring farmers. - We need to provide this data for insurance companies to provide crop insurance . This is wr it is challenge to both insurance and banks to validate a farmer bcz of lack of data. What's your thoughts? How can we safeguard the interest of farmers? SatSure Cropin GreenPod Labs PRAKYATH SHETTY #agritech #bank #insurance

𝗔𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗧𝗶𝗽 𝗞𝗻𝗼𝘄𝗶𝗻𝗴 𝘁𝗵𝗲 𝘁𝘆𝗽𝗲 𝗼𝗳 𝗰𝗿𝗼𝗽 𝘁𝗼 𝗯𝗲 𝗶𝗻𝘀𝘂𝗿𝗲𝗱 This is key because each crop has its own unique risk characteristics that speak to the perils that you want it covered for. For example, whilst both Tobacco and Maize are susceptible to hail damage, Tobacco will be rated highly as the commercial value of Tobacco is on the leaves which are directly impacted by hail. Visit https://loom.ly/kDY9Bzo for more. #Agriculture #Insurance #HereForYou #Klaptonre