By Shilpy SinhaThree years into the launch of the government’s flagship Pradhan Mantri Fasal Bima Yojana (PMFBY), aimed at providing simple and affordable crop insurance, the scheme has become the third largest in the world after the US and China. In the first year, the crop-insurance market was INR21,000 crore, going up to INR24,000 crore in 2017-18 and INR27,000
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messages about receipt of their data from banks. At the other end, insurers are adopting various technologies to monitor crop yields and damage. The government has developed an Android-based crop-insurance app, using which farmers can track the status of their application or claim, and the crop-damage report. Besides, general-insurance companies are employing drones to better manage crops and livestock.