Agriculture Current Affair 11 August 2020

BigHaat raises $2.2 million from Beyond Next Ventures, Rockstud Capital

Online agri-input vendor BigHaat has raised $2.2 million in pre-series A funding led by Japanese investor Beyond Next Ventures and Rockstud Capital. Existing investor Ankur Capital and angel investors also participated in the latest round.

BigHaat will deploy the capital to strengthen its data and technology platform, hiring best talent in technology and marketing, and strengthening its supply chain to fuel aggressive growth, said Sateesh Nukala, CEO, BigHaat.

BigHaat is targeting engaging with over 10 million farmers across India over the next 24 months.

Telangana sanctions ₹1,173 crore for Rythu Bima

The Telangana government has released ₹1,173.54 crore towards premium for the Rythu Bima insurance scheme.

The amount will be paid to Life Insurance Corporation (LIC), which has been managing the scheme ever since it was launched two years ago.

As many as 32.73 lakh farmers aged between 18 and 59 years are eligible for the scheme. The kin of a deceased farmer will get ₹5 lakh each under the scheme.

As many as 32,267 families have benefited so far in the last two years. They received an aggregate ₹1,613.35 crore in insurance claims, Telangana Agriculture Minister S Niranjan Reddy has said.

The scheme will be in force from August 14, 2020, to August 13, 2021.

Crop Insurance: Gujarat exits PMFBY, launches State-funded scheme for Kharif 2020

Gujarat is the latest State to exit the Pradhan Mantri Fasal Bima Yojana (PMFBY) – an ambitious crop insurance scheme citing exorbitantly high premium cost to the State.

State Chief Minister Vijay Rupani on Monday launched an alternate State-funded scheme – Mukhya Mantri Kisan Sahay Yojana covering all farmers under a crop insurance for the current kharif season.