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  • Business and Finance

Agri Insurance

Potato Crop Insurance

Salient features of this Policy 1.  Unique parametric insurance based on named perils linked to pla

Thursday, 9 June 2011 Comments

Agri Land

Agri Land

Image - Agri Land

Arable land — land under annual crops, such as cereals, cotton, other technical crops, potatoes, v

Tuesday, 1 March 2011 Comments

Agri Loans

Slew of agri, dairy sche

Image - Slew of agri, dairy sche

The Karnataka government has allocated Rs 17,857 crore for the development of agriculture, allied

Saturday, 26 February 2011 Comments

Business and Finance

Types of Insurance

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1.Motor insurance

This includes automobile, truck, motorcycle, aircraft, boat, or any other form of motorized transportation. It is perhaps the most common type of insurance, and is required by law in many countries.

Motor insurance covers the insured party against financial loss that he may incur to repair his vehicle or a third party’s in the event of an accident. In return for annual or semi-annual premiums, the insurance company is bound to pay any losses as described in the policy. Such a policy may include property, liability or third party, and medical coverage.

Property coverage insures damage to or theft of a vehicle; liability covers bodily injury or property damage that may occur as a result of the insured’s actions, and medical coverage pays any fees necessary for bodily injuries, rehabilitation and in some cases foregone wages and funeral costs.

In many countries, all of these types of automovile insurance are required of vehicle owners. In some countries, or states, only third party is required. However, in the case of new vehicles, any banks which may be financing the vehicle may require full insurance as a condition of financing.

If you have a larger vehicle, take a look at Autonet Van Insurance.

2.Health insurance

Most developed nations have government-funded health care which means that most or all citizens have access to medical facilities and treatment, as well as health insurance.

For example, the National health Service (NHS) in the United Kingdom pays for citizens’ medical needs. However, in the US, there is no government-funded health policy - whether for insurance or treatment. As a result, US citizens and residents must be insured or risk facing astronomical medical bills, garnishing of wages, and bankruptcy. Often, medical insurance (both health and dental) is included in employee benefit packages in the US and other countries. Nevertheless, the issue of affordable health insurance and treatment in the US is one of the most controversial and heated topics, as many cannot afford either. If you live in a country without comprehensive national health care, then low cost health insurance is a vital requirement.

3.Disability insurance

This form of insurance protects workers from injuries and illnesses which prevent them from doing their jobs. It can pay for existing commitments the policyholders may have such as outstanding bills, mortgages, utilities, and more.

Workers’ compensation is common in the US, and pays a worker his wages and medical expenses in the event of an injury on the job.

Permanent disability which prevents a worker from ever working again is covered by total permanent disability insurance. This provides the disabled employee with benefits for the rest of his or her life, or according to the terms specified in the policy. Companies can purchase a similar type of insurance, called,disability overhead insurance. This pays for ongoing overhead costs of a business while the owners are not able to work.

A Catastrophic Health Insurance plan, also known as a high deductible health plan, is good to have for those who prefer to pay lower monthly premiums. If your plan is eligible for a Health Savings Account, you can use those funds to pay the deductible and out-of-pocket expenses which saves you money in the long run.

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Insurance - Protect Your Yields-Not By Accident

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Insurance for fruit / vegetable crops-an essential infrastructure of investments.
Under growing the field of investments under the commercial horticulture / plantation ventures, it is of paramount importance to have a cushion for insurance for successful long term sustainance of this activity. 'The Oriental Insurance Company Limited' a subsidiary of General Insurance Corporation Of India having head quarters at New-Delhi, continuously ponder over this idea.

As a dependable insurance company for the past 50 years and as such we have customer oriented insurance covers for the following crops. 1). grape, 2). citrus (orange, lime, sweet lime), 3). chickoo (sapota), 4). pomegranate, 5). apple, 6). banana, 7). strawberry.

However we only hope for a serious and specialized insurance policy for each and every crop and in this direction out R&D cell is currently in the process of collecting required data viz., 1). life cycle of a particular crop, 2). normal threshold yield, 3). periodical records / recommended horticultural and management practices, 4). schedule of fertigation / pesticide operations, 5). 1 to 3 years data on crop cuttings / fruit or flower or vegetable yield and losses incurred by grower farmer and reasons thereof.

An insurance policy normally designed to cover an insured weather owner or tenant engaged cultivation of one or more crops or the name of an association or an organized or registered body of farms engaged in cultivation of the specified crops where such association or body has been formed and is functioning for the purpose of procurement of inputs, processing, marketing of the produce provided particulars of each member-farmer recorded in a schedule. A standard horticulture / plantation policy undertake to cover to the extent of loss or damage to the insured item occasioned by operation of any one or more of the following perils either in isolation or in concurrence;
1). Fire (including forest fire and bush fire), 2). Lightening, 3). Storm, Hailstorm, Cyclone, Typhoons, Tempest, Hurricane, Tornado whilst in direct and immediate operation over the insured area, 4). Flood and inundation (inspection report is necessary to cover these risks), 5). Riots and strikes.

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Loan scheme

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  • National Bank for Agriculture and Rural Development or NABARD(External website that opens in a new window) - is responsible for refinance disbursement to commercial banks, State cooperative banks, State cooperatives, rural development banks, Regional Rural Banks (RRBs) and other eligible financial institutions. It also sanctions money through its Rural Infrastructure Development Fund for projects covering irrigation, rural roads and bridges, health and education, soil conservation and drinking water schemes. NABARD also offers a Kisan Credit Card Scheme and crop loans under the Rashtriya Krishi Bima Yojana.
  • Banks and RRB's introduced the Kisan Credit Card Scheme of NABARD in their areas of operation. In this scheme eligible farmers are provided with a Kisan Credit Card and a passbook or card-cum-pass book. The revolving cash credit facility allows any number of withdrawals and repayments within the limit. This limit is fixed on the basis of operational land holding, cropping pattern and the scale of finance. Sub-limits may be fixed at the discretion of banks.
  • This Kisan Credit Card is valid for 3 years subject to annual review. As incentive for good performance, credit limits may be enhanced to take care of increase in costs, change in cropping pattern, etc. Each drawl should be repaid within a maximum period of 12 months. Conversion or rescheduling of loans is allowed in case of damage to crops due to natural calamities. Security, margin, rate of interest and other details are fixed according to RBI norms.
  • Bihar State Co-operative Bank Limited (BSCB)- External website that opens in a new window - Offers a range of loans and financial schemes to agriculturalists.
  • Haryana State Co-operative Apex Bank Limited (HARCOBANK)- External website that opens in a new window - The bank offers crop loans, Kisan Credit Cards, cash credit against hypothecation of stocks and interim finance by way of cash credit.
  • National Federation of State Co-operative Banks Limited (NAFSCOB)- External website that opens in a new window - This federation offers a range of agricultural loans through member State Cooperative Banks, District Central Cooperative Banks and Primary Agricultural Cooperative Societies.
  • Orissa State Co-operative Bank Limited (OSCB)- External website that opens in a new window - The bank has introduced Kisan Credit Cards in the S.T. Cooperative Credit Sector. It also organizes seminars on agri finance. OSCB has 17 Central Cooperative Banks and around 810 mini banks in different districts of Orissa.
  • Repatriates Co-operative Finance and Development Bank Limited (External website that opens in a new window)- This bank does not have any specific agricultural loan, but offers a range of financial products that can be accessed by people who wish to develop agriculture and related activities.
  • Punjab State Cooperative Agriculture Development Bank Ltd(External website that opens in a new window) - Initially, the bank only gave farmers loans to pay off old debts and purchase land. Today, the bank provides loans for various purposes like improvement of alkaline and saline lands, purchase of tractors, installing tube wells and other modern agricultural equipment. It also offers financial schemes for poultry development, dairy development, horticulture, floriculture, sheep rearing and inland fisheries.
  • Andhra Pradesh State Cooperative Bank Limited (APCOB)- External website that opens in a new window - has a loan portfolio that covers crop loans, medium term loans and long term loans for agricultural purposes. It also supports government sponsored District Rural Development Agency projects through IRDP loans and cooperative sugar factories, spinning mills, weaver's societies, employees' cooperative credit societies and other organizations. APCOB has also extended finance to apex cooperative institutions in the State such as APCO, MARKFED and GCC.


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Agricultural Economics

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Agricultural economics originally applied the principles of economics to the production of crops and livestock — a discipline known as agronomics. Agronomics was a branch of economics that specifically dealt with land usage. It focused on maximizing the crop yield while maintaining a good soil ecosystem. Throughout the 20th century the discipline expanded and the current scope of the discipline is much broader. Agricultural economics today includes a variety of applied areas, having considerable overlap with conventional economics.


Economics is the study of resource allocation under scarcity. Agronomics, or the application of economic methods to optimizing the decisions made by agricultural producers, grew to prominence around the turn of the 20th century. The field of agricultural economics can be traced out to works on land economics. Henry Charles Taylor was the greatest contributor with the establishment of the Department of Agricultural Economics at Wisconsin in 1909

Another contributor, Theodore Schultz was among the first to examine development economics as a problem related directly to agriculture.[5] Schultz was also instrumental in establishing econometrics as a tool for use in analyzing agricultural economics empirically; he noted in his landmark 1956 article that agricultural supply analysis is rooted in "shifting sand," implying that it was and is simply not being done correctly

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Land Types in India

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India has a wide range of Agricultural Land, each type being particular of a specific locality. Alluvial and black cotton soils are the two most important soil groups for agricultural production that are found in the great Indo-Gangetic Plains, in the valleys of Narmada and Tapti in Madhya Pradesh and the Cauvery in Tamil Nadu. The black cotton soils cover the States of Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Andhra Pradesh, Tamil Nadu, Uttar Pradesh and Rajasthan. These are considered good for cultivation of cotton, cereals, pulses, oil seeds, citrus fruits, vegetables, etc. In addition, Red Agricultural Land are primarily found in Tamil Nadu, Karnataka, Kerala, Maharashtra, Andhra Pradesh, Madhya Pradesh, Bihar and West Bengal. These are most suited for rice, millet, tobacco and vegetable cultivation. provides you with all information on Agricultural Land in India.


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