Within how many days must an aquaculture insurance claim for shrimp culture be settled under PM-MKSSY?
- A.15 days
- B.30 days
- C.45 days
- D.60 days
Correct answer
Explanation
The correct answer is 30 days. The claim process begins when the insured farmer informs the insurance company of the peril and submits the documents the policy requires; the insurer then appoints a loss assessor, the damage is evaluated and payment is made on that report, with status updates shown on the insurer portal. The settlement has to be completed within 30 days where the crop is shrimp and within 45 days for other aquaculture activities. So 45 days is wrong for shrimp, being the window meant for the remaining activities, and aspirants often swap the two. The choice of 15 days is wrong because no such short window is laid down, and 60 days is wrong because it is longer than either limit in the scheme. Four insurers are operational at present, namely OICL, AICL, NIAL and UIIC, and private insurers are being brought on board to widen the market.
Read the full article: PM-MKSSY Bears 40% of Aquaculture Insurance Premium Cost
Practice Questions
Under PM-MKSSY, what share of the aquaculture insurance premium is given to an eligible farmer as a one-time incentive?
- A.25%
- B.40%
- C.50%
- D.75%
Show answer
Component 1-B of PM-MKSSY meets the cost barrier by paying an eligible aquaculture farmer a one-time incentive of up to 40% of the insurance premium for one crop cycle, transferred directly to the bank account through the National Fisheries Digital Platform.
Read the full explanation →India recorded a fish production of 19.8 million tonnes in 2024-25. What is its rank in world fish production?
- A.First
- B.Second
- C.Third
- D.Fourth
Show answer
India is the second largest fish producing nation in the world with a share of about 8%, and its annual production touched a record 19.8 million tonnes in 2024-25.
Read the full explanation →On which date did the Government of India approve the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)?
- A.8 February 2024
- B.10 September 2020
- C.1 April 2021
- D.15 August 2023
Show answer
The government approved PM-MKSSY on that date as a sub-scheme meant to formalise the fisheries sector and to manage the risks its farmers carry, and the aquaculture insurance push described on 28 September 2026 is its Component 1-B. Delivery runs through the National Fisheries Digital Platform so that the incentive…
Read the full explanation →Under which scheme did a Scheduled Caste student from Maharashtra receive tuition fees of 39,800 pounds for a postgraduate course at University College London?
- A.National Overseas Scholarship
- B.Top Class Education Scholarship
- C.Pre-Matric Scholarship for Scheduled Castes
- D.Babu Jagjivan Ram Chhatrawas Yojana
Show answer
In the financial year 2025-26 it met tuition fees of 39,800 pounds and a maintenance allowance of 9,900 pounds for the student in question, besides airfare, visa fees, insurance and other admissible academic expenses, and he is now reading for an MSc in Construction Economics and Management at University College…
Read the full explanation →The National Fellowship for Scheduled Caste Students (NFSC) provides which combination of support to a research scholar?
- A.Only a monthly fellowship amount
- B.Fellowship, House Rent Allowance and a contingency grant
- C.A one-time research grant and a laptop
- D.Tuition fee waiver and hostel accommodation
Show answer
These are the three components named in the account the Ministry of Social Justice and Empowerment released about a Scheduled Caste doctoral scholar from Darjeeling in West Bengal, who has drawn assistance under the scheme since November 2022 amounting to Rs 18,41,870 so far.
Read the full explanation →