The government has incorporated provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY). <br />''<br />''<br />''According to the new guidelines, the farmers will be paid 12 per cent interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date. <br />''<br />''<br />''State Governments will have to pay 12 per cent interest for the delay in the release of the State share of subsidy beyond three months of prescribed cut-off date submission of requisition by insurance companies. <br />''<br />''<br />''Agriculture Ministry in a release said, the new operational guidelines come at the onset of the rabi season, which starts from 1st of October. <br />''<br />''<br />''The Ministry said, this crucial provision is part of the new operational guidelines issued by the government for the implementation of PMFBY. <br />''<br />''<br />''The Government has also decided to include perennial horticultural crops under the ambit of PMFBY on a pilot basis. <br />''<br />''<br />''<span style="color: #222222;">The scheme, as per the new operational guidelines provides add-on coverage for crop loss due to the attack of wild animals, which will be implemented on a pilot basis. </span><br />