JK Bank to launch Fruit Insurance Scheme in Kashmir

Jammu, Jan 8 (UNI) In a bid to boost the fruit production, the country's largest non-nationalised Jammu and Kashmir Bank Ltd will launch a Fruit Insurance Scheme in the state from March 2008, official sources said today.

''Under the scheme, fruit produce of every loanee orchadist will be covered under insurance cover against risk of draught, hailstorm and market fluctuation,'' the sources said, adding that the bank has collaborated with the country's leading insurance companies to launch the scheme.

According to the JK Bank Chairman Haseeb Drabu, the proposed insurance scheme will automatically cover the horticulture produce of an orchardist acquiring loan, as the insurance scheme is in built component of the credit facility.

UNI VJ SBA AS2028