General Insurance Corporation of India
The National Agricultural Insurance Scheme (NAIS) was initially implemented by the General Insurance Corporation of India (GIC) before being transferred to the Agriculture Insurance Company of India Ltd in 2003. GIC was established in 1972 as a holding company for the four public sector general insurance companies in India. NAIS aimed to provide financial support to farmers in case of crop failure due to natural calamities, pests, or diseases, promoting agricultural stability.
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