Page 382 - Misc Ebook IC 78

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by co-operatives or commercial banks sponsored by
National bank for agriculture and rural development
(NABARD).

The policy indemnifies the insured to the extent of the
cost of all civil constructions less the cost of pumping
equipment and their accessories, or the sum insured,
whichever is less, if the well fails yield specified quantity
of water.

The proposal form, countersigned by the bank has
to be accompanied by:
(i) Site plan of place of land on which the well is to be

dug, the site selection to be done by a qualified
hydrologist/geophysicist.
(ii) Permission of the local Municipal Authority.
(iii) A group policy may be issued to the bank covering
a number of farmers, provided, the required details
are supplied for each well.

Failure of well is determined with reference to prescribed
parameters and certified by the district or block
certifying agency constituted by the State government.

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