Good News for Indian Farmers-Agriculture Drones Available at Low Interest Rate

There is good reason for farmers of the country to rejoice now. The drone manufacturer IoTechWorld and the State Bank of India are coming together to provide agri-drones to farmers at affordable prices and low loans. On Tuesday, the two companies signed a pact. The State Bank of India will give loans at three per cent less than the market rate to Indian farmers, who want to buy agricultural drones from IoTechWorld Company.

There is good reason for farmers of the country to rejoice. The drone manufacturer IoTechWorld and the State Bank of India are coming together to provide agri-drones to farmers at affordable prices and low loans. On Tuesday, the two companies signed a pact. The State Bank of India will give loans at three per cent less than the market rate to Indian farmers, who want to buy agricultural drones from IoTechWorld Company.

The co-founder of the drone manufacturer company Deepak Bhardwaj said that the SBI will offer loans at the market rate to the buyers of IoTechWorld Aviation without any mortgage with a 3 per cent concession in interest. HS reported that this exemption will be given under the Agriculture Infrastructure Fund of the GOI.

Deepak Bhardwaj said, “Agri-drones are going to be a blessing for India’s agriculture sector. The loan facility provided by the State Bank of India will prove to be very helpful for those farmers who were not able to buy drones due to a lack of institutional finance facilities.”

The Co-Founder of the company also said that “Agribot Drone” of IoTechWorld Navigation has received India’s first DGCA “Type Certification”. Union Aviation Minister Jyotiraditya Scindia granted this certification to IoTechWorld Navigation in June 2022.

IoTechWorld Navigation co-founder Anup Upadhyay said drones help in the minimum use of fertilizers and pesticides in farming, thereby reducing the cost. The agriculture-drones are not only helpful in increasing productivity but also is time efficient. Agri-drones are going to be a boon for Indian agriculture. The Gurugram-based drone company IoTechWorld Navigation was started in the year 2017. This company manufactures agricultural drones for helping farmers increase their farm yield.

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