New Delhi: State Bank of India (SBI) and drone manufacturer Ayotech World have come together to provide agri-drones to farmers at affordable prices and low loans.
The two companies signed a pact on Tuesday. The SBI will give loans at three per cent less than the market rate to the farmers who buy agricultural drones from Ayotech World Company.
Deepak Bhardwaj, the co-founder of drone manufacturer company Ayotech World Company, said said that the SBI will provide loans at the market rate to the customers of Ayotech World Aviation without any mortgage, a three per cent concession in interest. This exemption will be given under the Agriculture Infrastructure Fund (AIF) of the Government of India.
Bhardwaj said, “Agri-drones are going to prove to be a boon for India’s agriculture sector. The loan facility provided by SBI will prove to be very helpful for those farmers who were not able to buy drones due to a lack of institutional finance facilities.
He said that Agribot Drone of Ayotec World Navigation has received India’s first DGCA Type Certification. union Aviation Minister Jyotiraditya Scindia awarded this certification to Ayotech Navigation in June 2022.
Ayotec World Navigation co-founder Anup Upadhyay said, “Drones help in the optimum use of fertilizers and pesticides in agriculture, thereby reducing the cost of farming. The use of agriculture-drone is not only helpful in increasing the yield, but also saves a lot of time. Agri-drones are going to prove to be a miracle for Indian agriculture.
It is noteworthy that Ayotec World Navigation was started in the year 2017. This company manufactures agricultural drones.
