Punjab National Bank (PNB) has recently partnered with IoTechWorld Avigation for financing Agriculture Drones under Agriculture Infrastructure Fund (AIF) scheme, the bank notified via a statement.
A Memorandum of Understanding (MoU) was signed between Kuldeep Singh Rana, General Manager – Agriculture Division, PNB and Deepak Bhardwaj, Director, IoTechWorld Avigation, in the presence of Sunil Kumar Chugh, Chief General Manager – RAM & FI Division, PNB.
According to the statement, IoTechWorld Avigation manufactures advanced agricultural drones used for agricultural spraying, broadcasting, crop health monitoring, aerial survey for land mapping and data collection.
The MoU underscores the joint commitment of the bank and IoTechWorld to reduce farming costs and integrate an advanced drone ecosystem in the Indian agriculture sector, the statement concluded.
