Chennai’s drone startup Garuda Aerospace has partnered with the Union Bank of India with 150 Garuda Agri Kisan drones receiving sanction for a loan under the Kisan Pushpak Scheme. The drone loan will help farmers to digitise land record operations for crop production, and spraying of fertilisers, chemicals and pesticides, with the help of drones. The partnership will be useful for lead generation, customer acquisition, sourcing of applications, and due diligence of customers for credit deployment, says a release.
The Agri Infrastructure Fund Scheme will finance 150 drone applications that will benefit the farmer community and create 150 skilled pilots who will engage to become entrepreneurs and improve farmers income, the release said.
Agnishwar Jayaprakash, Founder and CEO Garuda Aerospace, said as Union Bank of India has a pan-India presence and a wide network of branches the partnership will help to provide farmer-centric products in the field of agriculture.
Garuda Aerospace has started training 1 lakh youth free of cost and is targeting to sell 5,000 drones before March 31, the release said.