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Haryana farmer secures first AIF loan to purchase DGCA-approved drone ‘Agribot’

agribot, Iotechworld, iotechworld avigation, AIF, agriculture infrastructure fund, agriculture infrastructure fund scheme, AIF scheme,

Agribot: A farmer from Haryana’s Karnal district has managed to secure a loan under the government’s Agriculture Infrastructure Fund Scheme introduced in July this year to procure a drone with an intent to improve the level of his infrastructure.

The news comes at a time when the government is introducing policies regarding drone technology and endorsing the usage of drones in farming.

This loan has been sanctioned by the Union Bank of India to purchase the drone named ‘Agribot’ manufactured by the IoTechWorld Avigation — the first drone approved by the Directorate General of Civil Aviation (DGCA). The step would indeed encourage other industry partners to come forward for the wellness of farmers.

Agriculture Infrastructure Fund Scheme (AIF Scheme) was launched with an aim to provide financial assistance to farmers so that they can improve the level of agriculture and adopt various measures that could help them in increasing their revenue.

Also read: IoTechWorld Avigation to conduct Drone Yatra to convey message of change in agriculture

Under the scheme, a farmer can get an amount of upto 90% of the price of a drone with an interest rate of 9 per cent. Apart from this, an interest subvention of 3% is also being given over the loan. The interest subvention is the amount that the government provides as a grant for any special cause to the borrower.

Any person who is anyhow engaged in farming can get a loan of upto Rs 2 crore for a maximum time period of seven years. Any person or organisation that possesses ‘Kisan Credit Card’ will be given priority. However, having a pilot licence is mandatory to avail the benefits of this scheme.

Meanwhile, Aviation Minister Jyotiraditya Scindia has granted the first type certificate under the new drone rules, which was issued on August 25 last year, to IoTechWorld Avigation.

“Under the Drone Rules 2021, a type certificate is issued for specific type of unmanned aircraft system (drone) by the Directorate General of Civil Aviation (DGCA) on the recommendation of the Quality Council of India (QCI) or an authorised testing entity,” the aviation ministry said on Twitter.

“Aviation Minister Jyotiraditya Scindia awarded the first type certificate under Drone Rules, 2021, to Anoop Upadhyay, Director and Co-founder, IoTechWorld Avigation Pvt Ltd today in presence of senior officials from the aviation ministry, the DGCA, the Airports Authority of India, QCI etc,” it said.

During the 60s, the invention of the tractor proved a milestone in the field of technology as well as agriculture and revolutionised the world of farming. Similarly, the use of drones in agriculture is expected to set new records. It not only helps farmers in sprinkling pesticides and fertiliser but saves time and money as well along with boosting the production.

Apart from Union Bank of India, State Bank of India and Bank of India are also offering this loan.

Scientists believe that the drone revolution would bring broad changes in agriculture as well as uplifting the lifestyle of farmers. IoTechWorld Avigation’s co-founders Deepak Bhardwaj and Anoop Upadhyay said that AIF is a very positive step towards the wellness of agriculture and farmers. We hope that other banks would soon come forward to offer these types of loans and a drone revolution would come in the country.

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