PNB Partners with IoTechWorld Avigation Private Limited to Finance Agriculture Drones
28 February 2024, New Delhi: Punjab National Bank (PNB) has entered into a partnership with IoTechWorld Avigation Private Limited by signing a Memorandum of Understanding (MoU) for financing Agriculture Drones under the Agriculture Infrastructure Fund (AIF) scheme.
The signing ceremony had an exchange of agreements between Kuldeep Singh Rana, PNB General Manager – Agriculture Division, and Deepak Bhardwaj, Director – IoTechWorld Avigation Private Limited in the presence of Sunil Kumar Chugh, PNB Chief General Manager – RAM & FI Division.
IoTechWorld Avigation Private Limited is a manufacturer of agricultural drones used for agricultural spraying, broadcasting, crop health monitoring, aerial surveys for land mapping, and data collection. The integration of drones in agriculture operations not only optimizes resource utilization but also improves productivity.
This 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.
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