PNB Partners With IoTechWorld Avigation To Finance Agriculture Drones

New Delhi: Punjab National Bank (PNB), a prominent public sector bank in India, has forged a significant partnership with IoTechWorld Avigation Private Limited through the signing of a Memorandum of Understanding (MoU). This collaboration aims to facilitate financing for Agriculture Drones under the Agriculture Infrastructure Fund (AIF) scheme.

During the signing ceremony, agreements were exchanged between Mr. Kuldeep Singh Rana (General Manager – Agriculture Division, PNB) and Mr. Deepak Bhardwaj (Director, IoTechWorld Avigation Private Limited), in the presence of Mr. Sunil Kumar Chugh (Chief General Manager – RAM & FI Division, PNB).

IoTechWorld Avigation Private Limited specializes in manufacturing advanced agricultural drones designed for various purposes such as spraying, broadcasting, crop health monitoring, aerial surveying for land mapping, and data collection. The incorporation of drones into agricultural operations not only optimizes resource utilization but also enhances productivity.

This MoU highlights the mutual commitment of PNB and IoTechWorld to reduce farming costs and promote the integration of an advanced drone ecosystem within the Indian agriculture sector.