Garuda Aerospace and Union Bank Collaborate to Boost Agriculture with Drones
1. Who has Chennai’s drone startup Garuda Aerospace partnered with?
Answer: Garuda Aerospace has partnered with the Union Bank of India.
2. How many Garuda Agri Kisan drones have received a loan under the Kisan Pushpak Scheme?
Answer: 150 Garuda Agri Kisan drones have received a loan under the Kisan Pushpak Scheme.
3. What will the drone loan help farmers to do?
Answer: The drone loan will help farmers to digitize land record operations for crop production and spraying of fertilizers, chemicals, and pesticides with the help of drones.
4. What will the partnership be useful for?
Answer: The partnership will be useful for lead generation, customer acquisition, sourcing of applications, and due diligence of customers for credit deployment.
5. How will the Agri Infrastructure Fund Scheme benefit farmers?
Answer: 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.
6. How will the partnership with Union Bank of India benefit Garuda Aerospace?
Answer: The partnership with Union Bank of India, which has a pan-India presence and a wide network of branches, will help Garuda Aerospace provide farmer-centric products in the field of agriculture.
7. How many youth is Garuda Aerospace training free of cost?
Answer: Garuda Aerospace is training 1 lakh youth free of cost.
8. What is Garuda Aerospace’s target for drone sales before March 31st?
Answer: Garuda Aerospace is targeting to sell 5,000 drones before March 31st.
9. How much are the AIF Loans for the drones?
Answer: The AIF Loans are collateral-free and can secure up to Rs.10 lakhs with 3 months of EMI relaxation and a 5% interest rate for the youth and farmers.
10. How much can a youth earn per month by using the drone loan?
Answer: A youth can earn around Rs.75,000 to Rs.1 lakh per month by using the drone loan.