The Business Bytes
TBB BUREAU
NEW DELHI, FEB 23, 2024
Punjab National Bank (PNB) has announced a significant partnership with IoTechWorld Avigation Private Limited through the signing of a Memorandum of Understanding (MoU) to finance Agriculture Drones under the Agriculture Infrastructure Fund (AIF) scheme.
The signing ceremony, which took place on Friday, marked the exchange of agreements between PNB’s General Manager of the Agriculture Division, Kuldeep Singh Rana, and the Director of IoTechWorld Avigation Private Limited, Deepak Bhardwaj.
This MoU highlights the joint commitment of PNB and IoTechWorld to reduce farming costs and introduce an advanced drone ecosystem in the Indian agriculture sector.
IoTechWorld Avigation Private Limited is a manufacturer of cutting-edge agricultural drones designed for various agricultural applications such as spraying, broadcasting, crop health monitoring, aerial surveying for land mapping, and data collection. The integration of drones into agricultural operations not only optimizes resource utilization but also enhances productivity.
