Union Bank Signs Agreement with Dhaksha Unmanned Systems for Kisan Drone Finance

Dhaksha Unmanned Systems Pvt Ltd, based in Chennai, manufactures technologically advanced drones for a variety of sectors including agriculture, defence, surveillance, logistics, and surveying. Dhaksha's Agrigator drone (DH-AG-H1) is the only Type Certified Petrol engine-based Hybrid drone that eliminates the need for battery charging.

According to Dhaksha's Director & CEO Ramanathan Narayanan, Dhaksha drones' advanced technology provides their customers with world-class UAV solutions and unrivalled support.

Dare Ventures (Coromandel's venture capital arm) recently invested in the firm, boosting its growth. The MoU, according to Dhaksha's CMO Kannan M, will provide much-needed growth and agility for Kisan drone adoption by Indian farmers.

Under the terms of the agreement, Dhaksha's dealer network will refer prospective customers to Union Banks across the country. As drone spraying grows in popularity among Indian farmers, this MoU will assist customers in obtaining financing to purchase Dhaksha's Petrol engine powered Agri spraying drones.

Union Bank's 8500 branches across the country will offer Drone loans. Kisan drones aid farmers in the safe and efficient application of nutrients and crop protection chemicals. The Ministries of Agriculture and Fertilizer are providing various forms of assistance to the drone eco system in order to raise awareness and adoption.

“With this MoU, Union bank intends to provide hassle-free drone financing option to prospective buyers. Agripreneurs /Farmers can also avail the interest subvention provide under AIF scheme / subsidy schemes under SMAM” said B. Sreenivasa Rao, General Manager-Agri business vertical.

The bank has launched the "Union Kisan Pushpak Scheme" to fund Kisan drones for digitalization of land records and crop production operations such as fertiliser spraying, crop protection chemicals, and so on.