Bank loan

Maharashtra farmer applies for Rs 6.6 crore bank loan to buy helicopter, says farming is unaffordable


Maharashtra farmer applies for bank loan to buy helicopter

Erratic rainfall and drought conditions have made farming unaffordable over the years, he said.

Representative image.  Credit: iStock Photo

Citing that farming had become unaffordable, a 22-year-old farmer from Hingoli, Maharashtra applied for a bank loan of over Rs 6 crore to buy a helicopter and rent it out. Kailas Patange, a resident of Taktoda village in the district, approached a bank in Goregaon on Thursday with his loan request.

Patange, who owns two acres of land, said erratic rainfall and drought conditions had made farming unaffordable over the years.

“I have grown soybeans on my land for the past two years. But it didn’t bring me good returns due to off-season rains. Even the crop insurance money was not enough,” Patange said. Considering these factors, Patange came up with the idea of ​​buying a helicopter and renting it out to earn a good living. Speaking to PTI, Patange said:

“Who says only grown-ups should have big dreams? Farmers must also dream big. I applied for a loan of Rs 6.65 crore to buy a helicopter. There is a lot of competition in other businesses, so I decided to go for it.

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