Bank loan

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

close

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.

Check out the latest DH videos

Check out the latest DH videos

Get a digest of the day’s top stories delivered to your inbox

We use cookies to understand how you use our site and to improve the user experience. This includes personalization of content and advertising. By continuing to use our site, you agree to our use of cookies, Revised Privacy Policy.

Learn more I agree X