Mumbai: Hingoli farmer applies for Rs 6.6 crore loan to buy helicopter

Kailas Patange, a resident of Taktoda village in the district, approached a bank in Goregaon with his loan application.

AgenciesUpdated: Saturday, June 18, 2022, 10:04 AM IST
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Citing that farming had become unaffordable, a 22-year old cultivator from Hingoli district has applied for a bank loan of over Rs 6 crore to purchase a helicopter and rent it out.

Kailas Patange, a resident of Taktoda village in the district, approached a bank in Goregaon with his loan application. Patange, who owns two acres of land, said irregular rainfall and drought-like conditions made farming unaffordable over the years.

“I cultivated soybean on my land over the last two years. But it didn't fetch me good returns due to unseasonal rains. Even the money from crop insurance wasn't enough,” Patange said.

Considering these factors, Patange chanced upon the idea of buying a helicopter and renting it out to make a good living. Patange said, “Who says only big people should have big dreams? Farmers should also dream big. I have applied for a loan of Rs 6.65 crore to purchase a helicopter. There is a lot of competition in other businesses, so I decided to go for this.”

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