Implications of leaving submersible motor in an unused borewell in Bangalore, Karnataka - Advice needed

A borewell has stopped yielding. Is it practical to leave the submersible pump in the borewell ? Or does the lack of water in the well initiate rusting of the pump and affects its performance and condition ?

I have had conflicting opinions from several sources, kindly help me find a definite answer to the same.

Regards,
Nagendra

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