Need suggestions as to why borewell is not pumping water

Hello,

I have a 12 year old borewell. The water pressure started decreasing last weak and the water discharge stopped altogether today. If I press the reverse valve some water comes out. If I drop a pebble I hear the sound of water after 3-4 seconds. The borewell is 350 Ft deep and the motor is suspended at 280 feet. The motor is 1 HP and 12 years old. It draws a current of 6-7 amps while running. Previously I used to hear a hum while the motor was on and now the sound is not that distinct.

Please advise

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