[icernet] IDBI film financing book tops Rs 97 Cr

[Arul Selvan MIC]

IDBI was the first institution to provide film finance after the sector
was declared an industry in October 2000. The move has helped the
industry to get loans at the rate of Rs 16 per cent per annum. The
conservative approach adopted by banks and financial institutions
earlier had been forcing film producers to depend on underworld dons for
financing at rates ranging from 36 per cent to 48 per cent per annum.
The Reserve Bank of India has stipulated that the quantum of assistance
to the film industry should not exceed 50 per cent of the budgeted cost
of a project.

Source:
http://www.financialexpress.com/fe_full_story.php?content_id=23574