Idbi To Okay Film Loans By Month-End

The Industrial Development Bank of India (IDBI) has constituted a panel of 10 to 12 members from the film industry to assist and advise the term-lending institution on the bankability of film projects that come for funding. IDBI executive director R S Agarwal said: "Our intention is to show progress by sanctioning a few proposals by the end of this month".

The panel includes film directors, producers, seasoned actors, and directors of film labs and music companies. The IDBI panel for film financing, chaired by Agarwal, met on Monday to discuss a few proposals that have come up for funding.

"We have sought their advise on the bankability of the projects from the lender's point of view," said Agarwal. The expert panel will help IDBI view the technical, financial and commercial aspects of the films that have come for funding.

In the first meeting, five film industry members were present to discuss four proposals each ranging around Rs 5 to 10 crore. "It is necessary to have the entire panel present at each meeting. We will invite some of the panel members depending on the requirement," said Agarwal.