Bank of India (BoI) has set aside a corpus of Rs 50 crore for financing film production, thereby being the first commercial bank to get into the sector. Financial institution IDBI is the only other entity to have a film financing plan. The bank will undertake financing film projects of only corporate film entities.
The announcement was made bank chairman K V Krishnamurthy at the valedictory session of Frames 2002, the two-day global convention on the business of entertainment organised by Ficci, which began on March 15, 2002 here.
While making the announcement, Krishnamurthy stressed the need for the film industry to
