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Bank finance for film industry okayed

In a bid to provide easy finance for making good films the government on Thursday declared the industry as 'concerns' under the IDBI Act to enable bank funding.

A notification in this regard was issued by the finance ministry on Wednesday immediately after Information and Broadcasting Minister Sushma Swaraj announced at the Economic Editor's Conference that this step was being taken to help the industry get easy finance from banks for making good films.

There is a direct correlation between good cinema and good money, she added.

On piracy of films, she said government was determined to check the menace and has also sought co-operation from the state governments in the endeavour.

She said government would especially monitor the situation after the recent amendment to the Cable TV Network Act barring cable operators from showing pirated films.

Swaraj said the government would keep an eye on the scenario after the release of Bollywood films Mohabbatein and Mission Kashmir scheduled for October 27.

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