Dhanush film draws bank funding

The Indian Overseas Bank (IOB) has extended a loan of Rs.20 million to Roja Combines, a leading Tamil film production company, to make its next film.

The loan, for a six-month period, is being offered at 13.75 percent interest. Private financiers charge as much as 20 percent.

The film will star Dhanush, a box-office favourite. And the title is the first line of the most popular song from the film that made him famous - "Kaadhal Konden".

The IOB has also funded two Bharathiraja films.

Industry sources said the deal with Roja Combines is expected to send out yet another signal to filmmakers in the south that public sector banks and financial institutions are willing to fund film projects.