MAM
Exim Bank agrees to lend Crest $7 million
MUMBAI: Export-Import Bank of India (Exim Bank) is for the first time funding an animation film project. It has agreed to lend $7 million to Crest Animation Studios Ltd.
While $5 million will be to fund Crest Animation’s Indian outfit, Exim Bank is willing to sanction another $2 million in the US subsidiary company, RichCrest Animation.
In August 2005, Crest Animation, through its US arm RichCrest Animation, and the independent studio, Lions Gate Entertainment, had signed a deal worth around $70m for the co-production of three animated feature films. It was decided that both companies will have a 50:50 equity in the project, expected to pan out over five years.
“This will be our first financing for an animation movie project. We have agreed to fund Crest Animation Studios as well as its wholly owned subsidiary company in the US. Crest has tied up with Lions Gate Entertainment which is a leading distributor in the world. Besides, the company has a completion bond in place,” Exim Bank general manager Mathew John tells Indiantelevision.com.
Of the three movie projects with Lions Gate Entertainment, the first to kick off is Sylvester and the Magic Pebble which is based on the Caldecott medal-winning story by William Steig, the creator of the blockbuster Shrek. The pre-production work on the movie is near completion, and the production plan is as per schedule for 2008 release.
“Our funding to Crest will be for the first movie,” says John.
Crest is looking at a mix of debt and equity to fund the film projects. Crest’s contribution for these three projects would be around $30 million.
Exim Bank has been funding Hindi movie projects which have a potential to earn foreign currency revenues in the overseas market. It has financed nine movies so far to the tune of Rs 580 million. This includes Rs 400 million to noted filmmaker Yash Chopra for movies like Veer Zaara, Hum Tum, Bunty Aur Babli and Dum.
“We have also lent Rs 100 million for Don and Rs 80 million for Mangal Pandey – The Rising,” says John.
Brands
33 per cent of women believe the salary scale is rigged: Naukri report
Voices @ Work study finds rising calls for equal pay audits and lingering bias
MUMBAI: Progress may be visible in India’s workplaces, but many women still feel the need to tread carefully. A new report by Naukri reveals that one in two women hesitate to disclose marriage or maternity plans during job interviews, worried that such information could influence hiring decisions.
The findings come from the second edition of Naukri’s annual Voices @ Work International Women’s Day report, titled “What Women Professionals Want.” Drawing insights from more than 50,000 women across over 50 industries, the survey sheds light on evolving workplace aspirations alongside the biases that continue to hold women back.
One of the report’s most striking insights is the growing demand for equal pay audits. The share of women calling for regular pay parity checks has climbed to 27 per cent this year, up from 19 per cent a year ago. The demand now stands alongside menstrual leave as the most sought after workplace policy.
Interestingly, the call for pay transparency grows louder higher up the income ladder. Nearly half of women earning between Rs 50 lakh and Rs 1 crore annually say equal pay audits are a priority, suggesting that pay gaps become more visible as women move up the career ladder.
At the same time, confidence and ambition appear to be rising. About 83 per cent of women say they feel encouraged to pursue leadership roles, a significant jump from 66 per cent last year. Cities in southern India appear particularly supportive, with Hyderabad leading the way as 86 per cent of respondents there reported encouragement to step into leadership positions. The education sector recorded the highest sense of encouragement at 87 per cent.
Yet the report also highlights a growing trust deficit around pay equity. Nearly one in three women, or 33 per cent, say they do not believe men and women are paid equally at their workplace. That figure has risen from 25 per cent last year, pointing to widening perceptions of disparity as careers progress.
Bias in hiring and promotions continues to be the biggest hurdle. About 42 per cent of respondents say workplace bias is the main challenge for women from diverse backgrounds. The concern is consistent across major metros, with Chennai and Delhi NCR reporting similar levels.
Reluctance to discuss personal milestones during hiring processes is also widespread. While 34 per cent overall said they hesitate to share marriage or maternity plans in interviews, the anxiety increases with experience. Among professionals with 10 to 15 years of work experience, the figure rises to 40 per cent.
Info Edge group CMO Sumeet Singh, said the data reflects both progress and unfinished work. “Behind every data point in this report is a woman who is ambitious. The fact that 83 per cent feel encouraged to lead is something to celebrate. However, the fact that one in two still hide their marriage or maternity plans in interviews tells us the work is far from done. As India’s leading career platform, it felt not just important but necessary for us to shine a light on these gaps through the second edition of our report,” he said.
The report suggests that while ambition among women professionals is growing, structural changes around pay transparency, fair hiring and supportive policies will be key if workplaces hope to keep pace.
