Television

TV production temporarily impacted by cursed Rs 500-1000 notes

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/11/10/Narendra-Modi-800x800.jpg?itok=_scVfiY3

MUMBAI: In what may be called a Herculean step, PM Narendra Modi banned Rs. 500 and Rs. 1000 notes as of midnight intervening 8 and 9 November. His live television broadcast came as a surprise to millions of unassuming Indians and the world at large, to say the least.

Once understanding of the gravity of his announcement hit, throngs rushed to the ATMs, super markets, and chemist shops in a bid to rid themselves of the cursed notes which were to transform into waste paper overnight. In fact, retail shopping giant Big Bazaar, luxe watch chain Ethos, among many others seized this opportunity and allowed shoppers in till midnight, rightly expecting a rush. Petrol stations saw long queues even as late as the night of 9 November as desperate Indians tried to shed their 500 and 1000 notes. Foreign tourists despaired about the dud notes they had in their possession, as they neither hold bank account or post office accounts; the only currency they had was useless to them.

By demonetizing Rs 500 and Rs 1000 notes, Modi has taken a bold stance to curb the raging black money menace and counterfeit currency that has been gnawing at the country’s economy for decades. The speed at which everything had transpired was astonishing, and many netizens lauded the move on social media.

While this historic move is expected to contribute greatly towards nation-building, the transition phase will not be smooth. With banks shut for another day, ATMs dysfunctional temporarily until new legit denominations are restored in the banking system, life is proving tough for the public, to put it mildly. Different sectors have braced up for the varied impact this decision will bring, including the Indian television production industry.

“For production houses like us, there are certain requirements for action props -- flowers, food items, etc, which we usually buy in cash. Moreover, everyone's travel and other conveyance compensation are also paid in cash. Not to mention the daily labour and daily-wage workers that a shoot employs… so yes, this ban has definitely created an a problem, especially with the banks shut,” explains Sol Production’s Fazila Allana.

“Our ongoing shooting in Delhi for the show 'Small Money Big Makeover' which airs on FYI is currently stuck. It requires us to go out and buy stuff from the local market, and with today’s cash crunch situation, that is difficult,” she adds.

Allana isn't hindered by that, however, as she strongly believes that it is only temporary. “In the long term, I believe it is good for the industry. “A lot of these union workers often used to insist on cash payments, but now this sector can be regulated more effectively.”

Asked if any of the long-running daily shows would be affected by this temporary turmoil, Allana reassured that it was highly unlikely. “Mega serials, as they are often called, will be the least affected as their shoots and contracts with artistes etc mostly operate on a monthly basis. They might be slightly inconvenienced by the sudden prop requirements, but that is all.”

Allana, however, expressed concern over the lack of clarity on the upper limits of withdrawal for companies and the corporate, as it will be next to impossible to function if the cap for company usage is also Rs 2000 per day.

BBC Worldwide India SVP & GM Myleeta Aga has welcomed the Prime Minister’s bold move calling it " good to happen" to our industry.

“There will be inconvenience, but we should all manage the inconvenience. It won’t stop our work. We mostly function with partners with whom we have long-term associations. They too understand the current situation, and are cooperating accordingly. We can use credit notes and the right available denominations for the next few days. As long as they are providing a legit service and are being paid in a legit way, there is nothing to worry about,” she adds.

“The industry simply needs to be mindful while making cash payments in these two to three days,” says the optimistic CEO of The Contiloe Entertainment, Abhimanyu Singh.

Asked if the TV industry will be majorly affected by this crackdown on black money hoarders, Singh says, “I don't think the TV industry has something to worry about, most of our accounts are clean and every transaction is accounted for.”

“In the short run, businesses will have to compromise with the change but I have faith the government has thought this out, and will effectively take action to normalise the situation. I don't believe the prime minister would want businesses to shut down,” Singh added.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/times.jpg?itok=A9ctmwZB
TRP scam: Times Network to take legal action against BARC

L'affaire TV ratings continues. In yet another sudden turn in the TRP manipulation case, the Times Network is gearing up to take legal action against the Broadcast Audience Research Council (BARC) for allegedly colluding with Republic TV to misreport viewership ratings and giving the channel "undue...

Television TV Channels Viewership
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/republic.jpg?itok=uLV0POyu
Republic Media to run exclusive series on Indian armed forces ‘India’s Braves’ around Repubic Day

MUMBAI: As India gears up for the celebration of its 72nd Republic Day, Republic Media Network has lined up an exclusive broadcast series from the valley of Kashmir. Republic Media Network's senior consulting editor - strategic affairs major Gaurav Arya (retd.) is all set to take viewers across the...

Television TV Channels News Broadcasting
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/od.jpg?itok=HdTxb6Uz
Odisha leaps ahead with India’s first Women’s T20 tournament

BHUBANESHWAR: With the resumption of live sports in the country, Indians are lining up for a shot of cricket. And what better way to energise the nation in these Covid times than with the most dynamic and exhilarating format of the game – the T20. Leading the way in this direction is the inaugural...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/sare.jpg?itok=jmQawFZl
Saregama PAT triples in third quarter of FY 2021

BENGALURU: Indian music label and movie studio Saregama India Ltd (Saregama) reported more than 200 per cent (201.5 per cent) Y-o-Y (year-on-year) growth in consolidated net profit after tax (PAT) for the quarter ended 31 December 2020 (Q3 2021, quarter or period under review) as compared to the...

Television TV Channels Music and Youth
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/isl.jpg?itok=8guOnyQh
Hero ISL sees uptick in viewership, fans keep the momentum high

MUMBAI : Cricket is indeed big in India. Globally, however, it’s football and football all the way, and the willow game has a long way to go before it catches up with it.  In India, in times of Coronavirus and cricket, soccer has been holding its own, especially with the seventh India Super League...

Television TV Channels Sports
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/zulfia-waris.jpg?itok=FZpcNLvH
All set for launch, ABP Studios to tell balanced stories beyond black & white

It was in July last year that what used to be known as the ABP News Network rechristened itself as ABP Network, and started on a journey to go “beyond news” and disrupt the ever-growing content-ecosphere with new capabilities.

Television Production House Fiction
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/21/iftpc_0.jpg?itok=WXxL3wzT
Vidnet 2021: UK-based production body PACT partners with IFTPC

The Indian film & TV industry is counted among the entertainment powerhouses of the world. The Indian filmmakers, artistes, behind-the-camera personages who have been feted internationally are beyond count, as are the movies and series that left an indelible mark on our society and culture.

Television Production House Post Production
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/21/farx.jpg?itok=AktI9NNs
Enterr10 Network’s Bhojpuri Cinema celebrates Republic Day with 'Farz'

MUMBAI: On the occasion of Republic Day, Bhojpuri Cinema is all set to entertain their audiences with a full packed and romance movie with the World television premiere of Bhojiwood’s biggest hits Farz on 26 January at 7 pm followed by repeat telecast on Wednesday, 27 January at 10 am. Bhojpuri...

Television TV Channels Regional
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/21/dabang.jpg?itok=J6hWshDW
Cartoon Network gets Cosmos-Maya’s Dabangg cartoon show

MUMBAI: Iconic cop Chulbul Pandey is coming to the small screen in an animated avatar with the quirky and exciting new cartoon called Dabangg - The Animated Series. Produced by Cosmos-Maya, the show is an extension of the highly successful Bollywood film franchise and will debut on WarnerMedia’s...

Television TV Channels Kids

Sign up for our Newsletter

subscribe for latest stories

* indicates required