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IBF’s credit control operations expands Southern chapter
MUMBAI: The Indian Broadcasting Foundation (IBF) has started a southern chapter for its credit and collections function covering Tamil Nadu, Andhra Pradesh and Karnataka.
Going by the milestones achieved by the existing Kerala credit control committee, the IBF felt an urgency to reduce the outstanding of member channels in the three southern states, which have a cumulative advertising business of approximately Rs 10,000 crore.
The IBF said that, other than scrutinising, regulating and evaluating the credit worthiness of advertisers and agencies in the region, the southern chapter will also play a pivotal role in dispute resolution between channels and agencies/advertisers through arbitration and dialogue.
Welcoming the initiative, member broadcasters pledged their support to improve the collections and cash flows and to instil fiscal discipline and sensitize advertisers and agencies to the importance of making timely payments, the IBF said.
Speaking with the media, IBF secretary-general Girish Srivastava said, “In keeping with the best practices globally for discussions and clarifications on revenue mechanisms, the IBF intends to come out not only with other chapters in the country but also create sustainable cash flow for the broadcasting fraternity. There is complete readiness on the part of the IBF to take this initiative to the next level.”