MUMBAI: The Mumbai Cricket Affiliation (MCA) will create a Rs 500 cr corpus for grassroots cricket over the subsequent decade, with maidan golf equipment, faculties and schools set to learn from the curiosity generated by the fund.
The choice was taken on the MCA’s 87th AGM on the Wankhede Stadium on Friday. “For grassroots cricket, we now have determined to allocate a corpus fund of Rs 500 cr, which was Rs 6 cr, then Rs 10 cr, then Rs 12 cr within the final three years. Within the final AGM, we elevated it to Rs 100 cr,” MCA president Ajinkya Naik mentioned.
Naik added: “It’s like an endowment fund. You retain this ₹500 cr in a hard and fast deposit and from that the curiosity will get distributed. Proper now, it’s Rs 100 cr, so yearly it’s going to go up by ₹40 cr, after which within the subsequent 10 years it will likely be Rs 500cr.”
The MCA additionally determined to call designated lounges on the Wankhede after Madhav Mantri, Sachin Tendulkar and Ajinkya Rahane.
