BCCI deposits Rs 1,176 cr in banks for financial year 2011-12

BCCI budgeted an overall surplus Rs 256.84 crore in 2011-12 AFP

By CricketCountry Staff

New Delhi: Jun 20, 2012

The Board of Control for Cricket in India (BCCI), has deposited a whopping Rs 1,175.86 crore in banks and earns a handsome income of Rs 97.55 crore as interest from the various fixed deposits in 2011-12.

According to a report in MSN.com, the Board has put in Rs 688.86 crore in long-term fixed deposit schemes and Rs 375 crore in short-term schemes.

Besides, it has Rs 112 crore in the savings account, according to top BCCI officials.

“The deposits worth Rs 688.86 crore have a maturity period of one year and more from the date when it was deposited and Rs 375 crore has been parked in short term deposits, with a maturity period between seven and 45 days,” a top official said.

The Indian cricket board has budgeted an overall surplus Rs 256.84 crore in 2011-12.

Media rights is expected to fetch Rs 437.5 crore, Rs 209.94 crore from the IPL, which was played in April-May 2011, and Rs 193.16 crore from Tests, One-day Internationals and Twenty20 Internationals played till March 31.

The income from the 2011 World Cup, which finished on April 2 with India winning the trophy, will be included in the 2012-13 financial year accounts on the auditors’ advice.