Champions Trophy: BCCI Announces Cash Prize of Rs.1 Crore Each to Players

The BCCI on Monday announced monetary incentives for the members of the Indian cricket team including the support staff for winning the ICC Champions Trophy.

Each player in the team will be awarded a cash prize of Rs.one crore while the each member of the support staff will be richer by Rs.30 lakh, according to a BCCI media release.

India clinched the ICC Champions Trophy, in its last edition, with a nerve-wracking five-run victory over hosts England in a rain-hit final, giving their captain Mahendra Singh Dhoni the unique record of being the first captain to win three world titles.

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After frustrating showers reduced the contest to a T20 affair, India first scored 129 for seven and then restricted England to 124 for eight in a topsy-turvy game that went down to the wire. Ravindra Jadeja (33 no and 2/24) made another all-round contribution which proved to be telling in the context of the match.

UBS To Shut India Banking Unit

Swiss Bank UBS AG is winding up its banking business in India as part of its global strategy of accelerating its exit from what it describes as "capital intensive business". The group will continue to be present in India as an investment bank which will house its corporate client service business.

Although UBS had a full-fledged banking licence in India, its focus was on wealth management clients providing forex, fixed income and credit services through its single branch in Mumbai.

UBS was in the news last year when its India chief Manish Girotra, who had been face of the bank for more than a decade, put in her papers. Girotra was replaced by Aashish Kamath, who heads India operations.

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According to data provided by RBI in its "profile of banks", UBS profit was Rs 312 crore in FY12 and Rs 579 crore in FY11.

The bank had a capital base of close to Rs 2,000 crore as on end-March 2012, including reserves and surplus. It had deposits of Rs 631 crore as on end March 2012 and investments of Rs 3,796 crore and advances of Rs 685 crore.