IIM-Calcutta to boost research and upgrade lab

Kolkata, Feb 28 (IANS) The Indian Institute of Management-Calcutta (IIM-C) plans to utilise the Rs.20 crore special budgetary grant to help students do research in global finance markets and to upgrade its financial research and trading lab.

Finance Minister Pranab Mukhejee announced the special grant to the IIM-C in the union budget he presented to the Lok Sabha Monday.

‘The money will help us upgrade our financial research and trading laboratory into a world class facility. The fund will also help students for further research in global finance markets,’ Ashok Banerjee, professor of finance and head of the lab, said Monday.

The lab was set up Nov 18, 2008, to support advanced applied research in financial markets and equip finance managers with the mathematical and conceptual theories.

‘Lot of money is required for further research in the global finance markets. So, this money will help the students to a large extent,’ Banerjee told IANS.

‘The grant will help us obtain important softwares and global market data. Right now this is going on a small scale. The special allocation will give a boost to our ugradation and research projects,’ he said.