The BCCI is set to officially announce the funding of the five disciplines of the Olympic sports by the end of this month, and would restrict its help only to individual sports to start with.
Its Chief Administrative Officer (CAO) Prof Ratnakar Shetty said the BCCI and the Sports Ministry are in talks and the modalities are being worked to ensure effective disbursement of funds and proper accountability.
''We will be forming a committee to ensure effective disbursement of funds to the federations for player development and also regarding accountability so that the money is not misused,'' Shetty said.
However, the Board at present would not be aiding team sports like hockey or football and would concentrate only on individual sports.
The Board has tied-up with the Sports Ministry to sponsor the development of sports persons in the areas of archery, boxing, judo, swimming and weightlifting.
The Board and the Ministry have also set aside Rs 25 crore each for these sports for identifying talents and medal hopefuls for the Commonwealth Games to be held in New Delhi in 2010 and also for the next Olympics in 2012 at London.