The Indian Institute of Management-Calcutta (IIM-C) plans to utilize 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 Mukherjee announced the special grant to the IIM-C in the union budget he presented to the Lok Sabha on 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 on Monday. The lab was set up on November 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 the sources. “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 upgradation and research projects,” he said.