The Board of Control for Cricket in India (BCCI) today decided to introduce an inter-corporate prize money tournament to be conducted in 50-over and Twenty20 formats to encourage business houses to recruit cricketers into their fold and improve the players` employment opportunities. The winners of the proposed inter-corporate tournament would be richer by Rs 1 crore, the runners-up would get Rs 50 lakh and the losing semi-finalists Rs 25 lakh each as per a decision taken by the BCCI`s all-powerful Working Committee at Mumbai today. BCCI`s joint secretary and former member of the National selection panel, Sanjay Jagdale, was chosen as the chairman of the new committee formed to oversee the conduct of the inter-corporate tournament. The other members are: K S Viswanathan, Prof R S Shetty, Chamundeshwaranath, Ranjib Biswal and Anirudh Choudhary, BCCI secretary N Srinivasan said in a press release.