Beijing: Prime Minister Atal Behari Vajpayee on June 23 inaugurated a Centre for Indian Studies at the Peking University and pledged Rs 50 lakh for a five-year period towards its running costs.

Announcing this while addressing the University teaching staff, he said his government was prepared to depute two faculty members from India to the Centre.

An amount of Rs 10 lakh will be given annually for the first five years to meet its running expenses, he said.

The Prime Minister said his government could fund an annual scholarship at an appropriate institute in India for a student of this Centre.

He also announced an annual prize of a three-week visit to India for the first-ranked student of the Centre, christening it as the Tan Yun Shan Award in memory of that modern-day pioneer of India-China cultural understanding.

Professor Tan had been sent to Shantiniketan many decades ago and it was he who inspired Tagore to set up the famous "Cheena Bhavan" in Vishwa Bharati University, recalled Vajpayee who is its Chancellor.

PTI