IOA announces Cash award for Medal winning Athlete in Rio Olympics

Indian Olympic Association (IOA) on Friday announced a cash award of 50 lakh rupees for the gold medal winning athlete in the Rio Olympics, 2016.

IOA President N Ramachandran and Secretary General Rajeev Mehta announced in Rio de Janeiro that the national Olympic body for the first time would award 50 lakh rupees for a gold medal, 30 lakh rupees for silver and 20 lakh rupees for bronze.

In addition, the coaches will be awarded an equivalent of 50 per cent of the amount that the athletes receive.

Meanwhile, Indian Railways has also announced a cash award of one crore rupees for its athlete who wins a gold medal at the Rio Olympics. In a statement, Railways said, the silver medalist will get 75 lakh rupees and bronze medal winner 50 lakh rupees.