IOA announces cash award of 50 lakh rupees for gold medal winning athlete in Rio Olympics

Indian Olympic Association (IOA) has announced a cash award of 50 lakh rupees for the gold medal winning athlete in the Rio Olympics. The announcement has been made by the IOA President and Secretary General in Rio de Janeiro that the national Olympic body for the first time will 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 % of the amount that the athletes receive.

Apart from IOC, Indian Railways has also announced a cash award of 1 crore rupees for its athlete who wins a gold medal at the Rio Olympics. As 35 athletes from Indian Railways are taking parts in the event. In a statement, Railways said, the silver medallist will get 75 lakh rupees and bronze medal winner 50 lakh rupees. For the athletes who manages a top-8 finish, the reward will be 30 lakh rupees and for mere participation 5 lakh rupees. 

So let’s discuss some questions related to this post:
1. Name the association which has announced the cash award of 50 lakh rupees for the gold medal winning athlete in Rio Olympics?
2. How much amount of cash award has been announced by the Indian Railway for its athlete who wins a gold medal at the Rio Olympics?


Courtesy: PTI News






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