Badminton Association of India President Dr Akhilesh Das Gupta announced a reward of Rs 50 lakh for P V Sindhu after she won a historic silver medal at the Rio Olympics on Friday.
The BAI also announced a Rs 10 lakh award for Dronacharya awardee Pullella Gopichand, Sindhu's coach.
The world No. 10 lost to Spain's Carolina Marin 21-19, 12-21, 15-21 in the thrilling final at Riocentro, in Rio de Janeiro.
The Hyderabad girl won India's first silver medal in badminton.
Saina Nehwal won the first medal – a bronze – for India in badminton at the 2012 London Olympics.
Praising Sindhu's efforts, Dr Das Gupta said, "I congratulate her for this historical achievement and bringing laurels for India. This is a huge milestone in Indian badminton fraternity and it shows the strength of Indian badminton at the world stage.
"This silver medal will surely motivate lakhs of children to take up the sport and inspire them perform above their ability. On behalf of BAI and the Indian badminton fraternity, I am congratulating her again for the marvelous achievement.
"I also congratulate coach P Gopichand, who again took India to new heights. Padma Bhushan Gopichand brought many laurels in his playing days and now his players are achieving new feats. The Indian badminton fraternity is very lucky to have a coach and mentor like him," he added.
Sindhu is the first woman shuttler to reach final in badminton at the Olympics.
She is also the fourth Indian to win a silver at the Olympics, after shooters Rajyavardhan Singh Rathore (2004, Athens) and Vijay Kumar (2012, London) and wrestler Sushil Kumar (2012, London).
The two-time World Championships bronze medallist is also the fifth woman from India to win a medal at the Olympics and the first to clinch a silver.
Weightlifter Karnam Malleshwari (2000, Sydney), boxer M C Mary Kom (2012, London), shuttler Saina Nehwal (2012, London) and wrestler Sakshi Malik (Rio, 2016) are the other Indian women to win a medal at the Olympics.
