Announcing this at an Official Send-off event organised by ONGC, ONGC Chairman and Managing Director Sudhir Vasudeva said that this applies to not only ONGC Olympians, but to all Indian Olympians.
"ONGC would give Rs 15 lakh for Silver and Rs 10 lakh for Bronze medals," he said.
Talking about the support extended by ONGC to Indian sports, Vasudeva said that ONGC employees make up for one-fifth of the 81-member Olympics Contingent, which is the largest among Indian corporates.
This is the biggest Indian Contingent (81 members) that has qualified for the Olympics. ONGC is sending the largest contingent of 16 players to the London Olympics 2012 -- 13 players for the main London Olympics 2012 and three for Paralympics, a company statement said.
ONGC has, on its rolls, 185 sportspersons, 63 of them are current international level achievers, while 64 are past internationals and the remaining are national level achievers.
Among the international level achievers both past and present includes 17 National Awardees (one Khel Ratna, two Padma Shri, 14 Arjun Awardees).