BAI also announced a reward of Rs. 10 lakhs for Dronacharya awardee coach Pullella Gopichand who trained Sindhu to achieve this feat.
The World No. 10 lost to Spain's Carolina Marin by 21-19, 12-21, 15-21 in the thrilling final match held at Riocentro. This is India's first silver Medal in Badminton.
Saina Nehwal won the first medal - Bronze - for India in badminton in 2012 London Olympics.
"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 Indian Badminton fraternity, I am congratulating her again for marvellous 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. Indian Badminton fraternity is very lucky to have a coach and mentor like him," he added.
Sindhu became 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 championship bronze medallist also became the fifth woman player from India to win a medal in Olympics and the first to clinch a silver.
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Among the other sporting associations in the country, the All India Football Federation (AIFF) has announced a cash award of Rs 5 lakh for Sindhu.
