Some of its member units have not submitted the required documents but the Indian Olympic Association (IOA) is likely to release the financial grants due to them in view of the difficulties arising out of the COVID-19 pandemic.
IOA president Narinder Batra said the National Sports Federations (NSFs) and the State Olympic Associations (SOAs) will have to furnish an undertaking that they will submit the documents in due course.
“IOA has been providing financial assistance/grant to its affiliated NSF’s and SOA’s for the year 2018 -19 and has so far released funds to those members that have submitted the required documents,” Batra said in a statement.
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“It has been observed that quite a few NSF’s/SOA’s have yet not submitted their required documents for releasing the grant. As the whole country is in lock-down due to the outbreak of COVID-19, in IOA we understand that the submission of the required documents will take time from your end,” he added.
Batra said considering it is the financial year-end he would seek “approval of IOA EC, chair and members Finance Committee, Secretary General, Treasurer to consider for releasing the grant subject to submission of an undertaking given by concerned member to fulfil the norms for receiving the financial assistance/grant for the said year.”
The IOA began giving out financial assistance to the NSFs and SOAs in 2015, handing them ₹3 lakh each, but later increased to ₹6 lakh as the sponsorship revenue increased.