All India Chess Federation announces hike in prize money

Both, open and for women in the National championships will witness a huge growth in the prize fund.

A massive hike of ₹76 lakh has been announced in the prize money for the National chess championships, beginning from 2022. This has occurred after the signing of the All India Chess Federation with MPL Sports of ₹1 crore for the title sponsorship. Every player, right from the under-8 to the seniors will have an advantage because of this.

Both, open and for women in the national championship will witness a huge growth in the prize-fund of ₹10 lakh each. Other than this, the national juniors will receive the second biggest hike of ₹7.50 lakh and the national sub-juniors of ₹6.50 lakh.

Kanpur will have the National championship that will have ₹30-lakh, whilst the ₹25-lakh National women championship will be hosted at Bheemavaram from February 9.

Two round-robin events have been added for women that will offer ₹10 lakh each. This event will take place in Tamil Nadu and Goa from June 30 and August 12 respectively.

All India Chess Federation has also proposed 13 International Opens across the country. This will have minimum prize money fixed at ₹15 lakh each, the cumulative prize fund is likely to go into a few crore.

AICF secretary Bharat Singh Chauhan stated that it’s the board’s goal to raise the profile of chess in the country.

“We have decided to help the financial health of host associations of the Nationals to keep 75% of the entry-free collection and the rest will come to the AICF. Earlier, it was shared equally. Further, the Earnest Money Deposit (EMD), submitted by all host associations to AICF, is now refundable. Earlier, this deposit was non-refundable,” Chauhan said.

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