New Delhi, Jun 10 (PTI) The All India Chess Federation (AICF) will conduct an International Open Rapid Chess tournament in New Delhi on June 19 ahead of an Olympic-style torch relay that will be organised in build up to the Chess Olympiad.

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The one-day event will offer a prize pool of Rs 10 lakh.

The winner will take home a cash award of Rs 1 lakh while the second and third-placed players will win Rs 60,000 and Rs 40,000 respectively. The tournament will also have 20 cash prizes in five rating categories.

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Earlier this week, the International Chess Federation (FIDE) introduced a torch relay ahead of the Chess Olympiad, scheduled in Mahabalipuram from July 28 to August 10.

"It's time for celebration of this huge honour (torch relay) and it can't be done in a better way than inviting players across all age groups and the chess community together at one platform.

"We look forward to a great response from players for this tournament," said AICF Secretary and Olympiad Director Chauhan.

Coming as a huge pride for the country, FIDE also named India, a land the sport originated from, as the starting flame point for the Torch Relay in every Olympiad.

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