1. Endowments shall not be operated in the name of a living Fellow.

    These endowments will be used to create a medal or lecture award or for a named travel fellowships.

2. The minimum endowment amount acceptable shall be Rs.10 lakhs.

3. The endowment amount shall be invested by the Academy to earn maximum interest.

4. 10% of the income accruing from the endowment fund shall be credited to INSA fund for recovering some of the administrative expenses involved in administering the award.

5. The scope of the award should be as broad as possible and should not be restricted to specific subdivision of science.

6. The award will be made once in three years.

7. No award will be established in the name of a non-scientist.

8. The award may consist of a cash prize and a bronze medal. The recipient may also be paid TA/DA for journeys performed for delivering the award lecture. Expenditure on TA/DA shall be charged to the income from endowment fund. The venue of the award lecture shall be decided by the Council.

9. In addition to establishing an endowment lecture/medal, the Council will also accept endowments to establish Young Scientists Travel Award for supporting young researchers to attend International conferences/workshops/training programmes or for them to undertake a visit for collaborative work connected with their research project within the country or abroad.

10. The selection and other conditions of the award shall be governed by the regulations as may be framed by the Council.

11. Council of the Academy will have a right to amend any regulation concerning operation of the endowment and of the award.