1. Periodicity: All Academy Medals/Prizes/Lectures will be awarded once in three years.

2. Eligibility: A person shall not be eligible for more than two awards excluding the General Medals, International Medals and Medals related to Young Scientists. The selection for General Medals which are given for outstanding contributions in any branch of science coming within the purview of the Academy, may be made from distinguished scientists in recognition of their service to the Academy or to science. The selection for Subjectwise Medals/Lectures should be made from persons who have made outstanding contributions to the discipline of science for which the awards are allocated. The awards shall normally be given to Fellows. In exceptional circumstances, and in certain areas where nominees are likely to be from a broader base, they may be awarded to non-Fellows.

3. Presentation of award and delivery of lecture : The presentation of the award will be made to each recipient after he/she delivers the award lecture. The lecture will be arranged under the aegis of INSA Local Chapter unless otherwise stated. The summary of the award lecture will be included in INSA News and the full text in Proceedings of the Academy. TA/DA will be paid to the Awardee for delivering the award Lecture.

4. Specification of the Medal: The specifications of the Medal (Copper Medal, Gold/Silver plated or the Bronze medal as the case may be) will be as follows:

GUIDELINES FOR ACCEPTING ENDOWMENTS
FOR INSTITUTING AWARDS

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. Ten 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.