In view of the objectives of the Indian Mathematical Society and to promote Mathematics at different levels, The Society has instituted various Prizes. These prizes are given in the Annual Session of the IMS every year.
1. Prizes for Best Research Paper Presentation during Annual Conference
In order to encourage and inspire young researchers, the Society has instituted Eight Prizes for various categories to be awarded to the best research paper presented in a special Session during its Annual Conferences. Each of these Prizes carries a Certificate and a momento. The winners of the prizes will be announced during the valedictory function of the Annual Conference.
The details of these Prizes and the related research areas are as follows:

IMS Prize Group1: Discrete Mathematics (Combinatorics, Graph Theory, Posets), Lattice Theory, Set Theory, Logic, Number Theory and related areas.

IMS Prize Group2: Geometry, Algebraic Geometry, Topology, Algebraic Topology, and related areas.

IMS Prize Group3: Measure Theory, Probability Theory, Stochastic Processes, and related areas.

IMS Prize Group4: Differential / Integral / Functional equations and inequalities, Special Functions, Numerical Analysis and related areas.

IMS Prize Group5: Solid Mechanics, Fluid Mechanics, Electromagnetic Theory, Magneto Hydrodynamics, Astronomy, Astrophysics, Relativity and related areas.

IMS Prize Group6: Operations Research, Optimization, Computational Mathematics, Information Technology, Bio mathematics, History of Mathematics and related areas.

AMU Prize: Algebra, Differential Geometry and Functional Analysis.

V. M. Shah Prize: Real Analysis, Complex Analysis, Fourier Analysis, Harmonic Analysis, Approximation Theory and related areas.
Terms and Conditions for the applicants to participate for These Prizes:
 Only the Members of the Society are eligible for participation in the Competition.
 Recipient of a Prize in a certain category in previous years is not expected to apply in the same category in the following years. If such application is found, then it will not be considered.
 (i) The paper to be presented for competition should be under the authorship of at most two authors and at least one of them should be below the age of 40 years as on 31st December of the year of the Annual Conference. The younger author will present the work in the Competition session.
 (ii) The author should give a declaration that the work is unpublished and has not been submitted for any competition elsewhere. In case of research scholars, the supervisor(s) should verify that the work has been carried out independently.
 The work must have been carried out in India.
Modus operandi:
 The General Secretary will invite applications from interested researchers. The applications along with the full length paper (in pdf), Abstract (not more than 250 words, in latex and pdf format), Age proof and CV should reach Academic Secretary by August 15 of the year in which the Annual Conference is to be held.
 The applicants will make presentations before a panel of judges as appointed by the Council of the Society. The panel of judges recommend the Best Paper in each category of Prizes.
 If there is no suitable paper for a Prize category in a year then the Prize for that category may not be given in that year.
 The decision of the IMS shall be final and shall not be challenged in a court of law.
2. A. Narasinga Rao Memorial Prize
The Society instituted this Prize in the honour of Professor A Narasinga Rao who was the founder Editor of The Mathematics Student and worked with great devotion for eighteen years from 1933 to 1950. The A. Narasinga Rao Memorial Prize is given in the Annual Conference of the Society for the best paper published either in The Journal of the Indian Mathematical Society or in The Mathematics Student. Only the papers published in the year previous to the year of the Annual Conference will be considered. The Prize carries a Certificate and Cash prize of Rs. 4000/.
Terms and Conditions:
(a) The papers published in either The Journal of the Indian
Mathematics Society or in The Mathematics Student only will be considered.
(b) The paper should have been published during the previous year to the year of Annual Conference in which Prize is to be conferred e.g. for the Prize to be given in the Annual Conference of the year 2020, the papers published in 2019 will be considered.
(c) The paper should be under the authorship of at most two authors and
both the authors should be below the age of 45 years on the date of submission of the paper to either of the periodicals.
(d) In the case of joint authorship of the awarded paper, the prize amount will be equally divided between the two authors.
(e) The author(s) should be Indian citizen and must have carried out the said research work in India.
(f) The awardee (the younger one in case of joint authorship) will be invited to deliver a lecture based on the awarded paper in the Annual Conference of the IMS and s/he will be reimbursed TA to the extent of 2AC return train fare from his/her place of residence in India to the venue of the Conference
(subject to availability of funds). The awardee will also be provided free local hospitality during the period of conference by the host institute.
Modus operandi:
(i) Every year the General Secretary will constitute a Committee consisting of Academic Secretary (Convenor),
EditorinChief, The Journal of the Indian Mathematical Society and
EditorinChief, The Mathematics Student to recommend Paper for the Prize.
(ii) The Committee will consider all the eligible papers published in the two Periodicals of the Society and make its recommendations by June 30 every year. If required, the Committee can consult some experts for their opinion.
(iii) The decision of the IMS shall be final and shall not be challenged in a court of law.
(iv) If there is no suitable paper in a particular year then the Prize need not be given in that year.
3. P. L. Bhatnagar Memorial Prize
The P. L. Bhatnagar Memorial Prize was instituted in 1987 by the Indian Mathematical Society to inspire and encourage the participants at the Mathematical Olympiads. Prof. P. L. Bhatnagar ( 8 August 1912  5 October 1976) was a past President of IMS and had done pioneering work in organizing Olympiads in the country, hence the Society instituted this prize in his memory. The top scorer(s) from the Indian Team at the International Mathematical Olympiad is/are recognized every year and the Prize is given during inaugural function of the Annual Conference of the Indian Mathematical Society. It is a matter of pride for the society that Subhash Ajit Khot, who received this prize in 1995 is currently Professor at the Courant Institute of Mathematical Sciences and was recipient of Rolf Nevanlinna Prize in 2014 and was elected FRS in 2017.
The award winners are reimbursed 2AC travel by train from their
residence in India to the venue of the Conference (subject to
availability of funds) and free accommodation and hospitality, if they
attend the Conference.