 He was awarded the Karnataka Rajyotsava Award in 1998.He was the recipient of 'State Award' from the Government of Karnataka in 1998 for his contribution in education, and recipient of the highest honour award of Rotary International for Rotarians "Service Above self Award" for 2001–02.Ramesh Pai hailed from a family of Bankers, his father Upendra Anantha Pai founded Syndicate Bank.