Om Prakash Bhasin Awards have been instituted by Shri Om Prakash Bhasin Foundation, a New Delhi-based charitable organization founded by Vinod Bhasin, along with her two sons, Shivy Bhasin and Hemant Kumar Bhasin, to honour the memory of her husband, Om Prakash Bhasin, a non resident Indian businessman. The corpus for the award of ₹ 5,100,000 was formed by Om Prakash Bhasin as a trust before his death. The awards, started in 1985, are given in five categories. The selection is through a notified procedure and is decided by a committee appointed for the purpose. The committee includes the Chairman of the foundation, two trustees representing the foundation, a member of the scientific community and a representative of the State Bank of India, the bankers to the foundation. The incumbent committee members are: