[1] The award, given individually or collectively to a group, is annual in cycle and carries a plaque, a citation and a cash prize of ₹ 100,000.
[1][2] The winners are invited to deliver the Om Prakash Bhasin Memorial Lecture at a venue decided by the award committee.
[3] The corpus for the award of ₹ 5,100,000 was formed by Om Prakash Bhasin as a trust before his death.
The selection is through a notified procedure and is decided by a committee appointed for the purpose.
The incumbent committee members are:[3] Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation |2020 || Asad Ullah Khan |} Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation