The IMC Ladies' Wing, under the presidentship of Mrs. Kiran Bajaj, instituted an award in 1993 to recognise women entrepreneurs who work for the progress of rural India. These accomplished women are honoured with an award named after Jankideviji Bajaj, who strongly advocated the emancipation of women and envisioned them as agents of progress.
The Jankidevi Bajaj Puraskar for Rural Entrepreneurship was instituted to commemorate Jankideviji’s birth centenary and includes a cash prize of Rs. 5,00,000, a citation and a certificate. The corpus for this award is funded by Bajaj Electricals Ltd. Every year, the winners are felicitated at a ceremonial event.