Started in 1995, the IMC Ramkrishna Bajaj National Quality Award enjoys the stature of being one of India's most prestigious quality awards. The eponymous award symbolizes the values of the man who ardently promoted the importance of quality and ethics in our economic and social development. The award was instituted with the objectives of:
The criteria and the process of training and evaluation for this award are as rigorous as those of the Malcolm Baldrige awards of USA. All applicant organisations are given a detailed feedback report which forms the basis of mapping the quality journey of the organisation.
Initially, the award judged only the manufacturing sector. Later, its scope was increased to cover six categories, namely manufacturing, service, small business, overseas business, education and health care. The award is funded and managed by the IMC Ramkrishna Bajaj National Quality Trust, which is formed especially for this purpose.