To promote academic excellence among the students, the following awards have been instituted.

1. SETH BALKRISHAN MEMORIAL Annual Gold-Medal by the Institute for the Student of B.I.T. having a position in the merit list of the University- Final Year Examination and securing highest marks (all branches taken together).
2. An annual scholarship of Rs 2,500/- awarded by the Institute for Students of B.I.T. securing highest marks in B.E. 2^nd , 4^th and 6^th Semester Examinations ( all branches taken together).
3. SARDAR INDER SINGH JABBAL Gold-Medal donated by Dr. (Mrs.) Vineeta Nayak and Dr. R.A. Nayak, to be awarded to B.I.T. topper in Civil Engineering in B.E. (Final Year) University examination.
4. NAVEEN NAIR MEMORIAL Gold-Medal donated by Dr. M.N. Nair, to be awarded to the B.I.T. topper in Electronics & Telecommunication Engineering in the B.E. (Final Year) University Examination.
5. EXCEL Gold-Medal instituted by the management, awarded to BIT toppers in different branches of B.E., MBA, MCA, ME, MTech courses at the Final Year University Examination.
6.  Neeladri Guha Memorial Gold Medal donated by Shri Subhendra Guha, awarded to the BIT topper in MBA at the final year University Examination
7. BIT Alumni Cash Award

The awards and medals are given away on 26^th of January every year on the occasion of celebration of REPUBLIC DAY.