As a part of this association, two highest awards will be presented annually to IIM Nagpur students to honour academic achievement. They are the G.H. Raisoni Gold Medal and the G.H. Raisoni Merit Award which comes with ₹5.00 lakh.

In front of high-ranking representatives from both schools Prof. Bhimaraya Metri who is the Director of IIM Nagpur and Sunil Raisoni the Chairperson of Raisoni Education Group also signed the Memorandum of Understanding.

Prof. Metri underlined that the collaboration will encourage students and further consolidate the culture of merit-based honour. He further stated that the initiative provides support for IIM Nagpur's vision of emerging as a future-focused management institute and is aligned with the vision of the National Education Policy.

Sunil Raisoni welcomed the collaboration referring to it as a mutual step toward promoting quality education and motivating excellent students.

Prominent members of IIM Nagpur's faculty and administration including Academic Dean Prof. Prashant Gupta, Executive Education Dean Prof. Alok Kumar Singh, Research & Ph.D. Dean Prof. Sujeet Sharma, CAO Lt. Col. M.V. Alur and Lead Officer Mr. Dnyaneshwar Gudadhe attended the ceremony. The honoured guests from the Raisoni Education Group that attended the MoU signing ceremony include Dr. Amina Vali, Dr. Mragna Gupta, Dr. Meena Rajesh, Dr. A. Paturkar, Dr. Vivek Kapur, Dr. Sachin Untawale and Dr. Aarti Deshpande.