The Malati Allen Nobel Award will be given to 50 homeopaths across India every year by a private company as a means of encouragement.
The award, instituted by the Dr. Malati Allen Charitable Trust under the healthcare company Allen Group, comprises a cash reward of Rs.10,000 along with a medal and medical kits.
The awardees would be chosen from among toppers in homeopathy medical colleges in the country. The award would be given May 27 every year.
The trust has also announced a lifetime achievement "Dr. Mahatma Hahnemann Award" , which would be conferred this year on Dr. Ramjee Singh, president, Central Council of Homeopathy.
"The central government should come forward to help homeopathy, as it is the cheapest treatment in India," said G.P. Sarkar, one of the founder directors of the group.