To encourage the students of proven merit the college instituted two goldmedals in 1997 (synchronizing with the golden jubilee celebrations of India's Independence) in memory of the late Justice Sri Gopalrao Ekboty, to be awarded annually, one each in B.Sc., and B.Com., to the students of the college, who passed in 1 attempt, securing the highest percentage of marks in Optionals in the university examinations (Combined result of three Years). The first presentation was made to the eligible students of 1997 – 98 batch.