The department of statistics, University College of Science, Osmania University received a gold medal from the CR Rao Institute of Statistics during as part of its golden jubilee celebrations held on Thursday .
The CR Rao Institute handed OU vice-chancellor S Ramachandram a cheque of `5 lakh. At a press meet, Ramachandram said the amount would be used to award toppers from the department of statistics every year. "We will deposit the amount in the bank. The awards will be given out in the convocation to be held this year," he said.
The CR Rao Institute and OU have also decided to sign a memorandum of understanding to promote research in applied statistics. The CR Rao Institute director Dr Yugandhar said that the statistics department should offer diploma courses and certificate courses for students' benefit.