The Parallel Risk Management (prism) project won the Skoch Challenger Award for innovative ICT initiatives, 2004.
Awarded honorary Certified Financial Planner (CFP) by the Association of Financial Planners (AFP), 2004.
Outstanding paper award for Moonis and Shah (2002) at Vth Capital Markets Conference at UTI ICM, December 2001. [pdf]
Outstanding paper award for Sarma, Thomas and Shah (1999) at IIIrd Capital Markets Conference at UTI ICM, December 1999. [pdf]
All-University Pre-doctoral Merit Fellowship at USC (1987-1990).
National Talent Search Scholarship, 1981.