The Charak Award is named after Charak, the famous Indian physician of Vedic times. Charak is to Indian Medicine what Sushruta is to Indian Surgery. He composed Charak Samhita, a compendium of medicine in the First century CE, that is still being used in India. He described various diseases and attempted a systematic classification which incorporated etiology, nosology, prognosis and methods of prevention.

Charak Samhita describes in detail signs and symptoms of Insanity and attempts to offer an etiologic explanation of the disorder. Many experts consider this a milestone in the evolution of the discipline of Psychiatry.

Charak's advice to his students was:

"Not for self, not for the fulfillment of any earthly desire of gain, but solely for the good of suffering humanity should you treat your patient, and so excel all".