This fellowship in music in honour of Dr. M. S. Subbulakshmi was set up in the year 2015 coinciding with the commencement of the Centenary of Dr. M. S. Subbulakshmi. It was informally started on a modest scale in 2013. The fellowship is given to 50 young and promising musicians from all over the country and carries a grant of Rs. 1 lakh per annum per musician for three years certain. Till date, the Sabha has conferred the fellowship on 231 young musicians including this year. This year, the fellowship is given for the first time to 15 youngsters and continued for 36 musicians.