Institute of Mathematics and Applications (IMA) is a premier Organization that has conceived this path breaking attempt to bring in the rural kids to the fore before they wither away. This has been appreciated by Government of India (GOI), which is trying to replicate it in other states.
IMA was established in year 1999, by Government of Orissa (GOO).
Please read the article below (Reference 2) to see detail as to how and why Rural Math Talent Search (RMTS) project was conceived and executed.
One of the goals set in IMA’s charter was:

• To provide for search and nurturing of young talents in mathematics and to inculcate in them a mathematical culture.

IMA conducted 1st RMTS Tests in 2003. Four more RMTS tests have been conducted in 2004, 2005, 2006 & 2007. In all five batches of students have been picked and nurtured through two weeklong camps, every year. RMTS 2008 will be the 6th, RMTS examination. From year 2007, the tests are being done in two phases. In the 1^st phase 1000 were selected out of the 18 thousand plus contestants and another test was conducted to finalize the 201 scholars. So far we have reached not reached all the 314 blocks.
The current scholars (see the list below) will be mentored and monitored for 3 years and in 6 camps. These camps are financed by the Department of Atomic Energy, Govt. of India (GOI). Some NRIs and education enthusiasts in India have come forward to donate scholarships to the selected students @ Rs. 1500/ year for 5 years (to class 10) to encourage these young scholars. Details are as follows:
 

• 2003: 1st RMTS
  • 30 scholarships for 5 years (2003-2007) donated by an NRI in memory of Late Kamala Pada Das.
  • 16 scholarships through Give A Hand (GAH) program of Vikas Educational and Charitable Trust (VECT), India.
  • 2 scholarships donated by NRI, Sri Surajit Amrit, to exceptionally poor kids.
• 2004: 2nd RMTS
  • 100 scholarships for 5 years (2004-2008) Donated by NRIs, through Sustainable Economic and Educational Development Society(SEEDS, USA and administered by VECT, India.
  • 2 scholarships donated by Dr. Swadheen Pattnaik of IMA.
• 2005: 3rd RMTS
  • 162 scholarships for 5 years (2005-2009) Donated by NRIs, through Sustainable Economic and Educational Development Society(SEEDS), USA and Indian Relief and Education Fund (IREF), USA and administered by VECT, India .
  • 3 scholarships donated by 2 from Indian, Sri Srijat Mishra and Saumya Mohapatra, himself a doctoral student at IIT, through VECT, India. 
  • 55 scholarships each were donated to students from Coastal, Western and Southern districts of Orissa.
• 2006: 4 th RMTS
  • 201 scholarships awarded for 5 years(2006-2010) donated by NRIs, through SEEDS, USA, IREF, USA and administered by VECT, India. Similar donations have been raised by VECT from India.
  • 67 scholarships have been donated equally to each Zone this year too.
• 2007: 5 th RMTS
  • 201 scholarships, awarded.  67 from each Zone, Coastal, Western & South.
• 2008: 6 th RMTS
  • 201 scholarships, proposed.  67 from each Zone, Coastal, Western & South.

Please use the web links to learn about the support Organizations:

• SEEDS (myseeds.home.comcast.net),
• VECT (vikas.org.in) and IREF (iref.homestead.com)
•  IMA (www.iomath.org).
  This year nearly $17.5 thousand will be raised from donors (Reference to 3) in USA, by SEEDS. VECT, India has administered the delivery of scholarships in India, to the students selected by IMA . VECT has also raised funds in India. Except a couple of big donors ($1000), the funds have been raised by small donations of $225/ year (committed for 5 years and good for six scholars in India at the present exchange rate) through SEEDS. Indian donors are encouraged to support 2 students (Rs. 3000/ year for 5 years). List of donors is below (3 and 4)

List of info Articles on RMTS:

1. Math Initiative by Sandip K. Dasverma:

2. Rural Math Talent Search – It's time has come. By S. K. Dasverma

3. NRI donors

4.Indian donors

5.New Volunteer's list

6. Other articles to be listed(1), (2), (3) and (4)