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Ajmal had the best timing among the quartet when India clinched gold at the Hangzhou Asian Games last year.
It is learned that the delay in releasing the funds is due to the acute financial crisis and the unprecedented restrictions on treasury payments.
India are now placed sixth ahead of England with 2368.83 rating points.
The decision to acknowledge these athletes comes in the wake of criticism for alleged neglect despite their significant contributions to the country.
Indian archers will be in action in two gold medal matches on the day.
HS Prannoy and PV Sindhu will play their quarterfinals today.
The Indians, who had an easy run in the pool stages recording big wins, were made to toil by the Koreans despite taking a 3-0 lead in the first quarter.
Lovlina Borgohain will be in action in the gold-medal bout while India take on South Korea in men's hockey semifinals.
Kerala's Abdulla Aboobacker will be in action in the triple jump final.
The duo defeated world champions Suyong Cha and Sugyong Pak of China.