After several health problems, a great Indian patriot, Shyamji Krishnavarma, breathed his last in hospital at 11:30pm on CHAITRA KRUSHNAPAKSHA, PRATIPADA, SAMVAT 1986(30th March 1930) leaving his wife Shrimati Bhanumati Krishnavarma with no heir.

His wife Bhanumati carried out the good work of Shyamji even after his death. She donated 10,000 Swiss Francs in memory of Shyamji to the Geneva University to be used every year for printing and approved thesis on subject of sociological interest. She also donated 10 000 Swiss Francs to the hospital in Geneva for the treatment of poor and needy. She presented the whole of the Sanskrit and Oriental Library of Pandit Shyamji to the institute De Civilisation Indienne in the Surbonne. She donated 90,000 franks to established a trust in Surbonne University for awarding scholarship to a suitable number of selected Indian students for prosecuting higher studies in the university.