In Australia, students pursuing higher studies (typically a PhD) can complete it on a Research Training Scheme (RTS) place. The RTS is funded by the federal government (see here) but it is up to each university to select candidates who meet eligibility and other requirements. This is a substantial (financial) award that is based on merit and in my view one way of highlighting one's achievements. To the best of my knowledge, some universities have a competitive application process to select which candidate is awarded an RTS place (as the number of students may exceed the number of places available).
Question: How should this award be referred to in a letter or a CV?