Here are some key milestones (taken from Celebrating 100 Years of the Indian Institute of Science, IISc, 2008, p 123):
1920: N.M. Mehta, AIISc from the Department of General and Organic Chemistry.
1924: R.K. Christie, AIISc from the Department of Biochemistry.
1940: H. Kale, teacher of German.
1953: Rajeshwari Chatterjee, faculty member in the Department of Electrical Communication Engineering.
1959: Piroja Vesugar, Council Member.
1960: Jelica Misovis, PhD degree (Bonus info from p.9: her thesis was entitled "Studies on X-ray crystal structure analysis).
In an earlier post on the first women researchers at IISc, I described -- wrongly, as it turns out -- Prof. Kamala Sohonie as the first woman to study in the Institute. Prof. Sohonie was the first woman to join the physics department in 1933, thirteen years after N.M. Mehta received her AIISc (Associate of the IISc, equivalent to a Masters degree).