The announcement follows the Manipur Police's failure to arrest the perpetrators involved in the series of blast in Imphal, the state capital during the last two months.
"I am announcing Rs.1 lakh to anyone who provides information leading to the capture of the perpetrators or to Manipur police personnel who can arrest the perpetrators," Kh Joykishan told IANS.
At least 10 people have been killed in bomb blasts triggered by suspected rebels in the past two months. One blast at the Moirangkhom bus stand killed three people.
Terming the blasts as an "act of cowards who have no respect for the public", Joykishan demanded that the bombers be caught and punished.
Manipur Police say investigation is still on to know the identity of the bombers.
"There are several suspects but we are yet to come to a conclusion to identify the people behind these attacks," Manipur Police chief M.K. Das told IANS.
Manipur is home to some 20 militant groups, with demands ranging from secession to greater autonomy.