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Monali has won 2 Filmfare Awards, which are prestigious Indian film awards. She received her first Filmfare Award for Best Actress (Telugu) in 1994 for the movie "Antham" and her second Filmfare Award for Best Actress (Kannada) in 2002 for the movie "Jothe Jotheyali." Monali's talent and versatility as an actress have been recognized and celebrated in the Indian film industry.