Nobel prize in physics

Three British scientists David Thouless, Duncan Haldane and Michael Kosterlitz have won the Nobel prize in physics for their work on exotic states of matter that may pave the way for quantum computers and other revolutionary technologies. They will share the 8 million Swedish kronor prize. These trio physicists had worked in the field of condensed matter physics and have discovered totally unexpected behaviours of solid materials. Based on their individual discoveries they came up with a mathematical framework in the field of topology to explain these weird properties. The discoveries have paved the way for designing new materials with all sorts of novel properties that have significant potential revolutionize advances in electronics and future quantum computers.

David J Thouless: He is Emeritus Professor at the University of Washington, Seattle, US.

Duncan M. Haldane: He is the Eugene Higgins Professor of Physics at Princeton University, US.

Michael Kosterlitz: He is the Harrison E. Farnsworth Professor of Physics at Brown University, US.

RBI monetary policy review

Reserve Bank of India (RBI) in its fourth bi-monthly monetary policy review for year 2016-17 has cut the repo rate by 25 basis points to 6.25%. This monetary policy decision was taken by the newly constituted Monetary Policy Committee (MPC).  This was also Urjit Patel’s maiden monetary policy announcement as RBI Governor.

Rates:

Repo rate under the liquidity adjustment facility (LAF): Reduced by 0.25 basis points to 6.25 percent.

Reverse repo rate under the LAF: It was adjusted to 5.75 per cent.

Marginal standing facility (MSF) and Bank Rate: It was adjusted to 6.75 per cent.

Reserve Ratios Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).

Statutory Liquidity Ratio (SLR):20.75 per cent.

International Astronautical Federation 'Hall of Fame' award

Former ISRO Chairman and space scientist Prof Udupi Ramachandra Rao became the first Indian to be given the 'Hall of Fame' award by the International Astronautical Federation ( IAF ). The award has been given for his "outstanding contribution to the progress of astronautics within the framework of the IAF activities''. He was inducted during the closing ceremony of the 67th IAF Congress 2016 held at Guadalajara, Mexico.

Under his guidance, ISRO had designed more than 20 satellites including India’s first satellite Aryabhatta. Under his leadership, India had initiated the development of the geostationary launch vehicle GSLV and the development of cryogenic technology in 1991.He also had served as the first Chairman of Antrix Corporation, the commercial arm of the ISRO. He has published more than 260 scientific and technical papers in various journals. He had played pivotal role in promoting the use of space technology for broadcasting, meteorology, education, disaster warning and remote sensing.