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The Nobel Prize is a set of annual international awards bestowed for different categories by Swedish and Norwegian institutions in recognition of academic, cultural, and/or scientific advances.
In 1895 Alfred Nobel established this prizes in order to promote talented people. The prizes is bestowed in Chemistry, Literature, Peace, Physics, and Physiology or Medicine. The prize ceremonies take place annually in Stockholm, Sweden (with the exception of the peace prize, which is held in Oslo, Norway).The Nobel Foundation was founded as a private organization on 29 June 1900. Its function is to manage the finances and administration of the Nobel Prizes. The amount of prize money depends upon how much money the Nobel Foundation can award each year. The purse has increased since the 1980s, when the prize money was 880 000 SEK (c. 2.6 million SEK, US$350 000, or €295,000 today) per prize. In 2009, the monetary award was 10 million SEK (US$1.4 million, €950,000) along with the  laureates. The Nobel Prize amount for 2016 is set at Swedish kronor (SEK) 8.0 million per full Nobel Prize.


Awarding Nobel prize involve several process like :


Nominations : The Nobel Committee sent the nomination forms to about 3,000 individuals, usually in September the year before the prizes are awarded. 



Selection: The Nobel Committee then prepares a report reflecting the advice of experts in the relevant fields. This, along with the list of preliminary candidates, is submitted to the prize-awarding institutions. The institutions meet to choose the laureate or laureates in each field by a majority vote. 





A maximum of three laureates and two different works may be selected per award. Except for the Peace Prize, which can be awarded to institutions, the awards can only be given to individuals. If the Peace Prize is not awarded, the money is split among the scientific prizes. This has happened 19 times so far. The prize is not awarded posthumously, but if a person is awarded a prize and dies before receiving it, the prize may still be presented. For the first time Nobel prize was given to Wilhelm Röntgen (Physics). Hoff, Jacobus Henricus van 'tJacobus Henricus van 't Hoff (Chemistry).


Nobel prize awarded to Indian people:

Total of 835 individuals (791 men and 44 women) and 21 organizations were awarded the Nobel Prize, some more than once. 12 are Indians among them (5 Indian citizens and 7 of Indian origin or residency).  Rabindranath Tagore was the first Indian citizen to be awarded Nobel prize.




Indian citizens and Overseas citizens of Indian origin awarded the Nobel Prizes :

 

Year
Laureate
Country
Subject
1913
Rabindranath Tagore

Literature
1930
C. V. Raman   

Physics
1968
Har Gobind Khorana
USA
Physiology or Medicine
1979
Mother Teresa 

Peace
1983
Subrahmanyan Chandrasekhar
USA
Physics
1998
Amartya Sen

Economic studies
2009
Venkatraman Ramakrishnan
USA
Chemistry
2014
Kailash Satyarthi

Peace


Nobel prize 2016 : 

 

Laureate
Subject
Yoshinori Ohsumi
Physiology or Medicine
Michael Kosterlitz
Physics
Fraser Stoddart
Chemistry
Jean-Pierre Sauvage
Chemistry
Duncan Haldane
Physics
David J. Thouless
Physics
Ben Feringa
Chemistry


Nobel prize all mean to promote harmony and good work in the world. Good work need to be rewarded as it promotes the enthusiasm in the human being to work more harder for the progress of humanity . 
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