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Nobel cuts prize money after years of overspending
He further said that the ability of the Indian banks to manage and monitor non-performing assets (NPAs) needs improvement. “NPAs are likely to inch higher as the economic situation gets difficult,” he warned.
11 Jun 2012, 09:07 PM IST 
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Inside an IKEA store in Stockholm, Sweden
The prize money given to Nobel laureates is to be cut by a fifth, the foundation behind the prestigious awards said on Monday, after a decade of overspending that has stretched its finances.The Nobel Foundation said the money for the awards, given for excellence in the fields of science, literature and peace, would fall to 8 million Swedish crowns.The capital that forms the base for the awards was donated in the will of dynamite inve...
