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Ben Bernanke, Douglas Diamond & Philip Dybvig laid the foundation of  research in modern banking  in 1980s.Their research is based analysis generated practical solutions  in regulating financial markets & dealing with financial crises. It also explained the banking mechanisms to deal with vulnerability in crises. The research is based on the collapse of banking in 1929 & resultant financial crisis of 1930s.  Diamond & Dybvig developed theoretical models that explain the societal needs of the bank, their role in society which makes them vulnerable to rumours of their possible collapse, & how society can lessen this vulnerability. These insights form the foundation of modern bank regulation.   For the regular functioning of  economy it is essential to channelize the savings to the investments. But there is a paradox , depositors in saving accounts  want instant access to their money in case of unexpected situations, while en...

  The 'Shadow Cabinet' is the team of senior spokespeople chosen by the Leader of the Opposition to mirror the Cabinet in Government. Each member of the shadow cabinet is appointed to lead on a specific policy area for their party & to question and challenge their counterpart in the Cabinet. In this way the Official Opposition seeks to present itself as an alternative government.  The shadow cabinet is lead by leader of opposition and its members have the designations counterpart to the cabinet e.g.  Shadow Minister for Science, Research and Innovation & Shadow Minister for Business and Industry. They are known as shadow ministers. The emergence of the concept of “Shadow Cabinet” can be seen in the mid-nineteenth century Britain, in the form of a distinct and organized opposition. Gradually a leadership group to coordinate its strategy also came into existence.  In the second half of the 19th century, the Shadow Cabinet became a recognized entity within Brit...

  The 2022 Nobel Prize in physics has been awarded to three researchers for their pioneering experiments in quantum information science, a burgeoning field that could revolutionize computing, cryptography and the transfer of information via what is known as “quantum teleportation.” The three physicists are John F. Clauser, 79, of Walnut Creek, Calif., Alain Aspect, 75, of the Université Paris-Saclay and École Polytechnique in France, and Anton Zeilinger, 77, of the University of Vienna. Quantum mechanics is nowadays a vast field of application based research in various areas including quantum computers, quantum networks and secure quantum encrypted communication.  Quantum mechanics allows two or more particles to exist in what is called an 'entangled state'. The effect on one of the particles in an entangled pair determines the effect on the other particle  in the same entangled pair, even when they are far apart from each other.  Quantum mechanics describes the beha...