All You Need To Know About Nobel Prizes
By: NDTVNewsDesk
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Nobel Prizes, among the world's most prestigious awards, honour achievements that have "the greatest benefit to humankind".
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These prizes were established by Swedish chemist and inventor Alfred Nobel in his 1895, with the first prizes awarded in 1901.
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The initial prizes, first awarded in 1901, were in Physics, Chemistry, Physiology or Medicine, Literature, and Peace.
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In 1968, a sixth prize was created, for economics, by Sweden's central bank.
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Laureates receive a gold medal, a diploma, and a monetary award of 11 million Swedish kronor (nearly $1.2 million).
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New Nobel Prize laureates are announced in early October each year.
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These prizes are then presented on December 10, the anniversary of Nobel's death.
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If there are multiple winners in a category, the money is shared among them.
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