New Delhi, Oct. 6 -- Alfred Nobel, the Swedish inventor, engineer and industrialist, signed his famous will on November 27, 1895, a year before his death. In it, he stipulated that the majority of his fortune should be used to create a fund whose returns would finance prizes for people who had conferred the "greatest benefit to humankind".

Nobel directed that more than SEK 31 million of his estate should be converted into a fund and invested in "safe securities". The income generated from those investments would be distributed annually as prizes.

The 2026 Nobel Prize winners will receive SEK 12 million for each full Nobel Prize, marking an increase of SEK 1 million from last year. At an exchange rate of roughly Rs.9.60 per Swedish krona...