Indian Microfinance Sector: A Case Study

In developing areas of the world with very little economic structure, many activities are not monetized. In other words, money is not used to carry out these tasks because the people in these areas do not have the expendable funds required. In order to combat this problem, micro financing has become increasingly more apparent in these areas of distress. Microfinance is an economic development strategy that allows for those in need to borrow actual money in order to start a business, go to school, or even gain access to everyday living requirements. Microfinance has made tremendous strides over the years, but still faces several obstacles including regulation, loan strategies, and loan consumption. This study will attempt to analyze the microfinance industry in India by challenging certain aspects of its use, as well as offer suggestions that could have beneficial effects upon the industry

On the influence of blends on the potential of ground-based transit surveys

Transit surveys have to observe many stars all at once in order to compensate for the rarity of the searched events. Such surveys, especially the ones observing a deep field of view and/or broadening their stellar images, have to deal with a relatively high level of crowding. This crowding could lead to a reduction of the number of detectable transits, and the estimation of the potential of such surveys without taking into account the influence of blends could give overoptimistic results. We have developed a code which allows to estimate the extent by which such a survey is affected by the crowding of the field of view. Our results show that the influence of blends is important only for severe levels of crowding and is in general much less crucial than the influence of red noise.Comment: 6 pages, 4 figures; to be published in Transiting Extrasolar Planets Workshop, Eds: Cristina Afonso, David Weldrake & Thomas Hennin

TRAPPIST photometry and imaging monitoring of comet C/2013 R1(Lovejoy): Implications for the origin of daughter species

We report the results of the narrow band photometry and imaging monitoring of comet C/2013 R1 (Lovejoy) with the robotic telescope TRAPPIST (La Silla observatory). We gathered around 400 images over 8 months pre- and post-perihelion between September 12, 2013 and July 6, 2014. We followed the evolution of the OH, NH, CN, C3 , and C2 production rates computed with the Haser model as well as the evolution of the dust production. All five gas species display an asymmetry about perihelion, the rate of brightening being steeper than the rate of fading. The study of the coma morphology reveals gas and dust jets which indicate one or several active zone(s) on the nucleus. The dust, C2 , and C3 morphologies present some similarities while the CN morphology is different. OH and NH are enhanced in the tail direction. The study of the evolution of the comet activity shows that the OH, NH, and C2 production rates evolution with the heliocentric distance is correlated to the dust evolution. The CN and, to a lesser extent, the C3 do not display such a correlation with the dust. These evidences and the comparison with parent species production rates indicate that C2 and C3 on one side and OH and NH on the other side could be -at least partially- released from organic-rich grains and icy grains. On the contrary, all evidences point to HCN being the main parent of CN in this comet.Comment: Accepted for publication in Astronomy & Astrophysics, 10 page

The Spitzer search for the transits of HARPS low-mass planets - I. No transit for the super-Earth HD 40307b

We have used Spitzer and its IRAC camera to search for the transit of the super-Earth HD 40307b. The transiting nature of the planet could not be firmly discarded from our first photometric monitoring of a transit window because of the uncertainty coming from the modeling of the photometric baseline. To obtain a firm result, two more transit windows were observed and a global Bayesian analysis of the three IRAC time series and the HARPS radial velocities was performed. Unfortunately, any transit of the planet during the observed phase window is firmly discarded, while the probability that the planet transits but that the eclipse was missed by our observations is nearly negligible (0.26%).Comment: Submitted to A&

TRAPPIST: a robotic telescope dedicated to the study of planetary systems

We present here a new robotic telescope called TRAPPIST (TRAnsiting Planets and PlanetesImals Small Telescope). Equipped with a high-quality CCD camera mounted on a 0.6 meter light weight optical tube, TRAPPIST has been installed in April 2010 at the ESO La Silla Observatory (Chile), and is now beginning its scientific program. The science goal of TRAPPIST is the study of planetary systems through two approaches: the detection and study of exoplanets, and the study of comets. We describe here the objectives of the project, the hardware, and we present some of the first results obtained during the commissioning phase.Comment: To appear in Detection and Dynamics of Transiting Exoplanets, Proceedings of Haute Provence Observatory Colloquium (23-27 August 2010), eds. F. Bouchy, R.F. Diaz & C.Moutou, Platypus press 201

Ground-based monitoring of comet 67P/Churyumov-Gerasimenko gas activity throughout the <i>Rosetta</i> mission

Simultaneously to the ESA Rosetta mission, a world-wide ground-based campaign provided measurements of the large scale activity of comet 67P/Churyumov-Gerasimenko through measurement of optically active gas species and imaging of the overall dust coma. We present more than two years of observations performed with the FORS2 low resolution spectrograph at the VLT, TRAPPIST, and ACAM at the WHT. We focus on the evolution of the CN production, as a tracer of the comet activity. We find that it is asymmetric with respect to perihelion and different from that of the dust. The CN emission is detected for the first time at 1.34 au pre-perihelion and production rates then increase steeply to peak about two weeks after perihelion at (1.00±0.10) ×1025 molecules s−1, while the post-perihelion decrease is more shallow. The evolution of the comet activity is strongly influenced by seasonal effects, with enhanced CN production when the Southern hemisphere is illuminated

WASP-50b: a hot Jupiter transiting a moderately active solar-type star

We report the discovery by the WASP transit survey of a giant planet in a close orbit (0.0295+-0.0009 AU) around a moderately bright (V=11.6, K=10) G9 dwarf (0.89+-0.08 M_sun, 0.84+-0.03 R_sun) in the Southern constellation Eridanus. Thanks to high-precision follow-up photometry and spectroscopy obtained by the telescopes TRAPPIST and Euler, the mass and size of this planet, WASP-50b, are well constrained to 1.47+-0.09 M_jup and 1.15+-0.05 R_jup, respectively. The transit ephemeris is 2455558.6120 (+-0.0002) + N x 1.955096 (+-0.000005) HJD_UTC. The size of the planet is consistent with basic models of irradiated giant planets. The chromospheric activity (log R'_HK = -4.67) and rotational period (P_rot = 16.3+-0.5 days) of the host star suggest an age of 0.8+-0.4 Gy that is discrepant with a stellar-evolution estimate based on the measured stellar parameters (rho_star = 1.48+-0.10 rho_sun, Teff = 5400+-100 K, [Fe/H]= -0.12+-0.08) which favours an age of 7+-3.5 Gy. This discrepancy could be explained by the tidal and magnetic influence of the planet on the star, in good agreement with the observations that stars hosting hot Jupiters tend to show faster rotation and magnetic activity (Pont 2009; Hartman 2010). We measure a stellar inclination of 84 (-31,+6) deg, disfavouring a high stellar obliquity. Thanks to its large irradiation and the relatively small size of its host star, WASP-50b is a good target for occultation spectrophotometry, making it able to constrain the relationship between hot Jupiters' atmospheric thermal profiles and the chromospheric activity of their host stars proposed by Knutson et al. (2010).Comment: 9 pages, 8 figures. Accepted for publication in Astronomy & Astrophysic

Spitzer 3.6 micron and 4.5 micron full-orbit lightcurves of WASP-18

We present new lightcurves of the massive hot Jupiter system WASP-18 obtained with the Spitzer spacecraft covering the entire orbit at 3.6 micron and 4.5 micron. These lightcurves are used to measure the amplitude, shape and phase of the thermal phase effect for WASP-18b. We find that our results for the thermal phase effect are limited to an accuracy of about 0.01% by systematic noise sources of unknown origin. At this level of accuracy we find that the thermal phase effect has a peak-to-peak amplitude approximately equal to the secondary eclipse depth, has a sinusoidal shape and that the maximum brightness occurs at the same phase as mid-occultation to within about 5 degrees at 3.6 micron and to within about 10 degrees at 4.5 micron. The shape and amplitude of the thermal phase curve imply very low levels of heat redistribution within the atmosphere of the planet. We also perform a separate analysis to determine the system geometry by fitting a lightcurve model to the data covering the occultation and the transit. The secondary eclipse depths we measure at 3.6 micron and 4.5 micron are in good agreement with previous measurements and imply a very low albedo for WASP-18b. The parameters of the system (masses, radii, etc.) derived from our analysis are in also good agreement with those from previous studies, but with improved precision. We use new high-resolution imaging and published limits on the rate of change of the mean radial velocity to check for the presence of any faint companion stars that may affect our results. We find that there is unlikely to be any significant contribution to the flux at Spitzer wavelengths from a stellar companion to WASP-18. We find that there is no evidence for variations in the times of eclipse from a linear ephemeris greater than about 100 seconds over 3 years.Comment: 17 pages, 10 figures. Accpeted for publication in MNRA

The thermal emission of the young and massive planet CoRoT-2b at 4.5 and 8 microns

We report measurements of the thermal emission of the young and massive planet CoRoT-2b at 4.5 and 8 microns with the Spitzer Infrared Array Camera (IRAC). Our measured occultation depths are 0.510 +- 0.042 % and 0.41 +- 0.11 % at 4.5 and 8 microns, respectively. In addition to the CoRoT optical measurements, these planet/star flux ratios indicate a poor heat distribution to the night side of the planet and are in better agreement with an atmosphere free of temperature inversion layer. Still, the presence of such an inversion is not definitely ruled out by the observations and a larger wavelength coverage is required to remove the current ambiguity. Our global analysis of CoRoT, Spitzer and ground-based data confirms the large mass and size of the planet with slightly revised values (Mp = 3.47 +- 0.22 Mjup, Rp = 1.466 +- 0.044 Rjup). We find a small but significant offset in the timing of the occultation when compared to a purely circular orbital solution, leading to e cos(omega) = -0.00291 +- 0.00063 where e is the orbital eccentricity and omega is the argument of periastron. Constraining the age of the system to be at most of a few hundreds of Myr and assuming that the non-zero orbital eccentricity is not due to a third undetected body, we model the coupled orbital-tidal evolution of the system with various tidal Q values, core sizes and initial orbital parameters. For log(Q_s') = 5 - 6, our modelling is able to explain the large radius of CoRoT-2b if log(Q_p') <= 5.5 through a transient tidal circularization and corresponding planet tidal heating event. Under this model, the planet will reach its Roche limit within 20 Myr at most.Comment: 13 pages, 2 tables, 11 figures. Accepted for publication in Astronomy and Astrophysic

Detection of a transit of the super-Earth 55 Cnc e with Warm Spitzer

We report on the detection of a transit of the super-Earth 55 Cnc e with warm Spitzer in IRAC's 4.5-micron band. Our MCMC analysis includes an extensive modeling of the systematic effects affecting warm Spitzer photometry, and yields a transit depth of 410 +- 63 ppm, which translates to a planetary radius of 2.08 +- 0.16 R_Earth as measured in IRAC 4.5-micron channel. A planetary mass of 7.81 +- 0.58 M_Earth is derived from an extensive set of radial-velocity data, yielding a mean planetary density of 4.8 +- 1.3 g cm-3. Thanks to the brightness of its host star (V = 6, K = 4), 55 Cnc e is a unique target for the thorough characterization of a super-Earth orbiting around a solar-type star.Comment: Accepted for publication in A&A on 31 July 2011. 9 pages, 7 figures and 3 tables. Minor changes. The revised version includes a baseline models comparison and a new figure presenting the spatially- and time-dependent terms of the model function used in Eq.