Executive Summary : | Low mass X-ray binaries (LMXBs) are gravitationally bound systems with a compact object and donor star. Matter accreted from the donor forms an accretion disk, which emits X-rays. The exact nature and properties of these X-rays are still unclear. LMXBs are classified into various subclasses based on their correlated spectral and temporal properties. The exact physical mechanisms causing these variations are not well understood. several spectral models have been proposed to explain observed spectral variations in these systems, but there is no consensus on the most accurate model. Temporal properties include broadband noise and narrow quasi-periodic oscillations (QPOs), which probe into the innermost regions of accretion flow. The correlation of spectral and temporal properties with each other and the system's geometry remains unclear. several national and international research groups are developing more comprehensive spectral models to resolve these issues. However, the robustness of these models needs to be tested using data from instruments with higher spectral and temporal capabilities. The advent of new age X-ray observatories has ushered in data with high spectral and temporal resolution, providing much scope for revisiting previously studied LMXBs and exploring newly discovered LMXBs with higher quality data. |