Key problems in black hole physics today.

We review here some of the major open issues and challenges in black hole physics today, and the current progress on the same. It is pointed out that to secure a concrete foundation for the basic theory as well as astrophysical applications for black hole physics, it is essential to gain a suitable insight into these questions. In particular, we discuss the recent results investigating the final fate of a massive star within the framework of the Einstein gravity, and the stability and genericity aspects of the gravitational collapse outcomes in terms of black holes and naked singularities. Recent developments such as spinning up a black hole by throwing matter into it, and physical effects near naked singularities are considered. It is pointed out that some of the new results obtained in recent years in the theory of gravitational collapse imply interesting possibilities and understanding for the theoretical advances in gravity as well as towards new astrophysical applications. [ABSTRACT FROM AUTHOR]