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The ground state moments of an isolated transition metal atom are represented by Hunds rule mechanism.However,when a solid forms various factors come into picture,like the hybridization with ligand atoms,the spin-orbit coupling,crystal field effects,the Kondo interaction etc.,and the spin and orbital moment are considerably reduced.Observation of localized moments of dilute transition metal impurities in various metallic hosts has been a subject of considerable interest from last four decades.The d-band of transition metals are being treated like itinerant and generally the magnetic moment of an isolated transition metal in d-band hosts is described by effective spin where the orbital moment is generally quenched by large crystal fields and/or due to hybridization.