  The present standard interpretation of quantum mechanics invokes nonlocality
and state reduction at space-like separated points during measurements on
entangled systems. While there is no understanding of the physical mechanism of
such nonlocal state reduction, the experimental verifications of quantum
correlations different from that predicted by local realistic theories have
polarized the physicists' opinion in favour of nonlocality. I show conclusively
that there is no such spooky state reduction, vindicating the strong views
against nonlocality held by Einstein and Popper. Experimental support to this
proof is also discussed. The Bell's inequalities arise due to ignoring the
phase information in the correlation function and not due to nonlocality. This
result goes against the current belief of quantum nonlocality held by the
majority of physicists; yet the proof is transparent and rigorous, and
therefore demands a change in the interpretation of quantum mechanics and
quantum measurements. The hypothesis of wave function collapse is inconsistent
with experimental observations on entangled correlated systems.
