Indian Wedding vs American Wedding - Free Essay Example

Sample details Pages: 4 Words: 1144 Downloads: 4 Date added: 2017/09/25 Category Advertising Essay Type Compare and contrast essay Tags: America Essay India Essay Did you like this example? Indian Wedding VS American Wedding Every country and every religion have their own traditions and its help to differentiate each other. Even though wedding ceremony has the same meaning in every culture, the way of celebration is different. An Indian marriage is essentially different from a typical American wedding. Indian wedding is about the association of family members follow the traditions, functions, customs while traditional American Wedding is about Bridal shower, Bridal Party, The veil, kissing the bride, the grooms cake and the honeymoon. Indian marriages start with searching the bride or groom as a part of arranged marriage. It is considered to be the most acceptable form of marriage till date in most of the communities in India. Both of families fully involved in searching the bride or the groom. I still remember that day when I had first meeting with my husband in presence of my family members at my house. I had talk with him for two hours and then I discussed with my parents. Then my parents had conversation with his family. When the both families were agreed, they fixed the date for marriage. In contrast in the US, arranged marriage is a retard thing to do and is very uncommon. Bride and groom already knew to each other from long time. They have full power to make a decision for marriage. In India wedding is the big and three to five days event while American marriages does not take too much time. When I got marry, my all family members involved one month before the actual date as they did all the planning by themselves. In contrast American wedding arrangements done by marriage planner and only the bride and groom can decide what they want to do. The homes of the bride and of the groom are decorated 5-10 days before as part of the decorations of this special day in India while In America homes are not important part of marriage as they don’t celebrate at home. Traditional American weddings are organized in a place of wors hip like in a church or they reserve the venue. Both the bride and groom send out wedding invitation cards with all lists of three days program and timings to their respective guests separately. Wedding invitation cards may be printed in any of the many Indian languages or English, or both. Even if it is printed in English, the ancient Vedic Sanskrit mantras are still printed on the cards. Sanskrit mantras in English make for interesting text to read. In contrast American wedding cards printed in English with formal language. You have approximate idea about your guests as they response on your invitation, but in India you have to guess, there is no approximate, all most all guest would be involve. The riot of colors, loud music, and the boisterous dances are what captivate you at an Indian marriage. No Indian marriage is complete without hearty dancing. I remember in my marriage all members were actively involved in dancing for five days before the wedding day. Of course, there i s stunning food and tons of gossip awaiting the guests. In contrast Americans believe in peaceful marriages with formal parties. Few months ago, I went to a hike trail in Saratoga. Before the hike trail starts there was a small garden. I saw some people in formal dresses. I was surprised when I got to know that there was a wedding ceremony going on. I was thinking about my wedding ceremony, everybody in my town knew that there was a marriage ceremony going on. Heavy bridal decoration forms an essential part of wedding decorations in India. In my marriage I was decked up with precious jewelry from head to toe with heavy sequenced red Lahnga (skirt) and Sari that all had 15-20 lb weight. The groom wears a sherwani or suit with essential jewelry. In contrast white pretty gown for brides and black or blue suit for grooms, this tradition is followed religiously in America. And guests also have the same kind of formal dress usually in Black. In Indian marriages groom comes on the ba ck of horse with his family and friends, but not included elder women, they stayed at home and do arrangements for welcome of bride and groom together. A special dais is built for the solemnization of the marriage in the bride’s house and both the bride and groom repeat mantras chanted by a priest. After that they put their hands together right hand of the bride and left hand of the groom and take seven rounds in the front of fire. Every round has its special meaning or promises that groom makes for bride and they showered with flower which is recognized as the symbols of happiness. In addition groom put one kind of red color (Sindoor) in bride’s head after that they announced as a husband and wife. When I got married this whole procedure took three hours. In contrast traditional American weddings are organized in a place of worship like in a church, where family and friends assemble. Here comes the best man, flower girls, exchanging vows which mean personal comm itment, and rings. The wedding ceremony is conducted by the priest. He formally asks the invitees whether they have any objection for this marriage and getting the positive response from the invitees the priest asks the couple to exchange wedding rings and then the couple is marked as husband and wife. Traditionally the newlyweds kiss to seal their union; this is the concept of kissing the bride. As the couple leaves the church, they are showered with rice or flower which is recognized as the symbols of fertility. Then the couple organizes a reception party where all family members and friends of two families dine, enjoy and makes merry. The guests form two lines, to dance with the newlyweds and they both also have dance. After that both go for a long vacation, which is pre decided and spending time with each other. In contrast Indian bride comes to groom’s house, where they have to follow other traditions which take one or two days. They have welcome party and celebration for addition in family. Tie the knot programs are loaded with fun activities. The fun activities are not additions but are inherent features of Indian weddings that infuse a lot of playfulness between the bride and the groom and between their families to make them comfortable. Even though it has lot of difference in way of celebration and traditions, this is the most holy event in a person’s life and they can share their happiness moment with friends and family. In any condition or in any tradition wedding ceremony means remain always same, happy time and celebration time as two newlyweds unites together into a sacred bondage of love and life. Don’t waste time! Our writers will create an original "Indian Wedding vs American Wedding" essay for you Create order

Gender And Gender Identity Disorder - 2178 Words

â€Å"From the moment we re born, our gender identity is no secret. We re either a boy or a girl. Gender organizes our world into pink or blue. As we grow up, most of us naturally fit into our gender roles. Girls wear dresses and play with dolls. For boys, it s pants and trucks.† (Goldburg, A.2007) However, for some, this is not the case. Imagine for a moment that you are a two year old boy drawn to the color pink, make up, and skirts. If this is the case than most likely, you are experiencing Gender Dysphoria, otherwise known as gender identity disorder. This condition can be defined as possessing strong, persistent feelings of identification with the opposite gender and discomfort with one s own assigned sex. People with GID desire to live as members of the opposite sex and often dress and use mannerisms associated with the other gender. Furthermore, too often transgender individuals are misunderstood and viewed as freaks of nature. Often times, especially without the support of their families, the individual is made to feel shame for their distain of their gender and conditioned to hate their body. In the first video and third video, the viewer is introduced to a Transgender named Jazz. She is the youngest transgender female on record. According to the video, â€Å"From the minute Jazz could speak, he made it clear he wanted a dress.† He also corrected his mother often about his gender by stating â€Å"No mommy, good girl. At first, his parents chose to ignore his condition asShow MoreRelatedGender Identity Disorder Essays1031 Words   |  5 PagesLiving a life feeling out of place, with the wrong feelings, and in the wrong body, for a person with Gender Identity Disorder, this is how they feel day to day. According to the DSM-IV-TR, Gender Identity Disorder is characterized by a strong, persistent cross -gender identification, persistent discomfort with his or her sex or sense of inappropriateness in their gender role of that sex. According to the American Psychiatric Association (APA), children, adolescents and adults who exhibit a preoccupationRead MoreGender And : Gender Identity Disorder1287 Words   |  6 PagesGender Dysphoria, formerly known as Gender Identity Disorder, is described by the DSM-IV as a persistent and strong cross-gender identification and a persistent unease with ones sex. However, gender identity is not diagnosed as such if it is comorbid with a physical intersex condition. Gender dysphoria is not to be confused with sexual orientation, as people with gender dysphoria could be attracted to men, women, or both. According to an article written by, Australasian Sciences there are fourRead MoreGender Identity Disorder954 Words   |  4 PagesGender Identity Disorder/Gender Dysphoria Gender identity disorder (GID) or transsexualism is defined by strong, persistent feelings of identification with the opposite gender and discomfort with one’s own assigned sex. (â€Å"Psychology Today†) Due to a recent change to the Diagnostic and Statistical Manual of Mental Disorders, or DSM, â€Å"Gender Identity Disorder† will be replaced with â€Å"Gender Dysphoria†. For the purpose of this paper those two terms will be interchangeable. This paper will exploreRead MoreGender Identity Disorder2712 Words   |  11 PagesGender Identity Disorder What is gender identity disorder? Gender identity disorder (GID) is the formal diagnosis used by psychologists and physicians to describe persons who experience significant gender dysphoria (discontent with the biological sex they were born with). It is a psychiatric classification and describes the attributes related to transsexuality. Gender identity disorder in children is usually reported as having always been there since childhood, and is considered clinicallyRead More Gender Identity Disorder Essay1594 Words   |  7 PagesGender, Sex, Sexuality: Separate and NOT equal. First and foremost, a few key terms to keep in mind while reading this paper. Sex†: refers to the biological and physiological characteristics that define men and women.[1] â€Å"Gender†: refers to the socially constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.[2] â€Å"Gender identityâ€Å": an individuals self-conception as being male or female, as distinguished from actual biologicalRead MoreGender Identity Disorder ( Gid )1209 Words   |  5 Pagestheir biological sex and gender identity, which is known as gender dysphoria. Gender dysphoria is formally known as gender identity disorder (GID), gender incongruence or transgenderism. According to Mohammaed Meomon, gender dysphoria is a product of highly complex genetic, neurodevelopmental, and psychological factors (Meomon, 2016). A person’s biological sex is given at birth depending on the appearance of the genitals. What a person identifies with is called gender identity. For example, a womanRead MoreGender Identity Disorder Is A Mental Disorder983 Words   |  4 Pagesdepartment of Psychiatry and Behavioral Sciences, Emory University School of Medicine, state that â€Å"gender identity disorder is a mental disorder in which gender identity is incongruent with anatomical sexâ⠂¬ . Individuals experience different degrees of unhappiness with their sex at birth, which in turn causes them to pursue the life and body of the opposite sex (2010). Does this mean that Matt (ie) has a mental disorder? Would this explain why when Matt (ie) went to a Shaman and the Shaman gave Matt (ie) allRead MoreGender Identity Disorder (Gid)1051 Words   |  5 Pages(e-mail me and let me know if you use this and how it does) Gender Identity Disorder (GID) As early as the age of four (Vitale, 1996), some children begin to realize that the gender their body tells them they are, and the gender their mind tells them they are dont correspond. The sense of gender and the anatomical sex of a person mature at different times and different regions of the body (Vitale, 1997b). Sometimes the gendermap, the template within the mind of a person that codes for masculinityRead MoreGender Identity Disorder ( Gid ) Essay2178 Words   |  9 PagesIntroduction Sex and gender have been highly controversial constructs amongst many researchers for a long time, due to differing interpretations and definitions for both. Sex is described as the biological indicators of an individual being male or female, based on their sex chromosomes and non-ambiguous internal and external genitalia. Gender, on the other hand, is a social construct that is shaped by the way someone develops their idea of male or female within society. The term gender was introduced whenRead MoreGender Identity Disorders ( Gids )1403 Words   |  6 Pagesindividual who was living as a woman while waiting to qualify for gender re-assignment surgery (GReS), shows the pain that those who struggle with gender identity disorders (GIDS) undergoi while â€Å"trapped† in the physical and social constraints of living as their original gender, as well as the relief that comes with living as a member of their â€Å"true† gender. Some may argue that use of surgery for purpose s of treating gender identity disorders is morally unacceptable since trans sexuality does not belong

Project Report Free Essays

string(149) " first option as it involves a bit of electronic design that will be useful experience and it is a solution that can be simulated with a test bench\." [pic] Coursework Title: FPGA Programming Project Module Name:Programmable Electronic Devices Module Code:6008ENGFRI Level:6 Credit Rating:20 Weighting:100% Lecturer:C Wright Issue Date:18/01/2013 Hand-in Date:28/03/2013 Hand-in Method:Hand in printed report at Avril Robarts LRC Feedback Date:15/04/2013 Feedback Method:Return of marked scripts Programmes:IEC Learning Outcomes to be assessed LO1, LO2, LO3, LO4, LO5 6008ENGFRI Programmable Electronic Devices Design Project, Spring 2013 Central Heating Room Thermostat / Controller Objective. You are to design a circuit for a combined room thermostat and system controller for the domestic central heating system shown in figure 1, to be implemented in a Spartan 3E FPGA. The device is to be mounted on a wall in the main living room. We will write a custom essay sample on Project Report or any similar topic only for you Order Now Normally, the thermostat will display the temperature that it measures in the room. The device will have buttons for the user to increase or decrease the temperature setting for the room. While set temperature adjustment is carried out, the display of measured temperature will be replaced with a display of the set temperature. The set temperature will be displayed for a further five seconds after the final button press. When the temperature falls an â€Å"indicated† one degree below the set level, the heating will be activated until the set level is reached again. The heat source is a gas boiler/circulating pump unit, with a single ON/OFF control. This will heat water, which will be circulated through the system by the pump. There are three separate â€Å"zones† in the system. Zone 1. Downstairs heating Zone 2. Upstairs heating Zone 3. Hot water The thermostats in zones 2 and 3 will provide a simple ON/OFF demand for heat. Water flow into each zone is controlled by a motorized â€Å"zone valve†. When a valve is powered, it opens. When power to the valve is switched off, the valve is closed by a return spring. For safety reasons, the boiler/pump unit must not operate unless at least one of the three valves is open. This link shows a typical valve used in this kind of application. http://content. honeywell. com/UK/homes/Catalogue/Heating%20Controls/2. 19%20V4043. pdf In addition, each zone has an external real time clock which outputs a heating enable/disable signal for that zone, according to user requirements. This clock is not part of the project (unless you finish early and feel like designing one! ) You may assume that there is sufficient hysteresis in the system not to require any complex PID type controller! CONTINUES†¦ Figure 1. Heating system schematic diagram (T1 is the device you will design) Objectives 1. Produce a â€Å"tighter† specification for the project. You will design a prototype to be tested on the Spartan 3E development kit, so bear in mind what is available to you on that kit. (Assume that external circuits will handle the conversion between your digital signals and the mains voltage signals of the central heating equipment. 2. Use a hierarchical design methodology to break the project into a set of smaller modules which you can eventually join together to produce the complete system. Each module should have its own specification. For example, what inputs are required, what outputs are produced and how it can be tested. Using a modular design technique will allow you to improve the internal design of each module at a later date. 3. Your design should be of sufficient complexity to demonstrate your skills, but not so overly complex that you risk not completing the project within the allotted time. This is why we are using external real time clocks, which can be simulated using a switch. Feel free to design internal real time clocks, at a later date! For now keep it simple, add â€Å"sophistication† when you have something that works. If you can find anything in the Xilinx demos that you can make use of, then use it. ) CONTINUES†¦ 4. The design will be entered using schematic capture, VHDL, or a combination of both, on the Xilinx ISE software. 5. Simulate and test each module you create using an appropriate test bench. 6. Designs will be downloaded to a Digilent Spartan 3E, FPGA Starter Kit for demonstration of results. 7. A technical report of a standard formal style will be required to be submitted, which should include: †¢ Introduction, Outline design reasons for choice. (10%) †¢ Detailed circuit design. (30%) †¢ Specification of test bench waveforms, with explanation of strategy used. (20%) †¢ Detailed results, analysis and discussion. (20%) †¢ Commentary on results of practical demonstration using development board. (10%) †¢ Conclusions, ideas for development and references. (10%) †¢ Appendices, containing printouts of the circuit schematic or VHDL coding, test bench waveforms, placement routing and results of all simulation work. . Submission Date: The project report is to be handed in by March 28th 2013. This project is worth 100% of the total module module marks! CONTINUES†¦ Hints. Break it up! Begin with a â€Å"top down† approach and start very simple. For example, a module which controls a single zone valve might have a symbol like this. Three of these combinational logic circuits could then be combined to create a module that controls all three zone valves and the boiler. The (much more complicated) room thermostat section of the device could then be similarly broken into smaller parts. Breaking the project into small, well specified, designed, tested and documented modules gives you opportunities to earn marks even if the internal workings of some of the individual modules can’t be completed! Temperature Range Use a sensible temperature range. It’s meant to be a domestic room thermostat. Nobody is going to set their thermostat above thirty degrees! You could argue that there might be a sensible minimum as well. If you use a state machine to store and adjust the SET temperature, for example, then making the range large might result in a complicated state machine, (unless you are good at VHDL! Displaying the Set and Read Temperatures The temperature display should be done on the two digit, 7-segment display add-on cards that plug into the two six pin extension sockets on the starter kit. You should use these displays as a first option as it involves a bit of electronic design that will be useful experience and it is a solution that can be simulated with a test bench. You read "Project Report" in category "Essay examples" The manual for these displays can be found here http://www. digilentinc. com/Data/Products/PMOD-SSD/Pmod%20SSD_rm. pdf Read this manual as it contains important information that might influence some very early design decisions. Don’t try to use the starter kit’s LCD display. You don’t have time! Room Temperature Simulation We don’t have temperature sensors and the A/D converter on the kit is difficult to use. It requires serial programming, so like the LCD display, is most easily used with an embedded microprocessor, such as PicoBlaze. Since we can’t simulate â€Å"programmable state machines† easily, that leads us into fields we don’t want to go into! I suggest you use a single byte of data to simulate room temperature. Adjust this by pressing buttons. If you feel adventurous you could try to use the rotary knob. It is slightly more complicated. END OF SPECIFICATION – START OF LEGAL STUFF! Guide to Performance Criteria 70% and above: Your work must be of outstanding quality and fully meet the requirements of the coursework specification and learning outcomes stated. There must be clear evidence of an understanding of the State Driven Design method. The state diagram should be perfectly correct and there should and perfect correlation between state diagram and finished program. 60% – 70%: Your work must be of good quality and meet the requirements of the coursework specification and learning outcomes stated. There must be clear evidence of an understanding of the State Driven Design method and enough correlation between initial design and finished program to indicate that the correct process has been followed. The program should perform the required functions. 50% – 60%: Your work must be comprehensive and meet all of the requirements stated by the coursework specification and learning outcomes. The ladder must describe a state machine and it should largely match the state diagram. The program should perform the required functions. 40% – 50%: Your work must be of a standard that meets the requirements stated by the coursework specification and learning outcomes. The state machine should be largely correct and the program should perform its required function. Below 40%: Your work is of poor quality and does not meet the requirements stated by the coursework specification and learning outcomes. There is a lack of understanding of key concepts. The state diagram is missing, incomplete or incorrect and there is little correlation between it and the ladder program. Whether the program works or not there will be very few marks available if the state machine design process is not used. Extenuating Circumstances If something serious happens that means that you will not be able to complete this assignment, you need to contact the module leader as soon as possible. There are a number of things that can be done to help, such as extensions, waivers and alternative assessments, but we can only arrange this if you tell us. To ensure that the system is not abused, you will need to provide some evidence of the problem. More guidance is available at http://www. ljmu. ac. uk/corporate/SPR/60399. htm. Any coursework submitted late without the prior agreement of the module leader will receive 0 marks. Academic Misconduct The University defines Academic Misconduct as ‘any case of deliberate, premeditated cheating, collusion, plagiarism or falsification of information, in an attempt to deceive and gain an unfair advantage in assessment’. The School takes Academic Misconduct very seriously and any suspected cases will be investigated through the University’s standard policy (Academic Misconduct Policy). If you are found guilty, you may be expelled from the University with no award. It is your responsibility to ensure that you understand what constitutes Academic Misconduct and to ensure that you do not break the rules. If you are unclear about what is required, please ask. Cheating includes: i) any form of communication with, or copying from, any other source during an examination; ii) communicating during an examination with any person other than an authorised member of staff; iii) introducing any written, printed or other material into an examination (including electronically stored information) other than that specified in the rubric of the examination paper; iv) gaining access to unauthorised material in any way during or before an assessment; ) the use of mobile phones or any other communication device during an assessment or examination; vi) the submission of false claims of previously gained qualifications, research or experience in order to gain credit for prior learning; vii) the falsification of research data, the presentation of another’s data as one’s own, and any other forms of misrepresentation in order to gain advantage; viii) the submission of work for assessment that has already been submitted as all or part of the assessment for another module without the prior knowledge and consent of the Module Leader for the subsequent assessments; x) the submission of material purchased or commissioned from a third party, such as an essay-writing service, as one’s own. Plagiarism is defined as the representation of the work, artefacts or designs, written or otherwise, of any other person, from any source whatsoever, as the student’s own. Examples of plagiarism may be as follows: i) the verbatim copying of another’s work without clear identification and acknowledgement including the downloading of materials from the Internet without proper referencing of materials; i)the paraphrasing of another’s work by simply changing a few words or altering the order of presentation, without clear identification and acknowledgement; iii)the unidentified and unacknowledged quotation of phrases from another’s work; iv)the deliberate and de tailed presentation of another’s concept as one’s own. Collusion includes: i) the conscious collaboration, without official approval, between two or more students in the preparation and production of work which is ultimately submitted by each in an identical or substantially similar form and/or is represented by each to be the product of his or her individual efforts; i) collusion also occurs where there is unauthorised co-operation between a student and another person in the preparation and production of work which is presented as the student’s own. For more information you are directed to following the University web pages: †¢ Information regarding academic misconduct:http://www. ljmu. ac. uk/studysupport/81924. htm †¢ Information on study skills:http://www. ljmu. ac. uk/studysupport/ †¢ Information regarding referencing:http://www. ljmu. ac. uk/studysupport/69049. htm ———————– School of En gineering, Technology and Maritime Operations How to cite Project Report, Essay examples Project Report Free Essays string(66) " collatoral security in case of new limits in this new concern i\." Project Report of VIOM IMPEX (Our Motto Is â€Å"GOOD QUALITY GOOD SERVICE†) ZINK INGOT BRASS INGOT Application for †¢ †¢ †¢ Machinery Term Loan of Rs. 65 lacs Various Working Capital Limits of Rs. 1000 Lacs Bank Guarantee of Rs. We will write a custom essay sample on Project Report or any similar topic only for you Order Now 50 Lacs VIOM IMPEX Our Motto Is â€Å"GOOD QUALITY GOOD SERVICE† Index Sr. No. Particular Page No. 1 2 3 4 5 6 7 8 Executive Summary of the Project About the Promoters / Partners Project Cost and Financial Highlights Term Stipulations Other Project Details Process Flow Chart Project Implementation Schedule Credit Monitoring Assessment Data . Executive Summary of the Project The proposed project is for setting up a 100% Export Oriented Unit engaged in the manufacturing of ferrous non-ferrous metal ingots / billets; extruded / casted bars, rods, profiles; manufactured parts of electrical and electronic items, hardware, sanitary wares and other items with the major thrust to cater the international market. The unit will be engaged in Manufacturing of Ingots, Billets; Extruded / Casted Bars, Rods, Profiles; Manufactured parts and components of electrical and electronic items, hardware and sanitary items and other items of wide variety with different specifications for consumption of engineering Sector and other engineering firms along with processing of scrap cable and metal scraps. The products have a wide acceptance for the intermediate industrial consumption by engineering and electrical industries. Jamnagar is well known since for its Brass Part manufacturing facilities and it feeds about 70% of requirement of different machined and turned articles, fittings, parts and components of Brass of India and it has major share in international market too. The experience of partners in extrusion plant and in the working of 100% EOU will primarily be a great help. The overseas contacts of the partners have assured business through them as well as directly for reduced cost of operations working under the 100% EOU mode. A sister concern, named M/s. Vishal Impex, of this proposed concern is enjoying credit facilities from your bank. After commissioning of this unit, it is intended to close Vishal Impex and transfer existing customers / business / sale to M/s. Viom Impex. As soon as the new unit starts it’s commercial operation, M/s. Vishal Impex, i. e. the erstwhile group concern would be closed. This project would carry all activities carried out by Vishal Impex and would further be expanding to cover new products / business and new international market also. Existing working capital used by Vishal Impex from your bank would be fully repaid from the working capital finance taken in Viom Impex. The collatoral security worth INR 160 Lac of Vishal Impex is held by your bank. That would be free after repayment of loans and that is offered / transferred as collatoral security in case of new limits in this new concern i. You read "Project Report" in category "Papers" e. M/s. VIOM Impex. 1. Unit has received permission for establishment of 100% EOU, Permission letter is enclosed herewith. 2. Unit has also received provisional registration as a SSI unit for the manufacture of activities as stated above. Copy of allotment of Provisional Registration is attached herewith. 3. Copy of Partnership Deed is attached herewith. . About Promoters / Partners of the Unit M/s. VIOM IMPEX is a closely held partnership firm promoted by Shri Vaikunthbhai G. Kataria alias Bhanushali and his son Shri Mayur V. Kataria. SHRI VAIKUNTHBHAI G. KATARIA ALIAS BHANUSHALI Age : 51 Years He is in the line of import, manufacture and export of various products since 30 years. He will look after the overall pro duction, Quality control, Production Planning and development of New Products. The partner is well experienced in the Extrusion plant and working of 100% EOU. He is the director of Padmavati Impex Pvt. Ltd. hich is a 100% EOU engaged in manufacturing and export of parts components of brass and is established as a quality supplier in the international market. SHRI MAYUR V KATARIA Age : 27 Years Experienced in the field of import of raw material, manufacturing and export of ferrous and non-ferrous metals, extrusion plant, etc. and is having good hold on the administration and marketing. Assigned with the responsibility of Market Development looking after the sales, promotion and distribution activities of the firm. He is Prop. of Mayur Overseas. Viom Impex 3. Project Cost Financial Highlights Cost of Project Particulars Factory Shed (Leased Premises) Plant Machinery Spectro Photometer (Imported) Emission Control System (Chimney) Weigh Bridge Weighing Scales Turning Machines Wiredraw Machines Billet Cutting Machine Sand Mixing Machine Taping Threading Machine Slotting / Milling Machine Metal Bailing Machine Pulveriser Machine with Dust Collection Metal / Dust Separater Machine Billet Mould with Trolly Lathe Machines with Electricals Drill Machine Hakshaw Machine Blowers Misce. Dyes, Tools, Electrification, Furnitures etc. (INR in Lac) – 34. 80 10. 13 5. 00 0. 50 8. 82 1. 30 2. 60 0. 42 1. 54 1. 9 4. 05 2. 15 0. 19 5. 40 6. 41 0. 62 0. 02 1. 00 3. 98 90. 00 Working Capital requirements Total 1,200. 00 1,290. 00 Means of Finance Particulars Partners’ Capital Loan from Friends Relatives Bank Finance (Fund Based) Term Loan PCFC (DP DA), FCL, C. C. against Stock Book Debt (Rs. in Lacs) 200. 00 25. 00 65 1,000 1,065. 00 Bank Guarantee (Non Fund Based) Total 50 1,290. 00 Viom Impex Details of Securities offered INR in Lac Security Machineries Furniture Stock Book Debt **Existing Security in Vishal Impex Building Total Primary 90 949 627 1,666 Collatoral 160 235 395 Total 90 949 627 160 235 2,061 * Note :As soon as the new unit starts it’s commercial operation, M/s. Vishal Impex, i. e. the erstwhile group concern would be closed. Accordingly, the business / turnover / sales of Vishal Impex would be handled by the new concern M/s. Viom Impex. Existing working capital used by Vishal Impex from your bank would be fully repaid from the working capital finance taken in Viom Impex. The collatoral security worth INR 160 Lac of Vishal Impex is held by your bank. That would be free after repayment of loans and that is offered / transferred as collatoral security in case of new limits in this new concern i. . M/s. VIOM Impex. PROPOSED LIST OF MACHINERIES / ELECTRICAL ACCESSORIES / FURNITURE FIXTURES ETC. OF VIOM IMPEX ,JAMNAGAR . 1 SPECTRO PHOTOMETER Manufacturer/Agent/Autho. Dealer: 1) Unispec Marketing Unit /Price Qty. a Model Spectro lab F 3279760 1 b Model Spectromax X 2107600 1 2)Hindiron Services Pvt. Ltd. a Model ARL-3460 2363250 1 Taxes/Pack ing/Installa tion/ETC. Amount 3279760 2107600 200000 200000 Total Amount 3479760 2307600 Final Amount 2363250 200000 2563250 3479760 2 EMISSION CONTROL SYSTEM (CHIMNEY) Manufacturer/Agent/Autho. Dealer: 1)Almonard Pvt. Ltd. Almonard make 728000 1 728000 Emission Control System 3 WEIGH BRIDGE Manufacturer/Agent/Autho. Dealer: 1) Endeavour Istrument 285000 1013000 1013000 Pvt. Ltd. W/B-E 50T(for 50MT) 4 WEIGHING SCALES For 500 KGs. Approx 475000 1 475000 25000 500000 500000 25000 2 50000 0 50000 50000 5 TURNING MACHINES Manufacturer/Agent/Autho. Dealer: 1)Krishna Machine Tools 25 MM (Automatic) 50000 32 MM (Automatic) 55000 Diabox Type 25MM 110000 2)Techknow Product Turning Cutting 1†³ 26150 Turning Cutting1. 5†³ 30750 6 WIRE DRAW MACHINES Manufacturer/Agent/Autho. Dealer: 1) P. M. Products Light Duty 42500 Heavy Duty 66500 2) Prabhat Machine Tools Double Gear Machine 47500 7 BILLET CUTTING MACHINE Manufacturer/Agent/Autho. Dealer: 1) P. M. Products MANUAL 48750 HYDRAULIC 144500 HYDRAULIC WITH LOADER 234500 8 SAND MIXING MACHINE Manufacturer/Agent/Autho. Dealer: 1) Prabhat Machine Tools Light Duty 18000 2) Janta Enterprise Heavy Duty 35000 2 1 3 8 2 100000 55000 330000 209200 61500 20000 10000 44000 41000 11000 120000 65000 374000 250200 72500 881700 1 1 42500 66500 9500 11500 52000 78000 2 95000 19000 114000 130000 1 1 1 48750 144500 234500 10000 18000 25000 58750 162500 259500 259500 1 1 8000 35000 5000 7000 23000 42000 42000 Page 1 of 3 9 TAPING THREADING MACHINE Manufacturer/Agent/Autho. Dealer: 1)Techknow Product Capacity 1†³ 17850 Capacity 1. 25†³ 24850 Single Tool Threding 30250 10 SLOTTING / MILLING MACHINE Manufacturer/Agent/Autho. Dealer: 1)Techknow Product Ram Type 30850 11 METAL BAILING MACHINE Manufacturer/Agent/Autho. Dealer: 1) Mico Hy raulics 90 MT. Ferrous 360000 Non-Ferrous Metal Scrap Bailing Machine 4 1 1 71400 24850 30250 17000 5000 5400 88400 29850 35650 153900 3 92550 16450 109000 109000 1 360000 45000 405000 405000 12 PULVERISER MACHINE WITH DUST COLLECTOR Manufacturer/Agent/Autho. Dealer: 1) Janta Enterprise Size 24†³ 185000 1 185000 Size 18†³ 90000 1 90000 13 METAL / DUST SEPERATOR MACHINE Manufacturer/Agent/Autho. Dealer: 1) Janta Enterprise Size 24†³X36†³ 16500 1 14 BILLET MOULD WITH TROLLY Manufacturer/Agent/Autho. Dealer: 1) Geeta Machine Tools Pvt. Ltd. Size 5†³X36†³ 45000 Size 5†³X60†³ 50000 30000 15000 215000 105000 215000 16500 2500 19000 19000 4 4 180000 200000 77000 83000 257000 283000 540000 15 LATHE MACHINES WITH ELECTRICALS Manufacturer/Agent/Autho. Dealer: 1) Geeta Machine Tools Pvt. Ltd. 4. 5†³ Cone Pulley 35000 4 9†³ Cone Pulley 85000 1 10†³ Cone Pulley 95000 3 13 DRILL MACHINE Manufacturer/Agent/Autho. Dealer: 1) Superb Machine Tools 25 MM Heavy 21000 19 MM Advanced 16500 19 MM Regular 7500 14 HAKSHAW MACHINE Approximate 140000 85000 285000 36000 22000 73000 176000 107000 358000 641000 1 2 1 21000 33000 7500 3000 6000 3000 24000 39000 10500 61500 20000 1 20000 0 20000 20000 479640 9000000 15 Misc. Dies/Tools,Electrification,Office Equipments/Furniture/Fixtures etc. Grand Total Page 2 of 3 Sr. N o. Particulars LIST OF COLLATERAL SECURITY OFFERED IN VIOM IMPEX ,JAMNAGAR. Date of valuation Value (Rs. report In Lacs) Status 17. 4. 2003 16. 56 Existing in Vishal Impex 1 Res. Bldg,58 Digvijay Plot at Jamnagar owned by Shri Vaikunthbhai G Bhanushali 2 Plot No. 195, GIDC Phase II at Jamnagar owned by Shri Vaikunthbhai G Bhanushali 3 Plot No. 17,18,19 Ward No. 14, Survey No. 1485/p, Shanker Tekri,Udyognagar, Jamnagar owned by Smt. Harbai V Kataria 4 Plot 2 Acres 32 Gunthas, Survey No. 83/3, Vill. Kansumra, Jamnagar. 16. 4. 2003 16. 39 Existing in Vishal Impex 12. 4. 2003 38. 29 Existing in Vishal Impex Approx 79. 00 Existing in Vishal Impex 5 LIC Policies having SV of Rs. 10. 00 Lacs. Note:Matured LIC Policies in the form of FD/DBD to be released. 6 Industrial Shed at Plot No. 003-3007,GIDC Phase III Approx Dared Jamnagar. 7 Residendtial Plot at Oswal Colony, Street No. 5, Opp. Ajay Bunglow, Jamnagar owned by Smt. Harbai V Kataria Approx 10. 00 Existing in Vishal Impex 175. 00 New Property offered 60. 00 New Property offered TOTAL 395. 24 1 2 3 4 5 NAMES OF GUARANTORS: VAIKUNTHBHAI GANGJIBHAI KATARIA alias as VAIKUNTHBHAI GANGJIBHAI BHANUSHALI HARBAI VAIKUNT HBHAI KATARIA MAYUR VAIKUNTHBHAI KATARIA BHAVNA MAYUR KATARIA alias as BHAVNA RATANSHIBHAI CHANDRA VASANT VAIKUNTHBHAI KATARIA NAME OF UNIT : VIOM IMPEX CORRESPONDENCE ADDRESS : â€Å"ASHISH† 58, DIGVIJAY PLOT, OPP. WATER TANK, JAMNAGAR-361 005. TELEPHONE : 91-288-2564041/2565009 TELEFAX : 91-288-565009 CELL (MAYUR V KATARIA) : 98 795 90565 EMAIL :viomimpex@hotmail. com WORKS : PLOT NO. 3003-3007, GIDC PHASE-III, DARED JAMNAGAR-361 004. (INDIA) Page 3 of 3 Viom Impex Projected Profit Loss Account INR in Lac Particulars Installed Capacity in MT Capacity utilization INCOME Export Sale Value Quantity in MT DTA Sale Value Quantity in MT Impurities Sale Value Quantity in MT Total Sales EXPENSES Raw Materials Consumption Cost of Impurities Manufacturing Expenses Depreciation Cost of production Opening Stock Closing Stock Cost of Sales Gross Profit 3,773. 0 4,116. 00 4,802. 00 5,145. 00 5,146. 00 Year 1 6,534. 00 Year 2 6,534. 00 Year 3 6,534. 00 Year 4 6,534. 00 Year 5 6,534. 00 55% 60% 70% 75% 75% 5,790. 00 3,210. 00 6,649. 00 3,690. 00 7,758. 00 4,310. 00 8,328. 00 4,620. 00 8,372. 00 4,650. 00 84. 00 84. 00 200. 00 200. 00 214. 00 214. 00 251. 00 251. 00 251. 00 251. 00 56. 00 1,113. 00 5,930. 00 55. 00 1,101. 00 6,904. 00 65. 00 1,291. 00 8,037. 00 69. 00 1,371. 00 8,648. 00 68. 00 1,361. 00 8,691. 00 1,052. 00 1,040. 00 1,220. 00 1,296. 00 1,286. 00 1,321. 00 1,441. 00 1,681. 00 1,801. 00 1,801. 00 13. 50 ,159. 50 11. 50 6,608. 50 21. 30 7,724. 30 18. 30 8,260. 30 15. 70 8,248. 70 1. 71 514. 00 5,645. 50 1. 69 514. 00 556. 00 6,566. 50 1. 69 556. 00 642. 00 7,638. 30 1. 69 642. 00 691. 00 8,211. 30 1. 68 691. 00 690. 00 8,249. 70 284. 50 337. 50 398. 70 436. 70 441. 30 4. 80 Selling and Administrative Expenses Interest / Finance Cost Profit before tax Income Tax @ 35% Profit after tax Profit on Sale other than Exports Drawings Net Accretion to Reserves 20. 00 85. 20 179. 30 1. 00 178. 30 4. 89 25. 00 84. 20 228. 30 3. 00 225. 30 4. 96 30. 00 83. 10 285. 60 3. 00 82. 60 5. 05 35. 00 82. 10 319. 60 4. 00 315. 60 5. 08 40. 00 81. 00 320. 30 4. 00 316. 30 4. 23 178. 30 8. 43 15. 00 210. 30 9. 91 20. 00 262. 60 11. 83 25. 00 290. 60 11. 76 30. 00 286. 30 Viom Impex Projected Balance Sheet INR in Lac Particu lars Sources of Funds Partners’ Capital Accumulated Profits Bank Term Loan Bank Working Capital Unsecured Loans Total Application of Funds Fixed Assets (Net Block) Investments Current assets Inventories Debtors Other current assets Cash Bank Balances 76. 50 15. 00 65. 00 15. 00 133. 70 215. 40 374. 70 215. 00 178. 30 65. 0 1,000. 00 Year 1 Year 2 Year 3 Year 4 Year 5 215. 00 388. 60 52. 00 1,000. 00 215. 00 651. 20 39. 00 1,000. 00 215. 00 941. 80 26. 00 1,000. 00 215. 00 1,228. 10 13. 00 1,000. 00 25. 00 1,483. 30 1,655. 60 1,905. 20 2,182. 80 2,456. 10 15. 00 15. 00 15. 00 949. 00 627. 00 36. 20 3. 60 1,615. 80 1,038. 00 1,200. 00 1,286. 00 1,285. 00 1,033. 00 735. 00 40. 00 6. 60 1,819. 60 800. 50 40. 00 1. 00 2,041. 50 917. 10 50. 00 5. 30 2,258. 40 50. 00 5. 40 2,373. 40 Current liabilities Sundry Creditors Net Current Assets Total 224. 00 1,391. 80 1,483. 30 244. 00 1,575. 0 1,655. 60 285. 00 1,756. 50 1,905. 20 306. 00 1,952. 40 2,182. 80 307. 00 2,066. 40 2,456. 10 R atio Analysis Particulars Current Ratio Gross Profit Ratio Net profit Ratio Debt Equity Ratio DSCR Ratio Year 1 – – – – Year 2 Year 3 Year 4 Year 5 1. 31 4. 80 3. 01 2. 71 3. 25 1. 45 4. 89 3. 26 1. 74 3. 30 1. 58 4. 96 3. 52 1. 20 4. 03 1. 72 5. 05 3. 65 0. 89 4. 37 1. 81 5. 08 3. 64 0. 70 4. 39 Viom Impex Working Capital Requirements Current Assets Months’ Year 1 Year 2 Year 3 Year 4 Year 5 Raw Material WIP Finished Goods Sundry Debtors Other Current Assets Total . 25 1. 00 1. 00 435 514 627 36 1,612 482 556 735 40 1,813 558 642 801 40 2,041 595 691 917 50 2,253 595 690 1,033 50 2,368 Current Liabilities Sundry Creditors for Expenses 2. 00 224 244 285 306 307 Working Capital Less :- Margin Bank Finance for Working Capital Term Loan Total Bank Finance Interest (Overall average of all types of Finance) Interest Cost 1,388 388 1,000 65 1,065 8% 85 1,569 569 1,000 52 1,052 8% 84 1,756 756 1,000 39 1,039 8% 83 1,947 947 1,000 26 1,026 8% 82 2,061 1,0 61 1,000 13 1,013 8% 81 Viom Impex Projected Cash Flow Statement Rupees in lacs Particulars Sources of Funds Net Profit after tax Dividend Depreciation Cash accrual from operation Share Capital Increase in Bank Term Loan Bank Working Capital Loan Unsecured Loans Creditors Decrease in Inventories Debtors Other current assets Total Sources Application of Funds Addition to Fixed Assets Increase in Inventories Debtors Other current assets Decrease in Bank Term Loan Bank Working Capital Loan Unsecured Loans Creditors Total Applications Cash Bank Balances Opening balance Net increase/(decrease) Closing balance 18. 0 18. 60 18. 60 3. 00 21. 60 21. 60 (5. 60) 16. 00 16. 00 4. 30 20. 30 20. 30 0. 10 20. 40 90. 00 90. 00 100. 00 175. 00 Year 1 Year 2 Year 3 Year 4 Year 5 – 178. 30 13. 50 191. 80 215. 00 210. 30 11. 50 221. 80 262. 60 21. 30 283. 90 290. 60 18. 30 308. 90 286. 30 15. 70 302. 00 – – – – – 65. 00 1,000. 00 25. 00 224. 00 20. 00 41. 00 21. 00 1. 00 – 1,720. 80 241. 80 324. 90 329. 90 1. 00 304. 00 – 949. 00 627. 00 36. 20 89. 00 108. 00 3. 80 162. 00 65. 50 – 86. 00 116. 60 10. 00 115. 90 – – 1,702. 20 13. 00 25. 00 238. 80 13. 00 330. 50 13. 00 325. 60 3. 00 303. 90 Project Cost and Financial Highlights contd†¦Ã¢â‚¬ ¦.. 1. FACTORY SHED The unit has taken the industrial plot on lease; unit will construct the Factory shed which suits the business requirement at the expense of Lessor. Copy of the Lease Deed is attached herewith. 2. PLANT MACHINERY Total estimated cost of the Plant Machinery is Rs. 107. 75 Lacs. Quotations for the same are attached herewith. 3. WORKING CAPITAL REQUIREMENT Total Requirement of the Working Capital is around Rs. 1200 lacs, a detail working is given the CMA given elsewhere. 4. BANK FINANCE FUND BASED Term Loan of Rs. 80 Lacs. Cost of Plant Machinery is proposed to be part finance by Term Loan of Rs. 80 Lacs. The Term Loan will be repaid in 20 quarterly installment commencing form the second year of commencement of commercial production. Working Capital Finance (PCFC (DP DA), FCL, C. C. against Stock Book Debt) of Rs. 1000 Lacs Total facility of 1000 lacs for all the three facilities individually and all together. NON FUND BASED Bank Guarantee of Rs. 50 lacs (Margin @ 10% and 75% Concession is required in Commission) 5. PROMOTERS CONTRIBUTION Initially Promoters will bring Partners Capital of Rs. 215 Lacs and Loans from Friends and Relative of Rs. 15 Lacs 4. Term Stipulations regarding Interest and Charges in case of Working Capital Finance Particular PCFC (DP DA) FCL Cash Credit against Stock Book Debt of Rs. 1000 Lacs Packing Credit in Foreign Currency cum Foreign Bills Purchase ( DP DA) Sr. No. 1 Remarks We require overall limit of Rs. 1000 lacs. Individual facility having maximum limit of Rs. 1000 lacs 15% Margin PCFC is required on running account i. without want of confirmed order PCFC is required on direct as well as deemed exports Interest should be charged at LIBOR +0. 75 bp (without any additional cost / charges on account of Swap Cost) Swap cost in not charged by peer banks, thus we also require swap cost not be charged. 15% Margin Interest should be charged at LIBOR +2 % (without any additional cost / charges on account of Swap Cost) Swap cost in not charged by peer banks, thus we als o require swap cost not be charged. Presently bank is charging transaction charge of approx. Rs. 0,000/- per transaction. Peer banks are charging approx Rs. 10,000/- per transaction, thus we also demand that our transaction cost per transaction should be approx. Rs. 10,000/-. As our unit is 100 % EOU, there is a natural hedge, thus we doesn’t require forward contract. We demand rollover should be 180 to 360 days. Bank is charging Interest @ 11. 75 %. It should be reduced to 8. 50%. 20% Margin in case of stock 30% margin in case of book debt Presently in Vishal Impex bank is charging 0. 15 % + telex charges. Peer bank charges Rs. 750 + Service Tax. Thus in our case Import Charges should be reduced to Rs. 750 + Service Tax. Presently in Vishal Impex bank is charging 0. 05 % + telex charges. FCL (Foreign Currency Loan) Cash Credit against stock cum book debts Import Bill Charges Export Bill Charges Import Export Bill Charges Peer bank charges Rs. 750 + Service Tax. Thus in our case Import Charges should be reduced to Rs. 750 + Service Tax. Presently bank is charging 0. 10 % additional charge when transaction is from EEFC or PCFC limit. We require that bank should not charge any such additional charges. . Other Project Details PRINCIPAL RAW MATERIAL SOURCES: The principal raw material are Non-ferrous mixed metal scrap and obsolete / wastes in the form of solid or mixed or attached with impurities and other metals, ingots / billets, fuels, etc. The raw materials are mainly imported from American, European Gulf Countries. Since the market prices are fluctuating very much and depend on the London Metal Exchange the sourcing is don e thru Indenting Agents and based on the quality of the material, rates and supply terms, the supply orders are placed. CAPACITY UTILISATION The unit will mainly be engaged in manufacture and export of extruded / casted bars, rods, profiles, sections; billets, ingots; manufactured parts and components of electrical and electronic items, brass hardware, sanitary parts, etc. and reprocessing of metal scrap including cable and other types of scraps. Since the unit will be having machining and processing capacity to manufacture almost all parts of Brass, uniform / installed capacity of the unit based on the product is practically not possible to ascertain. However based on the approximated processing capacity the unit will have a capacity to process about 1500. 00 MT of imported scrap on monthly basis, (single shift working of 8 hours each). The unit has planned utilization of capacity as under I II III IV V Year of Operation Year of Operation Year of Operation Year of Operation Year of Operation 55% 60% 70% 75% 75% Since the partners are already engaged in the similar line of Business activities, capturing the export and local market at the envisaged level will be easier and the projections are easily achievable. LOCATIONAL ADVANTAGES: Jamnagar is well known since long-back as Brass city in India and in the international market for the manufacture and processing of different kinds of parts and components of electrical, electronic and mechanical items, etc. Brass Part manufacturing is centralized at Jamnagar in India and it feeds about 805 of requirement of different parts and components of Brass of India and it has major share in international market too. Labour are easily available at considerable low rates. All most all labourers have become semi skilled and skilled in their work of manufacturing process. Jamnagar is also gifted with all weather ports and is a well developed Industrial Centre. The unit is a 100% Export Oriented Unit and is mainly depending upon imported raw material. The location of the proposed industry at the well developed industrial area i. e. GIDC, ensures less cost of transportation as the center is near to the Kandla Ports and is a well developed center. Labour and other required Utilities are easily available at reasonable costs. MARKETING The promoters have already surveyed the market of exports of finished goods. Also, the policy of quality production adopted by the business is best and well accepted by the trade. As soon as the new unit starts it’s commercial operation, M/s. Vishal Impex, i. e. the erstwhile group concern would be closed. Accordingly, the business / turnover / sales of Vishal Impex would be handled by this new concern M/s. Viom Impex. The senior partner is director of Padmavati Impex Pvt. Ltd. – a 100% EOU and is well experienced in the manufacture and export of their products. They are having a regular export of similar products from other units. The supply to the market is sometimes not found economically viable due to the higher cost of produce. With the working in EOU framework, and with the help of the promotional measures of Govt. , a regular supply at competitive rates can be ensured. As such, finding the market for the product will not be an issue at all and will be captured at the required level. The international dealers and metal agents with whom the partners have long lasting relations have also assured to the partners for the regular take off of the products from the unit. The Export marketing will be looked after directly by the partners and the unit is confident of marketing full product of the works. The existing set up of marketing shall also be used for the extended workings and the new unit. The unit is planning to have tie ups with the Indenting agents in some countries mainly in Gulf and in some areas is operating as direct supplier. The existing market is also of the similar products. With the supplies in the EOU framework, the cost will be lower as well as by maintaining the quality of the product the firm will certainly be benefited at large scale. RAWMATERIAL MAN POWER Usable scrap of non-ferrous / ferrous metals, Ingots, Billets, Fuel, as imported, are the required Raw Materials. The requirement of Raw material is to be met by Imports only. Since the Kandla port is near, a regular supply can be ensured. Consumables and Contract labour as per requirement is also available locally at reasonable rates. 6. Process Flow Chart PRINCIPAL RAW MATERIAL SCRAP OF FERROUS NON-FERROUS METAL ARTICLES THEREOF SORTING AND SEGRAGATING METAL MANNUALLY / MECHANICALLY TO MAKE FREE FROM IMPURITIES MELTING IN FURNACE TO MAKE BILLETS / INGOTS ROD/WIRES/ PROFILES/ONE PIECE CASTING CUTTING/SHAPING/FORGING IF REQUIRED MECHANICAL OPERATIONS LIKE DRILING, COUNTERING,BORING, COUNTER BORING, REAMING, TAPPING,PUNCHING THREADING,FACING MILING, FORGING DEBURRING ETC. BY PRODUCT OF TURNING SCRAP SEMI FINISHED PRODUCTS END CUTS TAKES PLACE DURING OF PARTS / COMPONENTS WORKING UPON INTERMEDIATE OF DIFFERENT / TYPES PRODUCT OF BRASS BILLETS/ INGOTS SHAPES/SPECIFICAION /RODS/SECTIONS/PROFILES/ ONE PIECE CASTING ALSO BY-PRODUT OFSLAG TAKES PLACE DURING THE PROCESS OF MELTING MARKETING RECYCLING THE BY-PRODUCT AS SUCH OR DISPOSED OFF AS PER PROVISIONS OF FTP POLICY ANNEALING, KEROSENE WASH IN CHEMICAL (IF REQUIRED) BUFFING, SILVER PLATING ZINC PLATING, TIN PLATING ETC (IF REQUIRED) ASSEMBLING, INSPECTING TESTING FOR QUALITY CONTROL OF FINAL PRODUCT PACKING . Project Implementation Schedule Proposed Date Lease property taken Particular Building Construction or lease property Plant Machinery Proposed order date Proposed date of receipt Proposed date of erection of machinery Proposed date of Implementation of project already February 2006 April 2006 Last week of April 2006 May 06 CREDIT MONITORING ASSESSEMN T VIOM IMPEX Particulars of the existing limits from the Banking / Finance System Limits from all the banks and financial institution as on a date near to the date of the application Name of bank/ financial institution Nature of facility Existing [Rs. in Lacs] Extent to which limits were utilised Limits Limits now required during the last 12 months Maximum Minimum [1] A – Working Capital Limits [Division-wise] Bank of India B – Medium Term Loans [Excluding working capital term loans] and deferred payment credits (Division-wise) [2] [3] [4] [5] [6] PCFC C. C. – – – 1,000 – – – 65 Total Fund Based Limits Bank Guarantee (Non-Fund Based) Total Non-Fund Based Limits Total Limits – – – 1,065 50 50 1,115 VIOM IMPEX Operating Statement [Rs. in lacs) Particular 1. 2. 3. 4. Gross Sales Less : Excise Duty Net Sales [1-2] Cost of Sales i) Raw Materials (including stores and other items used in the process of manufacture) (a) Imported (Inc. Impurities) Year 1 Year 2 Year 3 Year 4 Year 5 5,930 5,930 6,904 6,904 8,037 8,037 8,648 8,648 8,691 8,691 (b) Indegeneous ii) Other Spares Indegeneous iii) Power Fuel iv) Direct Labour v) Rapairs Maintenance vi) Other Manufacturing Expenses vii) Depreciation viii] Sub-total (i to vii) (viii + ix) 4,825 – 5,156 – 6,022 – ,441 – 6,432 – 1,321 1,441 1,681 1,801 1,801 14 6,160 6,160 6,160 514 5,646 285 85 20 179 179 1 178 12 6,609 6,609 6,609 514 556 6,567 338 84 25 228 228 3 225 21 7,724 7,724 7,724 556 642 7,638 399 83 30 286 286 3 283 18 8,260 8,260 8,260 642 691 8,211 437 82 35 320 320 4 316 16 8,249 8,249 8,249 691 690 8,250 441 81 40 320 320 4 316 ix] Add : Opening stock-in-process Sub-total x] Deduct : Closing stock-in-proc ess xi] Sub-total (Cost of Production) xii] Add : Opening Stock FG xiii] Deduct : Closing Stock FG Cost of Sales 5. 6. 7. 8. 9. Gross Profit (3 – 4) Interest Selling and Administrative Expenses Operating Profit [ 5 – 6 – 7 ] Other income/expenses Add : Income Deduct : Expenses Sub-total + / (-) Profit Before Tax [8 + 9] Provision for taxes Net Profit After Tax [10 – 11) 10. 11. 12. VIOM IMPEX Assessment of Working Capital Requirements [Rs. in lacs) Particular Current Assets i) Raw Materials (a) Imported (Months’ Consumption) (b) Indigeneous (Months’ Consumption) ii) Stock-in-process (Months’ Cost of Production) iii) Finished Goods (Months’ Production) iv) Debtors (Months’ Sales) v) Deposits Other Current Assets Year 1 Year 2 Year 3 Year 4 Year 5 435 1 514 0. 627 1. 5 36 4 482 1 556 0. 5 735 1. 5 40 7 1,820 558 1 642 0. 5 801 1. 5 40 1 2,042 595 1 691 0. 5 917 1. 5 50 5 2,258 595 1 690 0. 5 1,033 1. 5 50 5 2,373 vi) Cash Bank Balance Current Assets Current Liabilities i) Creditors for Goods (Months’ Purchases) ii) Creditors for Expenses (M onths’ Expenses) iii) Advances from Customers Current Liabilities Working Capital Gap Projected Working Capital Loan Total Current Liabilities [B] – [C] [A] 1,616 224 1 – 244 1 244 1,576 1,000 1,244 576 285 1 285 1,757 1,000 1,285 757 306 1 306 1,952 1,000 1,306 952 307 1 307 2,066 1,000 1,307 1,066 [B] [A] – [B] 224 1,392 1,000 1,224 392 C] [D] [E] Net Working Capital [A] – [D] VIOM IMPEX Working Capital Assessment as per PBS Method [Rs. in lacs) Particular 1. 2. 3. 4. 5. 6. Current Assets Current Liabilities Working Capital Gap Net Working Capital brought in Assessed Bank Finance Net Working Capital to Total Current Assets ( in % ) 7. Bank Finance to Total Current Assets ( in % ) 8. Current Liabilities to Total Current Assets ( in % ) 9. Sundry Creditors to Total Current Assets ( in % ) 10. Inventories to No. of Days 11. Receivables to sales (in Days) 12. PBT / Sales ( in % ) 13. PBT / NWC ( in % ) 14. PBT / Total Assets ( in % ) Year 1 Year 2 Ye ar 3 Year 4 Year 5 ,616 224 1,392 392 1,000 1,820 244 1,576 576 1,000 2,042 285 1,757 757 1,000 2,258 306 1,952 952 1,000 2,373 307 2,066 1,066 1,000 24. 25% 31. 63% 37. 06% 42. 17% 44. 93% 61. 89% 54. 96% 48. 98% 44. 28% 42. 13% 13. 86% 13. 41% 13. 96% 13. 55% 12. 94% 13. 86% 13. 41% 13. 96% 13. 55% 12. 94% 39 39 36 39 43 3. 02% 3. 31% 3. 55% 3. 70% 3. 69% 45. 76% 39. 66% 37. 75% 33. 56% 30. 04% 0. 00% 0. 00% 0. 00% 0. 00% 0. 00% VIOM IMPEX Working Capital Assessment as per Naik Committee Recommendations [Rs. in lacs) Particular 1. Turnover / Sales 2. Working Capital Requirements (25 % of Turnover / Sales) 3. Minimum Stipulated Net Working Capital to be brought in by the unit is 5 % of Turnover Year 1 Year 2 Year 3 Year 4 Year 5 5,930 1,483 297 392 1,186 6,904 1,726 345 576 1,381 8,037 2,009 402 757 1,607 8,648 2,162 432 952 1,730 8,691 2,173 435 1,066 1,738 4. Net Working Capital brought in 5. Maximum eligible Bank Finance (Item 2 minus Item 3) 5. Minimum eligible Bank Finance (Item 2 minus Item 4) 1,091 1,150 1,253 1,210 1,106 VIOM IMPEX Balance Sheet Spread [Rs. in lacs) Liabilities Current Liabilities 1. Short term borrowings from banks (including bills purchased and discounted and the excess borrowings Year 1 Year 2 Year 3 Year 4 Year 5 placed on repayment basis) i) from applicant bank ii) from other banks Sub-total (A) 2. Cyclone Loan Earthquake Loan 3. Deposits (maturing within one year) 1,000 1,000 224 – 1,000 1,000 244 – 1,000 1,000 285 – 1,000 1,000 306 – 1,000 1,000 307 – 4. Sundry Creditors 5. Unsecured Loans (within 1 year) 6. Advances/progress payments from customers/deposits from dealers, – – – – – selling agents etc. 7. Interest and other charges accrued but not due for payment. 8. Provision for taxation 9. Dividend payable 10. Other statutory liabilities (due within one year) 11. Instalments of term loans/deferred payment credits/debentures/redee- – – – – – – – – – – mable preference shares (due within one year) 12. Other current liabilities and provision (due within one year) (Major 13 13 13 13 13 237 257 298 319 320 items to be specified individually) Sub-total (B) 13. Total current liabilities (Total of items 1 to 12) 1,237 1,257 1,298 1,319 1,320 VIOM IMPEX [Rs. in lacs) Liabilities Term Liabilities : 14. Debentures (not maturing within Year 1 Year 2 Year 3 Year 4 Year 5 one year) 15. Redeemable preference shares (not – – – – – maturing within one year but of maturity not exceeding 12 years. 6. Term loans (exclusive of instalments payable within one year) 17. Deferred payment credits (exclusive of instalments payable within 52 39 26 13 – one year) 18. Unsecured Loans (repayable after – – – – – one year) 19. Oth er term liabilities 20. Total term liabilities ( 14 to 19 ) 21. Total outside liabilities ( 13 + 20 ) 25 77 1,314 39 1,296 26 1,324 13 1,332 1,320 Net Worth : 22. Equity Share Capital 23. Preference Share Capital 24. General Reserve 25. Development Rebate Reserve/ Investment Allowance 26. Other Reserves (excluding provisions) SHARE PREMIUM 27. Surplus (+) or deficit (-) in profit and loss account 28. Net Worth (Total of items 22 to 27) 29. Total Liabilities (item 21 + item 28) 215 178 393 1,707 215 389 604 1,900 215 651 866 2,190 215 942 1,157 2,489 215 1,228 1,443 2,763 Additional Information : Arrears of depreciation : Contingent liabilities : Arrears of cumulative dividends ii) Gratuity scheme for staff iii) Other liabilities not provided – i) – – – – – VIOM IMPEX [Rs. in lacs) ASSETS Current Assets : 30. Cash and bank balances 31. Investments (other than long term Year 1 Year 2 Year 3 Year 4 Year 5 4 7 1 5 5 investments, e. g. sinking fund, gratuity fund, etc. ) i) Government and other trustee ecurities ii) Fixed deposits with banks 32. i) Receivables other than deferred and export receivables (including bills purchased and discounted by – – – – – – – – – – bankers) ii) Export receivables (including bill purchased and discount by 627 735 801 917 1,033 bankers) 33. I nstalments of deferred receivables (due within one year) 34. Inventory :i) Raw materials (including stores and other used in the process of – – – – – mabnufacture) (a) Imported (b) Indegeneous ii) Stock-in-process iii) Finished Goods iv) Other consumable spares 35. Advances to suppliers of raw mater- 435 514 – 482 556 – 558 642 – 595 691 – 95 690 – ials and stores/spares consumable – – – – – 36. Advance payment of taxes 37. Other current assets (major items to be specified individually) 38. Total current assets ( 30 to 37 ) 36 1,616 40 1,820 40 2,042 50 2,258 50 2,373 VIOM IMPEX [Rs. in lacs) ASSETS Fixed Assets : 39. Gross Block 40. Depreciation to date 41. Net Block (item 39 minus item 40) Year 1 Year 2 Year 3 Year 4 Year 5 90 14 77 90 25 65 180 46 134 280 65 215 455 80 375 Other Non-Current Assets : 42. Investments/book debts/advances/ deposits which are not current assets i) (a) Investment in subsidiary 15 15 15 15 15 Companies / affiliates (b) Others i) Advances to suppliers of capital goods / spares and contractors – – – – – for capital expenditure iii) Deferred receivable (Other than those maturing within one year) – – – – – 43. Non-consumable stores and spare 44. Other miscellaneous assets includ- – – – – – ing dues from directors 45. Total other non-current assets (total of items 42 to 44) 46. Intengible assets (patents goodwill – – – – – 15 15 15 15 15 preliminary and formation expenses, bad/doubtful debts not – – – – – provided etc. ) 47. Total assets (Total of items 38, 41, 45and 46) 48. Tangible net worth (item 28 minus 1,707 393 1,900 604 2,190 866 2,489 1,157 2,763 1,443 How to cite Project Report, Papers Project Report Free Essays A Summer Project Report on â€Å"Create Awareness about Whirlpool Brand of Accessories and Purifier in the Market and Design a plan to make them a household usage item† Towards partial fulfillment of Master of Business Administration (MBA) (affiliated to U. P. Technical University, Lucknow) Submitted To:- Submitted By: Mrs. We will write a custom essay sample on Project Report or any similar topic only for you Order Now Smriti Srivastava Ashok Kumar Gupta Lecturer MBA IIIrd Semester NIEC, Lucknow 2007-2009 PREFACE Perception of consumer regarding promotional tools of any company entirely depends upon awareness of individuals. Besides these, the availability of right tools to the right consumer at the right place with the right communication are need of the hour. It is the needless to say that the planning, selling and serving he consumer play an important role in the respect. Chance in promotional tools, product line, quality, shape, size and design price channel of distribution etc. are made on the basis of information and choice picked up from the market through constant and incessant research. In order to take decision market would constantly be monitored to have needful information for necessary feed back in the rend of the market. As such the marketing research would be an effective tool of measuring the consumer aspiration and perception. Not only thi, it would also provide a link between then corporate environment and marketing organization. The timely marketing research, thus may be viewed as in evitable tool used an aid to tackle the ensuring tiny and tall problems in marketing . I am sanguine , the finding of the survey would be of immense importance and value for the WHIRLPOOL India Pvt. Ltd, in formulating their marketing strategies and policies. (Ashok Kumar Gupta) ACKNOWLEDGEMENT Really, it is a matter of profound to me to have an opportunity to undergoes summer training at WHIRLPOOL India Pvt. Ltd. In Lucknow. Undoubtedly, it is also of paramount important to thank Mr. Talha Ismile ( Marketing manager), WHIRLPOOL India Pvt. Ltd. , Lucknow who extended his kind cooperation by giving guideline and tips about how to survey the market. I would like to give my special thanks to Mrs. Smriti Srivastava (Lecturer, Dept. of Business Administration, NIEC, Lucknow) he offered time and vital encouragement when I needed it most in Lucknow. The satisfaction and euphoria that accompany the successful completion of any work would always remain incomplete unless we mention the valuable cooperation and assistance of those people, who as an expression of gratitude, constant guidance and encouragement , served as a beacon- lit and crown our efforts with success. IO am sanguine, the finding of the survey would be of immense importance and value for the ), WHIRLPOOL India Pvt. Ltd. , Lucknow in formulating their marketing strategies and policies. EXECUTIVE SUMMARY I started my training with ), WHIRLPOOL India Pvt. Ltd. , Lucknow where I thoroughly studied the current create an awareness about whirlpool brand of accessories and purifier in the market and design a plan to make them a household usage item. In order to complete my research. I look a Lucknow district where I take survey and display all whirlpool Accessories and New Launch R. O. Based System Water Purifier into the prime location. I received some positive response from the customers as customer has shown a very keen interest in Accessories and also in R. O. Based System Water Purifier. I found out that most of the customer where not aware about Whirlpool Accessories and R. O. Based System Water Purifier. My research report contains company profile analysis finding, conclusion recommendation etc. I conclude that most of the people were not aware, hence proper advertisement should be taken to promote the Whirlpool Accessories. TABLE OF CONTENT ? PROBLEM DEFINITION ? OBJECTIVE OF THE STUDY ? COMPANY PROFILE ? RESEARCH METHODOLOGY ? DATA ANALYSIS ? FINDING ? SUGGESTIONS RECOMMENDATIONS LIMITATIONS ? SWOT ANALYSIS ? CONCLUSION ? ANNEXURE ? BIBLIOGRAPHY PROBLEM DEFINITION In Whirlpool studying about methods for marketing of water purifier and accessories with respect to its competitors The first motive of the company is to aware about the impurities of water and TDS level which is most probably unknown by the people and tell the difference between RO (Reverse Osmosis) and UV (Ultra Violet) And which system is useful for the consumer it de pends upon the TDS level of the water and minerals and impurity found in the water at present Indian Government recommended the TDS level of water for Human consumption is 120-140 and if it is near about 150 to 170 there is no need for RO water purifier. But if it is more than 180 then it is strongly recommended that RO technology can reduce the TDS level of water there is no use of UV technology In accessories Whirlpool introduces a wide range for products which is very useful for Home Appliances. Most of the cases it is seemed that appliance can not give 100% satisfaction to its users due to the carelessness or not giving right advice to users. People use costly appliance but not uses the recommended thing with product. Which should be harmful for appliance and this cause to be a big fault. In accessories there are so many products which increase the efficiency of appliances and increase its life with very minimum cost. And there are so many products which can be use in twice way i. e. refrigerator and microwave oven the products are cilico tray and neat and fresh kit. RESEARCH OBJECTIVE The Research Objective is to prepare a model which will give the maximum leverage to marketing to its product and establish Whirlpool as a Market leader in both segments. To fulfill the objective of Research When Whirlpool launched this series of Water Purifier and Accessories the advertisement was done by company at television and make a display of the water purifier units at every place where dealers have whirlpool products. And when the technician goes for installation of the machinery or repair it he display the same. It is also the study of competitors who are selling Water Purifier and accessories and what method and marketing strategy they are using to selling their products. By studying that we can get the method which is useful for selling the whirlpool products. So the first thing is to get the information about other companies who are selling the accessories and water purifiers. For that purpose we met the marketing executives and service engineers of other companies like IFB, LG and SAMSUNG. So their preference is to give maximum quality and proper services to its consumers after sale. SOME MAJOR OBJECTIVES OF STUDY 1. To study the current market of Lucknow . 2. To study the awareness level of customer about the WHIRLPOOL accessories and water Purifier. 3. To suggest how can sell of water purifier increase in market. COMPANY PROFILE How to cite Project Report, Papers

Advantages And Disadvantages Of Using AI In Insurance Company

Question: Discuss about the Artificial Intelligence In Insurance Company. Answer: Introduction Artificial intelligence is the future of the technological advancements. It can be understood as the intelligence that is displayed by the modern day machines (Scherer, 2015). They develop this by evaluating the amount of data that they have stored from their past experiences (Noto, 2018). In this Machine understands its environment and responds accordingly. Use of artificial intelligence is going to increase in the coming years. It is going to enhance the efficiency of the business as well as it will reduce the numbers of errors that occurs due to human errors (Ngai and et. al., 2011). In many cases it can be seen that artificial intelligence is not only changing the business but it is changing the overall dimensions of the business and hence improving customer experiences. This report also showcases the advantages and disadvantages of using AI in the working of the insurance company as well as its usefulness in lives of the people. Literature review In the views of Granzon and Josefson (2012), Artificial intelligence is the technological advancements on which the future of the business is leaning towards. It is not only going to reduce the efforts of the employees but it is also going to enhance the efficiency of the firm. This is due to the fact that most of the time the fault in the business is due to the errors done by the human beings or due to the reason that machines did not have the capacity to think according to the situation. They generally work according to the particular set of instructions that is fed into them. This makes them irresponsive towards the environment that they are in. It creates a situation in which machines also becomes ineffective. Use of technology was for the reason to make work more effective and if they do not have the ability to think then it may reduce its efficiency. There are several aspects to the use of technology i.e. from reducing human interventions to reducing the human interference (Tao and Li, 2011). This cannot be possible without machines smarter. According to the views of Wu and Olson (2013), Artificial intelligence is changing the lifestyle of the people all around the world. It has got greater influence in the daily activities of life. From transportation to medication and from research to agriculture in almost every field it has made greater contribution and made the whole process smarter. It has also reduced the amount of human interventions that was previously required for doing a job. Artificial intelligence has empowered people who have severe disease in performing many of their personal life activities (Broeksema and et. al., 2013). In some of the restaurants of Japan, humanoid robots serve food to the consumers. There are many areas like security of organisation as well as home can be done in a better way by the use of artificial intelligence technologies like face or voice recognition. On the other hand Omoteso (2012), Suggests that there are many areas in which artificial intelligence is utilised properly. These advancements have only been implemented and trusted in certain areas of greater importance like the medical, research, transportation, military etc. There are several other business areas in which AI can be utilised especially in the banking and insurance. It not only helps the insurance providers in making their processes easier but it also assists the consumers in understanding the whole process and then taking the services. It is to be understood that there is larger number of people who are the consumers of the insurance company. It has become essential for the companies to make use of the most advanced AI technologies for the making process easier for consumers. It helps in bringing highest order of satisfaction in the minds of consumers. According to Dirican (2015), Most of the people that are taking the services of the insurance company has been disappointed by the services they have receiving over the years. It is also to be understood that this is the industry in which least amount of technological advancements have taken place. The innovation have not been properly utilised in this field in spite of their extraordinary benefits to the people (Morgan, 2018). There are several reasons that are responsible for it. One of the primary reasons for this is that insurance industry is related with the changing norms and the authenticity of the machine learning is still under research. On the contrary Kirlidog and Asuk (2012), states that Insurance industry is facing a lot of difficulty in terms of providing better experience to the consumers. For example if the employee has gone on vacation then consumer has to wait for him to return for claiming request. It is not only increasing the workload of the workers but also enhances problems related to the efficiency of the firm. This frustrates both consumers and employees. On the other hand Turban, Sharda and Delen (2011), says that AI can be applied for improving the claim processes. This brings the system where touch less claims can be filed and human or workers intervention is not necessary. With the use of AI, individuals can easily report the claim, capture damage, make audit of the overall system and procedures as well as they can communicate with the consumers. This affect the industry as it enhances the speed of the working process as well as allows customers to file claims without having to wade through red ta pe (Lacasse and et. al., 2016). He also underlines the fact that the companies that have implemented the technology long ago has saved a lot of time as well as they are able to maintain the quality. It is necessary for improving the employee satisfaction as well as making positive brand image of the firm. In the views of Ennals (2012), Artificial Intelligence empowered claims can fight against the most costly elements of the insurance industry i.e. fraudulent claims. This costs industry a huge sum of money i.e. approx. $40 billion a year. Artificial intelligence with the help of effective algorithms can identify data patterns and recognise when anything is fraudulent. This helps in reducing the dependence on the humans who will manually comb through reports to grab inaccurate claims. On the contrary Vladeck (2014), thinks that in the countries that are having lesser amount insurance penetration, use of Artificial Intelligence can improve the reach as well as can contribute to higher profitability. Especially in the countries such as India and many other densely populated nations use of this technology can be highly beneficial. This technology is helping companies through the use of image, voice recognition as well as through the use of natural language processing. It helps them in ide ntifying the consumers through face, voice recognition (Marr, 2018). This also helps in reducing the efforts done by the people in making claims if the original person has died. In manual methods there can be many identification problems like if the persons signature does not match or the finger prints gets faded out. AI authentication can be seen in the examples where machines ask people to select a particular kind of image then only it provides an access to the consumers. On the other hand Ansari and Riasi (2016), States that many of the insurances like health related insurance can be made easier with the use of AI. This is due to the fact that there are larger numbers of people who are coming for this insurance and their medical test procedures takes a lot of time as well as there is complexity involved in it. Artificial intelligence helps in reducing the extra efforts related to medical check-ups and reduces the chances of fraud claims. Artificial intelligence helps companies in adjusting premiums as per individual consumers (Zagorin, 2017). According to Stoneking and Curet (2014), Artificial Intelligence solves one of the biggest problems of the insurance firms that are related to the privacy of the data related to consumers. Many a times this data is leaked due to various human errors. Artificial intelligence always helps in making the authentication process more secured and hence there is very less chance that data can get stolen for the companies benefit. AI also helps the firm in collecting data from various sources (Financial services insights, 2018). Since all the Artificial intelligence devices are connected with the global networks like Internet of things which empowers them to gather more information related to the consumers. Several firms are using telematics devices that could trigger an emergency call which instructs firms representatives to call policy holders and assist them in their post-crash recovery (Ezrachi and Stucke, 2017). Smart photo analysis systems that are capable of assessing vehicle damage im mediately following an accident. On the contrary Al-Azmi (2013), says that Artificial intelligence is reducing the amount of money spent by the people in the process of availing these insurances. It also helps in getting the loans for home that is built in the disaster prone area. There are smart devices that are attached inside the house which helps them in giving the status of house (Kaplan, 2015). This is done by the use of sensors which measures various kinds of changes in the environment and send signal to the people that are associated with it. Apart from this there are many kinds of sensors that protects home from the damages that are internal in nature (Kantarjian and Yu, 2015). Like in the case of firebreak fire sensors will activate water sprinkler that will ultimately save property from getting damaged and immediate signal is sent to the insurance company and the house owner. It helps in reducing the complexity related to insurance claims. Advantages and Disadvantages of AI in the insurance firms Any technology gets implemented within an organisation only after checking the implications it poses on the business of the firms or the whole industry (Wu and et. al., 2014). There are several kinds of benefits and demerits that are attached with the use of AI in the Insurance industry. Some of the advantages and disadvantages attached with the use of AI in Insurance firms are as follows: Advantages AI helps in making the work process easier and faster. This helps in bringing efficiency to the firm which is necessary for their growth as well as achieving consumer satisfaction. AI intelligence helps in solving problems related to identification of people while they are claiming their insurance. These problems arise to the people who lost their finger prints due to some hazards. AI also helps in making process more error free which is necessary for less compliance generation. It helps in achieving higher consumer satisfaction which helps in increasing their consumer base (Kim, 2011). AI not only helps consumers in their claims but also assist them in the process of availing insurance claims. It makes the procedure easier as well as efficient especially in the case of medical insurance where medical check-up procedure takes a lot of time. It also helps in securing data in a better way. This is due to the reason that machines gets smarter and hence there is less chance of making a security breach (Experts systems, 2018). This is also due to the reason that an extra layer of authentication that is smart gets added to it. AI also creates new kinds of jobs that are related to the technology fields and at the same time it reduces the efforts of the people in doing their task (Mylopoulos and Brodie, 2014). It provides flexibility to the whole process as the insurance benefit calculation can be done according to the algorithm and hence different values get generated for different consumers. Disadvantages Apart from several benefits within an organisation there are several disadvantages hat are also associated with the integration of AI in the Insurance industry. Some of them are as follows: It is not for the people that do not know how to use advanced technology. This can be seen in the case of people whose digital literacy are on the lower side and hence require some kind of trainings for such people. Even after adding advanced layer of protection there is problem of privacy. This is due to the reason that these machines are connected to huge networks as well as sensors which can easily be hacked (Dutta, 2014). There is lot of research that is needed to be done so as to make it business friendly hence it needs continuous up gradations and a highly qualified technician to manage the system if any kind of unwanted failure arises. This is a technology that requires a huge amount of Investments in their installation and maintenance (Chew, 2018). It is also due to the reason that software and hardware attached with it is of higher cost. There is no emotional understanding inside present day AI devices and hence they cannot act accordingly. But future machines can also understand social values as it is in the process. Conclusion From the above based report it can be concluded that in the era of technological business it is important that the ways of doing business must also get smarter. This can be done by the use of technology that is smart and learns from its previous mistakes. This reduces number of human interventions required for completing the task. This also reduces the number of errors in the whole working process. AI intelligence helps insurance industry to work in a more constructive ways. It brings efficiency in the work process as well as makes the whole process faster and easier. Use of AI in the insurance industry has several advantages and disadvantages. One of the major problems that it helps to solve is of data privacy which is always a matter of concern for the consumers. AI helps consumers in their filing of claims or availing of insurance as the process gets easier. References Al-Azmi, A.A.R., 2013. Data, text and web mining for business intelligence: a survey.arXiv preprint arXiv:1304.3563. Ansari, A. and Riasi, A., 2016. Modelling and evaluating customer loyalty using neural networks: Evidence from startup insurance companies.Future Business Journal,2(1), pp.15-30. Broeksema, B. and et. al., 2013. Decision exploration lab: A visual analytics solution for decision management.IEEE Transactions on Visualization and Computer Graphics,19(12), pp.1972-1981. Chew, B. 2018. Impact of AI on talent acquisition and recruitment in the future. [Online]. Available at: https://sbr.com.sg/hr-education/commentary/impact-ai-talent-acquisition-and-recruitment-in-future. [Accessed on: 11th February 2018]. Dirican, C., 2015. The impacts of robotics, artificial intelligence on business and economics.Procedia-Social and Behavioral Sciences,195, pp.564-573. Dutta, S., 2014.Knowledge processing and applied artificial intelligence. Elsevier. Ennals, R., 2012.Artificial intelligence and human institutions. Springer Science Business Media. Experts systems. 2018. The advantages of using AI in Insurance. [Online]. Available at: https://www.expertsystem.com/advantages-using-ai-insurance/. [Accessed on: 11th February 2018]. Ezrachi, A. and Stucke, M.E., 2017. Artificial intelligence collusion: When computers inhibit competition.U. Ill. L. Rev., p.1775. Financial services insights. 2018. Impact of Robotics, RPA and AI on the insurance industry: Challenges and opportunities. [Online]. Available at: https://fsinsights.ey.com/big-issues/Digital-and-connectivity/shaping-insurance-robotics-rpa-and-ai. [Accessed on: 11th February 2018]. Granzon, B. and Josefson, I. eds., 2012.Knowledge, skill and artificial intelligence. Springer Science Business Media. Kantarjian, H. and Yu, P.P., 2015. Artificial intelligence, big data, and cancer.JAMA oncology,1(5), pp.573-574. Kaplan, J., 2015.Humans need not apply: A guide to wealth and work in the age of artificial intelligence. Yale University Press. Kim, S.Y., 2011. Prediction of hotel bankruptcy using support vector machine, artificial neural network, logistic regression, and multivariate discriminant analysis.The Service Industries Journal,31(3), pp.441-468. Kirlidog, M. and Asuk, C., 2012. A fraud detection approach with data mining in health insurance.Procedia-Social and Behavioral Sciences,62, pp.989-994. Lacasse, R.M. and et. al., 2016. A Digital Tsunami: FinTech and Crowdfunding. InInternational Scientific Conference on Digital Intelligence. April(pp. 4-6). Marr, B. 2018. How AI and machine learning are used to transform the insurance industry. [Online]. Available at: https://www.forbes.com/sites/bernardmarr/2017/10/24/how-ai-and-machine-learning-are-used-to-transform-the-insurance-industry/#2386e4b13a1f . [Accessed on: 11th February 2018]. Morgan, B. 2018. How artificial intelligence will impact the insurance industry. [Online]. Available at: https://www.forbes.com/sites/blakemorgan/2017/07/25/how-artificial-intelligence-will-impact-the-insurance-industry/. [Accessed on: 11th February 2018]. Mylopoulos, J. and Brodie, M.L., 2014.Readings in artificial intelligence and databases. Morgan Kaufmann. Ngai, E.W.T. and et. al., 2011. The application of data mining techniques in financial fraud detection: A classification framework and an academic review of literature.Decision Support Systems,50(3), pp.559-569. Noto, G. 2018. Most Insurers Believe AI will completely change Insurance by 2020. [Online]. Available at: https://bankinnovation.net/2017/04/most-insurers-believe-ai-will-completely-change-insurance-by-2020/. [Accessed on: 11th February 2018]. Omoteso, K., 2012. The application of artificial intelligence in auditing: Looking back to the future.Expert Systems with Applications,39(9), pp.8490-8495. Scherer, M.U., 2015. Regulating artificial intelligence systems: Risks, challenges, competencies, and strategies.Harv. JL Tech.,29, p.353. Stoneking, M.D. and Curet, O.L., Deloitte Development Llc, 2014.Computer assisted benchmarking system and method using induction based artificial intelligence. U.S. Patent 8,788,452. Tao, W. and Li, Y., 2011, June. The design and implementation of business intelligence in insurance industry. InComputer Science and Service System (CSSS), 2011 International Conference on(pp. 3681-3684). IEEE. Turban, E., Sharda, R. and Delen, D., 2011.Decision support and business intelligence systems. Pearson Education India. Vladeck, D.C., 2014. Machines without principals: liability rules and artificial intelligence.Wash. L. Rev.,89, p.117. Wu, D.D. and Olson, D.L., 2013. Computational simulation and risk analysis: An introduction of state of the art research. Wu, Y. and et. al., 2014. Enterprise risk management and firm value within China's insurance industry.Professional Accountant,14(1), pp.1-10. Zagorin, E. 2017. Artificial Intelligence in Insurance- Three Trends That Matters. [Online]. Available at: https://www.techemergence.com/artificial-intelligence-in-insurance-trends/. [Accessed on: 11th February 2018].