character sketch of Monsieur Oreille

character sketch of Monsieur Oreille
character sketch of Monsieur Oreille

Character Sketch of Monsieur Orielle 

  1. Monsieur oreille is the husband of oreille madame. ਮੌਨਸੀਅਰ ਓਰੇਲੀ ਓਰੀਲੀ ਮੈਡਮ ਦਾ ਪਤੀ ਹੈ।
  1. He looks like a gentle, weak and self-respecting man. ਉਹ ਇੱਕ ਕੋਮਲ, ਕਮਜ਼ੋਰ ਅਤੇ ਸਵੈ-ਮਾਣ ਵਾਲਾ ਆਦਮੀ ਜਾਪਦਾ ਹੈ।
  1. His wife always is dominated him. ਉਸ ਦੀ ਪਤਨੀ ਹਮੇਸ਼ਾ ਉਸ ਉੱਤੇ ਹਾਵੀ ਹੁੰਦੀ ਹੈ.
  1. He has to obey her all domestic affairs. ਉਸ ਨੂੰ ਸਾਰੇ ਘਰੇਲੂ ਮਾਮਲਿਆਂ ਦੀ ਪਾਲਣਾ ਕਰਨੀ ਪੈਂਦੀ ਹੈ।
  1. He belongs to a rich family. ਉਹ ਇੱਕ ਅਮੀਰ ਪਰਿਵਾਰ ਨਾਲ ਸਬੰਧ ਰੱਖਦਾ ਹੈ। character sketch of Monsieur Oreille
  1. So he does not need to work for a living. ਇਸ ਲਈ ਉਸ ਨੂੰ ਰੋਜ਼ੀ-ਰੋਟੀ ਲਈ ਕੰਮ ਕਰਨ ਦੀ ਲੋੜ ਨਹੀਂ ਹੈ।
  1. But his wife wants him to earn more. ਪਰ ਉਸਦੀ ਪਤਨੀ ਚਾਹੁੰਦੀ ਹੈ ਕਿ ਉਹ ਹੋਰ ਕਮਾਵੇ।
  1. They have no children and other financial responsibilities. ਉਨ੍ਹਾਂ ਦੇ ਕੋਈ ਬੱਚੇ ਨਹੀਂ ਹਨ ਅਤੇ ਹੋਰ ਵਿੱਤੀ ਜ਼ਿੰਮੇਵਾਰੀਆਂ ਹਨ।
  1. He works in the War Office as a head clerk. ਉਹ ਵਾਰ ਦਫ਼ਤਰ ਵਿੱਚ ਹੈੱਡ ਕਲਰਕ ਵਜੋਂ ਕੰਮ ਕਰਦਾ ਹੈ।
  1. He is not a rational person in the eyes of his wife. ਉਹ ਆਪਣੀ ਪਤਨੀ ਦੀਆਂ ਨਜ਼ਰਾਂ ਵਿਚ ਤਰਕਸ਼ੀਲ ਵਿਅਕਤੀ ਨਹੀਂ ਹੈ।
  1. His wife is a stingy woman. ਉਸਦੀ ਪਤਨੀ ਇੱਕ ਕੰਜੂਸ ਔਰਤ ਹੈ।
  1. She wants to save every coin and does not want to spend even on essential affairs. ਉਹ ਹਰ ਸਿੱਕਾ ਬਚਾਉਣਾ ਚਾਹੁੰਦੀ ਹੈ ਅਤੇ ਜ਼ਰੂਰੀ ਕੰਮਾਂ ‘ਤੇ ਵੀ ਖਰਚ ਨਹੀਂ ਕਰਨਾ ਚਾਹੁੰਦੀ।
  1. She also wants about his husband to have a better standard of living. ਉਹ ਇਹ ਵੀ ਚਾਹੁੰਦੀ ਹੈ ਕਿ ਉਸਦੇ ਪਤੀ ਦਾ ਜੀਵਨ ਪੱਧਰ ਬਿਹਤਰ ਹੋਵੇ।
  1. His sleep fled at nights when he would like to spend money on anything. ਰਾਤਾਂ ਨੂੰ ਉਸਦੀ ਨੀਂਦ ਉੱਡ ਜਾਂਦੀ ਸੀ ਜਦੋਂ ਉਹ ਕਿਸੇ ਵੀ ਚੀਜ਼ ‘ਤੇ ਪੈਸਾ ਖਰਚ ਕਰਨਾ ਚਾਹੁੰਦਾ ਸੀ।
  1. He considered his pairing with the wrong woman. ਉਹ ਗਲਤ ਔਰਤ ਨਾਲ ਆਪਣੀ ਜੋੜੀ ਸਮਝਦਾ ਸੀ।
  1. He had to go to the office with an old umbrella. ਉਸ ਨੇ ਪੁਰਾਣੀ ਛੱਤਰੀ ਲੈ ਕੇ ਦਫ਼ਤਰ ਜਾਣਾ ਸੀ। character sketch of Monsieur Oreille
  1. His colleagues laugh at his umbrella. ਉਸਦੇ ਸਾਥੀ ਉਸਦੀ ਛੱਤਰੀ ‘ਤੇ ਹੱਸਦੇ ਹਨ। character sketch of Monsieur Oreille
  1. Then his wife buys a new cheap umbrella for his husband. ਫਿਰ ਉਸਦੀ ਪਤਨੀ ਉਸਦੇ ਪਤੀ ਲਈ ਇੱਕ ਨਵੀਂ ਸਸਤੀ ਛੱਤਰੀ ਖਰੀਦਦੀ ਹੈ।
  1. But this umbrella is considered as an advertising purpose. ਪਰ ਇਸ ਛਤਰੀ ਨੂੰ ਇਸ਼ਤਿਹਾਰਬਾਜ਼ੀ ਦਾ ਮਕਸਦ ਮੰਨਿਆ ਜਾਂਦਾ ਹੈ।
  1. Then she buys for him a costly umbrella. ਫਿਰ ਉਹ ਉਸ ਲਈ ਮਹਿੰਗੀ ਛੱਤਰੀ ਖਰੀਦਦੀ ਹੈ।
  1. But this umbrella gets burnt in the office. ਪਰ ਦਫ਼ਤਰ ਵਿੱਚ ਇਹ ਛੱਤਰੀ ਸੜ ਜਾਂਦੀ ਹੈ। character sketch of Monsieur Oreille
  1. Then his wife abuses him. ਫਿਰ ਉਸਦੀ ਪਤਨੀ ਉਸਨੂੰ ਗਾਲ੍ਹਾਂ ਕੱਢਦੀ ਹੈ।
  1. But as we know, he is an innocent man. ਪਰ ਜਿਵੇਂ ਕਿ ਅਸੀਂ ਜਾਣਦੇ ਹਾਂ, ਉਹ ਇੱਕ ਬੇਕਸੂਰ ਆਦਮੀ ਹੈ।
  1. But for all such his stingy wife is responsible for his ridiculous position in the office. ਪਰ ਅਜਿਹੇ ਸਭ ਲਈ ਉਸਦੀ ਕੰਜੂਸ ਪਤਨੀ ਦਫਤਰ ਵਿੱਚ ਉਸਦੀ ਹਾਸੋਹੀਣੀ ਸਥਿਤੀ ਲਈ ਜ਼ਿੰਮੇਵਾਰ ਹੈ।
  1. He is a self respecting man. ਉਹ ਇੱਕ ਸਵੈ-ਮਾਣ ਵਾਲਾ ਆਦਮੀ ਹੈ।
  1. He tells his wife that he would not go to the office with a servant’s umbrella. ਉਹ ਆਪਣੀ ਪਤਨੀ ਨੂੰ ਕਹਿੰਦਾ ਹੈ ਕਿ ਉਹ ਨੌਕਰ ਦੀ ਛੱਤਰੀ ਲੈ ਕੇ ਦਫ਼ਤਰ ਨਹੀਂ ਜਾਵੇਗਾ।
  1. Even though he threatens his wife to resign from his job. ਭਾਵੇਂ ਉਹ ਆਪਣੀ ਪਤਨੀ ਨੂੰ ਨੌਕਰੀ ਤੋਂ ਅਸਤੀਫਾ ਦੇਣ ਦੀ ਧਮਕੀ ਦਿੰਦਾ ਹੈ।
  1. He is a character of pity in this story. ਉਹ ਇਸ ਕਹਾਣੀ ਵਿਚ ਤਰਸ ਦਾ ਪਾਤਰ ਹੈ।
  1. It is a really painful sight for such a good man. ਅਜਿਹੇ ਨੇਕ ਆਦਮੀ ਲਈ ਇਹ ਬਹੁਤ ਦਰਦਨਾਕ ਦ੍ਰਿਸ਼ ਹੈ।
  1. He is being ill-treated by his miserly wife. ਉਹ ਆਪਣੀ ਕੰਜੂਸ ਪਤਨੀ ਦੁਆਰਾ ਬੁਰਾ ਸਲੂਕ ਕੀਤਾ ਜਾ ਰਿਹਾ ਹੈ।
  2. character sketch of Monsieur Oreille
character sketch of Monsieur Oreille

You can get information about your syllabus from the gndu for the purpose of reading this character sketch.

punjabi poem

This punjabi poem describes nature sorrow which is given by human being while a person tells it his grief in his life. But nature also console him that don’t afraid to living his life on earth.

ਕੁਦਰਤ ਨਾਲ ਗੱਲ

ਜਦ ਸੋਚਦਾ ਇਸ ਜਿੰਦਗੀ ਬਾਰੇ

ਉਦਾਸ ਜਿਹਾ ਹੋ ਜਾਨਾ,

ਚਿੱਤ ਕਰਦਾ ਫਿਰ ਚਲ ਦਿਲਾ

ਨਹਿਰ ਤੇ ਬਹਿ ਆਉਂਦਾ,

ਬੈਠ ਕਿਨਾਰੇ ਨਹਿਰ ਤੇ ਫਿਰ ਦੇਖਦਾ

ਇਨ੍ਹਾਂ ਪਾਉਣਾ, ਬਿਰਖਾਂ, ਪੰਛੀਆ ਨੂੰ

ਤੇ ਪਾਣੀ ਵਿੱਚ ਵਗਦੀਆਂ ਛੱਲਾਂ ਨੂੰ

ਫਿਰ ਅੱਖਾਂ ਬੰਦ ਕਰ ਸੁਣਦਾ

punjabi poem

ਆਪਣੇ ਅੰਦਰ ਚਲਦੀਆਂ ਗੱਲਾਂ ਨੂੰ

ਕਿਤੇ ਭਵਿੱਖ ਬਾਰੇ ਮੈ ਸੋਚਦਾ ਹਾਂ

ਕਦੇ ਬੀਤੇ ਤੇ ਪਛਤਾਉਂਦਾ ਹਾਂ

ਆਪਣੇ ਇਸ ਦਿਲ ਦਾ ਹਾਲ

ਇਹ ਕੁਦਰਤ ਨੂੰ ਸੁਣਾਉਂਦਾ ਹਾਂ

ਅਗੋ ਕੁਦਰਤ ਵੀ ਬੋਲਦੀ ਹੈ

ਆਪਣੇ ਦੁੱਖਾਂ ਦਾ ਭੇਤ

ਮੇਰੇ ਅੱਗੇ ਖੋਲਦੀ ਹੈ

ਕੀ ਹੋਇਆ ਜੇ ਤੂੰ ਹਾਰਿਆ ਹੋਇਆ

ਇਹ ਜਿੰਦਗੀ ਤੋ

ਮੈ ਵੀ ਬੜਾ ਕੁਝ ਹਾਰਿਆ ਹੈ

ਜੇ ਤੂੰ ਦੁੱਖਾਂ ਦਾ ਮਾਰਿਆ ਹੈ

ਪਹਿਲਾ ਪੰਛੀ ਬੋਲੇ ਆ ਦੇਖ.

Read Punjabi love poem

ਕ੍ਰਿਪਾ ਕਰਕੇ ਜੇਕਰ ਤੁਸੀ ਕੁਦਰਤ ਨੂੰ ਪਿਆਰ ਕਰਦੇ ਜੇ ਤਾਂ ਇਸ ਕੁਦਰਤ ਕਵਿਤਾ ਨੂੰ ਆਪਣੇ ਗਰੁੱਪ ਚ share ਕਰ ਦਿਓ ਅਤੇ ਯਾਰਾ ਦੋਸਤਾਂ ਤੇ ਭੈਣ ਭਰਾਵਾਂ ਨੂੰ ਵੀ ਵੱਧ ਤੋ ਵੱਧ share ਕਰੋ | ਧੰਨਵਾਦ ਸਾਹਿਤ 🙏🙏, ਹਮੇਸ਼ਾ ਖੁਸ਼ ਰਹੋ.

Punjabi poem maa da pyar

This punjabi poem maa da pyar tells us what does our mother for us in her whole life. So, we must not forget her virtue for us in our life. Thus, we must pay thanks to her feet.

Punjabi poem maa da pyar
punjabi poem maa da pyar

ਮਾਂ

ਰਾਤੀ ਫੋਟੋ ਦੇਖ ਅੱਖਾਂ ਵਿੱਚੋ ਪਾਣੀ ਭਰ ਆ ਗਿਆ,

ਯਾਦ ਕਰ ਮਾਂ ਨੂੰ ਸੀ ਸੋਚਾਂ ਵਿੱਚ ਪੈ ਗਿਆ,

ਲੰਮੀ ਉਮਰ ਦੀਆ ਮੰਗਦੀ ਦੁਆਵਾਂ ਹੁੰਦੀ ਮਾਂ ਸੀ,

ਰਾਤੀ ਸੌਣ ਲੱਗੇ ਦੋਸਤੋ ਯਾਦ ਆਈ ਮਾਂ ਸੀ….

punjabi poem maa da pyar

ਕਹਿੰਦੀ ਘਰ ਦਾ ਖਿਆਲ ਰੱਖੀ ਆਪਣਾ ਧਿਆਨ ਰੱਖੀ,

ਆਏ ਗਏ ਲੋਕਾਂ ਵਿੱਚੋ ਸਭ ਦੀ ਸਿਆਣ ਰੱਖੀ,

ਆ ਗਿਆ ਸੀ ਵੇਲਾ ਉਹਦਾ ਕਹਿੰਦੀ ਮੈਨੂੰ ਤਾਂ ਸੀ,

ਰਾਤੀ ਸੌਣ ਲੱਗੇ ਦੋਸਤੋ ਯਾਦ ਆਈ ਮਾਂ ਸੀ….

punjabi poem maa da pyar

ਕਹਿੰਦੀ ਇੱਕ ਪ੍ਰਦੇਸੀਆ ਤੂੰ ਵੀ ਬੰਦਾ ਬਣ ਜਾ,

ਮੇਰੇ ਜਿਉਂਦੇ ਜੀ ਆਪਣੇ ਪੈਰਾਂ ਉੱਤੇ ਖਰਜ਼ਾ,

ਇਹ ਧੋਖੇਬਾਜ ਦੁਨੀਆਂ ਕਹਿੰਦੀ ਮੈਨੂੰ ਮਾਂ ਸੀ,

ਰਾਤੀ ਸੌਣ ਲੱਗੇ ਦੋਸਤੋ ਯਾਦ ਆਈ ਮਾਂ ਸੀ….

punjabi poem maa da pyar

ਰਾਤੀ ਸੁਪਨੇ ਚ ਆਈ ਮੈਨੂੰ ਗੱਲ ਇੱਕ ਕਹਿ ਗਈ,

ਮਸੀਦੇ ਕਬਰ ਵੀ ਢਹਿ ਗਈ ਮੇਰੀ ਮਿੱਟੀ ਸਾਰੀ ਵਹਿ ਗਈ,

ਕਹਿੰਦੀ ਕਬਰ ਬਣਾਦੇ ਪੁੱਤਾਂ ਆਈ ਅੱਜ ਤਾਂ ਸੀ,

ਰਾਤੀ ਸੌਣ ਲੱਗੇ ਦੋਸਤੋ ਯਾਦ ਆਈ ਮਾਂ ਸੀ….

ਹੋਰ ਪਿਆਰ ਵਾਲਿਆਂ ਪੰਜਾਬੀ ਕਵਿਤਾਵਾ ਪੜੋ

ਸਾਨੂੰ ਆਸ ਹੈ ਕਿ ਤੁਹਾਨੂੰ ਇਹ ਕਵਿਤਾ ਪਸੰਦ ਆਈ ਹੋਵੇਗੀ | ਜੇਕਰ ਤੁਸੀ ਮਾਂ ਦੇ ਪ੍ਰਤੀ ਪਿਆਰ ਕਰਦੇ ਓ ਤਾਂ ਇਹ ਕਵਿਤਾ ਨੂੰ ਵੱਧ ਤੋ ਵੱਧ ਆਪਣੇ friends te relations ਨੂੰ share ਕਰ ਦਿਓ ਤਾਂ ਜੋ ਲੋਗ ਆਪਣਾ ਪਿਆਰ ਮਾਂ ਨੂੰ ਦੇ ਸਕਣ | ਧੰਨਵਾਦ ਸਾਹਿਤ, ਸਦਾ ਖੁਸ਼ ਰਹੋ 🌞

Sister and brother poems +21 Best ever poetry

This poem describes a community who must coordinate to each other like a children of mother earth. sister and brother poems.

     Let’s make a coordinate 

 
Let’s make a sister and brother,
Trying to know other needs,
Don’t make a difference,
We must not show off,

sister and brother poems

All needy for meals,
Red blood surviving all,
Oxygen consuming by all,
No one can avoid water,

Let’s play in the nature lap,
Nature contains human, animals, birds 
And tree who all our whole family members,
We can’t be happy without hustle of earth,

Let’s give help to others,
Don’t break aspirations of surviving,
Listen always shout of mother earth,
Who survive us after looking,

For more love poems click here.

Never give a pain your mother,
Whose lap warmth always,
Don’t lapse virtue of your mother,
Who never bias among its offspring,

Let’s make a brother sisters,
We all equal children of mother earth,
Don’t neglect abide by our earth,
Let us always be in Her will,
Sister and brother poems

Tell us you’re views regarding this poetry matter through comments.

For more information about poetry career, you must go to authorspublish.com

Suffering from success-11

Suffering of poors

Poverty is nothing less than a curse,

Lakhs difficulties here,

Thousands confusion here,

Unlimited pain here,

Birth pushes out to be lifeless,

Read more love poems

Death eats inside,

Pains and suffering here,

Have to endure alone,

friends also not make,

No one also in love affairs,

Poor are a mocking character

No one sympathizes with him,

if their hard work flows a success,

Then the rivers of people’s hatred flow,

Suffering from success

No one listen them,

All one bothers them,

Yet they endure all the pain,

Because they are struggling

With the issue of livelihood,

There is anyone whose

Tears can reflect a pity,

it seems no community lives here,

Who can engage in the service

Of human beings without meaning,

Suffering from success

After Reading suffering from success, Give your comments around your life experience about poors people. Go to poets organization poets.org
weeklypoetry.com

Butterfly poems for kids 11

        FREEDOM OF BUTTERFLY 

About nature poems in English 

What a beautiful tiny butterfly,

Whose feather intershort colour,

Who unstable on the flowers,

Butterfly

And checked taste to honey ,

About nature poem in English 

  While scatter feathers too sttuning,

  What is too slender,

Butterfly

No weight on the leaves of flowers And long

  legs as well as toung help to taste .

Butterfly poems about death

It has no bounded for wandering,

Nature poem

Rather it has extreme freedom,

To always, As one to other flowers,

And one to other garden’s arena.

Butterfly poems

 Can’t be kept on particular flowers,

 Rather, engaged on searching

 Different delicious that sniff on,

 So, floating on flowers always,

  Butterfly poems about death.

Whereas, some park has prohibited,

By guardian and owners to entry,

Of strangers person and animals,

But no one has dare to stop it.

Butterfly

 Since it has greatest freedom,

 Which no one can deprived it,

  Thus, dependency on flowers,

 Realised the freedom to rejoicing.

Butterfly Freedom

Read more squirrel poetry here.

butterfly poems

About nature poem in English 

Thus, this poem describes the freedom of butterfly. Which has freedom to wandered anywhere. Whereas as like the human being no need it passport ID.

Please follow this blog to reading such interesting poems about the nature and love poems. Anyone students who reader of this site can visit for study material online.

Internet Banking

Critically explain the concept of internet banking in India. (2024)

Critical Explanation of the Concept of Internet Banking in India

What is Internet Banking?

Internet Banking, also known as Online Banking, refers to the use of internet technology by banks to provide banking services to customers. It allows individuals and businesses to access their bank accounts, perform transactions, and avail financial services through a secure online platform — without the need to visit a branch.

Key Features of Internet Banking in India

  • 24/7 Access to bank accounts.
  • Services include fund transfers, bill payments, account statements, loan applications, and investment options.
  • Types of Transfers: NEFT, RTGS, IMPS, and UPI. Concept of Internet bank in India
  • Security Measures: OTPs, encryption, two-factor authentication, and firewalls.

Growth of Internet Banking in India

  • Rapid digitalization post-2010 and government initiatives like Digital India have accelerated adoption.
  • The COVID-19 pandemic further boosted online banking due to safety and convenience.
  • The rise of fintech partnerships and mobile banking apps has also driven internet banking usage. Concept of Internet bank in India
  • Almost all major banks (SBI, HDFC, ICICI, etc.) provide full-fledged internet banking platforms.

Advantages of Internet Banking

Convenience

  • Customers can conduct banking activities from home, office, or on-the-go without time constraints.

Cost-effective

  • Reduces the cost of banking operations for banks and transaction costs for users.

Speed and Efficiency

  • Transactions are processed quickly, especially through real-time systems like IMPS and UPI. Concept of Internet bank in India

Better Record-Keeping

  • Access to downloadable account statements, transaction histories, and auto-receipts.

Financial Inclusion

  • Helps reach customers in remote areas who have internet access but limited branch access. Concept of Internet bank in India

Challenges and Critical Issues in Internet Banking in India

Digital Divide

  • A large portion of India’s rural and low-income population lacks reliable internet access or digital literacy.
  • Internet banking largely benefits urban and semi-urban populations, leaving others underserved. Concept of Internet bank in India

Cybersecurity Threats

  • Rising instances of phishing, hacking, malware, and frauds raise concerns about user data and financial security.
  • Not all banks have equally strong cybersecurity infrastructure.

Customer Awareness and Trust

  • Many customers, especially the elderly or less educated, are hesitant to use internet banking due to fear of mistakes or scams. Concept of Internet bank in India

Technical Glitches

  • System downtime, failed transactions, and app crashes can cause inconvenience and loss of trust.

Regulatory and Legal Concerns

  • Data privacy, grievance redressal, and consumer protection laws are evolving but still face implementation gaps.

Government and Regulatory Support

  • RBI Guidelines on digital banking security, customer protection, and digital onboarding. Concept of Internet bank in India
  • Initiatives like Jan Dhan Yojana, UPI, and BHIM app to increase digital banking penetration. Concept of Internet bank in India
  • Cybersecurity frameworks mandated by RBI and promoted by CERT-IN.

Conclusion

Internet banking in India has transformed the traditional banking landscape by making financial services more accessible, efficient, and user-friendly. However, despite its rapid growth and adoption, challenges such as security concerns, digital illiteracy, limited rural penetration, and regulatory gaps remain significant. For sustainable progress, cybersecurity infrastructure, digital education, and inclusive banking policies must be strengthened to ensure that internet banking benefits all sections of society. You can find the syllabus of Banking and Insurance on the official website of Gndu.

Important question of Banking and Insurance

  1. Difference between life and non life Insurance.
  2. What are the 7 principles of Insurance?

Concept of Internet bank in India

difference between life and non life insurance

What is life insurance? Why is it different from non-life insurance ? Explain its nature also.

What is Life Insurance?

Life insurance is a contract between an individual person who took a policy is called (policyholder) and an insurance company, in which the insurer promises to pay a specified sum of money to a nominee or beneficiary in the event of the policyholder’s death or after a certain period called (maturity), in exchange for periodic premium payments is called ( instalments ) difference between life and non life insurance

Nature of Life Insurance:

  1. Contract of Assurance: It provides financial certainty—either death benefit or maturity benefit.
  2. Long-Term Contract: Usually spans several years, sometimes for the entire life of the insured.
  3. Savings and Protection Tool: Acts as a risk cover and a savings/investment plan. difference between life and non life insurance
  4. Personal Contract: Based on the life and health of the insured individual.
  5. Principle of Utmost Good Faith: Requires full disclosure of material facts by the insured. difference between life and non life insurance
  6. Insurable Interest Required at Inception: The policyholder must have a financial interest in the continued life of the insured. difference between life and non life insurance
  7. Claim is Certain: The payment is guaranteed either on death or on survival till maturity. difference between life and non life insurance

Difference Between Life Insurance and Non-Life Insurance

Aspect

Life Insurance

Non-Life Insurance (General Insurance)

Purpose

Provides financial cover in case of death or survival

Covers losses due to risks like accidents, theft, fire, etc.

Term

Long-term (up to whole life)

Short-term (usually 1 year, renewable)

Coverage

Life of a person

Physical assets, health, liabilities

Claim Event

Death or survival/maturity

Contingent on loss, damage, or accident

Payout

Fixed sum assured or maturity value

Actual loss or expenses incurred (indemnity principle)

Examples

Term insurance, Endowment, Whole Life, ULIP

Health insurance, Motor insurance, Fire insurance

Insurable Interest

Must exist at policy inception

Must exist both at inception and at the time of loss

Nature of Contract

Contract of assurance

Contract of indemnity

Conclusion

Life insurance is primarily a financial security tool that provides peace of mind and future stability to individuals and their families. It differs fundamentally from non-life insurance, which focuses on compensating for specific losses or damages to property, health, or liabilities. Understanding both helps individuals and businesses manage various risks effectively. difference between life and non life insurance. You can find the syllabus of Banking and Insurance on the official website of Gndu.

Important questions of Banking and Insurance

  1. Different types of Insurance policies.
  2. First non life Insurance company in India.

A difference between life and non life insurance

first non life insurance company in india

Write down a note on origin and growth of non-life insurance in India. (2024)

Origin and Growth of Non-Life Insurance in India

Meaning of Non-Life Insurance

Non-life insurance, also known as general insurance which is not concerned with life. In other words it refers to insurance policies that provide protection against losses or damages to property, assets, or liability risks, other than life is called non-life insurance. It covers financial risks arising from accidents, natural calamities, theft, fire, health issues, and other contingencies for a specified period, usually one year.

First non life insurance company in india

The life business was started in 1818 in Kolkata with the establishment of Oriental Life Insurance Company. The first non-life insurance company was not set up until 32 years later. Its name was Triton Insurance, a company founded by a British organization in Calcutta.

Key Points:

  • It provides protection for indemnity (compensation) for losses or damages incurred for the policy taken.
  • The insurance covers tangible assets like vehicles, homes, goods, and health.
  • The policyholder pays a premium, and the insurer compensates for the actual loss suffered, subject to policy terms.
  • So It does not cover life or death risks of being. (those fall under life insurance).

Examples of Non-Life Insurance:

  • Motor Insurance
  • Health Insurance
  • Fire Insurance
  • Marine Insurance
  • Travel Insurance
  • Liability Insurance

In short:

Non-life insurance protects individual’s property and businesses from financial losses caused by uncertain events which can’t be measured in advance, other than death or survival, by providing compensation for damage or loss to property, health, or liability.

Origin of Non-Life Insurance in India

  • Early Beginnings: Non-life insurance in India dates back to the 19th century during British rule. Initially, the market was dominated by foreign insurers mainly from Britain. first non life insurance company in india
  • First Indian Insurance Company: The first Indian insurance company offering non-life insurance was Oriental Insurance Company, established in 1947.
  • Regulation Era: Before independence, non-life insurance was largely unorganized with limited reach and awareness among the Indian population. first non life insurance company in india

Development and Growth

Pre-nationalization Period

  • Several private and foreign companies operated in non-life insurance.
  • The sector was fragmented and lacked uniform regulation.
  • It has Limited penetration and scope as mainly confined to urban and industrial areas.

Nationalization of General Insurance (1972)

  • The Government of India nationalized the general insurance business through the General Insurance Business (Nationalisation) Act, 1972.
  • Four major insurance companies were formed:
    • National Insurance Company
    • New India Assurance Company
    • Oriental Insurance Company
    • United India Insurance Company
  • The General Insurance Corporation of India (GIC) was established as the holding company and reinsurer. first non life insurance company in india
  • This move aimed at improving penetration, spreading awareness, and making insurance affordable.

Post-nationalization Era

  • The sector witnessed steady growth in terms of policyholders and products.
  • Focus was on protecting farmers, rural sectors, and small industries.
  • Insurance became a tool for social security and risk management for the living being and non-life things.

Liberalization and Privatization (From 2000s)

  • The Insurance Regulatory and Development Authority (IRDA) Act, 1999 opened the market to private players. first non life insurance company in india
  • Entry of private and foreign insurers increased competition, product innovation, and customer service.
  • Non-life insurance products expanded to cover automobiles, health, property, marine, liability, and specialized insurance.
  • Technology and digitalization boosted accessibility and convenience. first non life insurance company in india

Current Scenario

  • The Indian non-life insurance market is rapidly growing due to business awareness and cost management:
    • Increasing awareness and demand for health, motor, and property insurance plays an important role for growing insurance.
    • Government schemes like Pradhan Mantri Fasal Bima Yojana also play a crucial role for the growth of Insurance (crop insurance).
    • Expansion into rural and semi-urban markets. first non life insurance company in india
  • Presence of multiple players including public sector companies, private insurers, and foreign companies.
  • Increasing use of technology for underwriting, claims, and customer engagement.

Conclusion

Non-life insurance in India has evolved from a fragmented colonial-era market to a regulated, competitive, and growing industry. Nationalization laid the foundation for widespread coverage, while liberalization opened the doors to innovation and efficiency. Today, the sector plays a vital role in risk management for individuals, businesses, and the economy at large. You can check the syllabus of Banking and Insurance on the official Website of Gndu. first non life insurance company in india

Important questions of Banking and Insurance

  1. Different types of Insurance policies.

different types of insurance policies

What are different types of insurance contracts offered in the Indian Market? (2024)

Different Types of Insurance Contracts Offered in the Indian Market.

Insurance contracts can vastly be classified into two main categories: Life Insurance Contracts and Non-Life (General) Insurance Contracts in India. Each category has various types tailored to meet diverse needs. different types of insurance policies

1. Life Insurance Contracts

Life insurance provides financial security against the risk of death as well as offers savings/investment benefits.

Types:

  • Term Insurance
    Provides pure risk cover for a certain term.
    Pays sum assured only on death during the term.
  • Whole Life Insurance
    Covers the insured for their entire life.
    It is Paid the sum assured on death whenever it occurs.
  • Endowment Policies
    Provides insurance cover plus savings.
    Pays sum assured on death or maturity. different types of insurance policies
  • Money Back Policies
    Periodic survival benefits during the policy term.
    Final payout on maturity or death.
  • Unit Linked Insurance Plans (ULIPs)
    Combines insurance with investment.
    Premium partly invested in market-linked funds.
  • Pension/Annuity Plans
    Provides regular income after retirement. different types of insurance policies
  • Child Plans
    Savings and insurance for a child’s future needs.
  • Group Life Insurance
    Covers a whole group, like the employees of a company. different types of insurance policies

2. Non-Life (General) Insurance Contracts

These contracts cover losses or damages other than life, generally for a short term (usually one year).

Types:

  • Health Insurance
    This
    Covers medical expenses due to illness or injury to the concerned person. different types of insurance policies
  • Motor Insurance
    Covers damage to vehicles and third-party liabilities.
  • Fire Insurance
    This type of insurance covers loss or damage due to fire and allied risks.
  • Marine Insurance
    This type insurance covers loss or damage to cargo, ships, and goods in transit.
  • Travel Insurance
    Covers risks during travel such as medical emergencies, loss of baggage.
  • Personal Accident Insurance
    Provides compensation for accidental death or disability.
  • Home Insurance
    Covers damages to the home structure and contents.
  • Liability Insurance
    This type of Insurance covers legal liabilities arising from injury or property damage to third parties. different types of insurance policies
  • Crop Insurance
    Protects farmers against crop failure due to natural calamities.
  • Miscellaneous Insurance
    Includes burglary, theft, engineering insurance, etc.

3. Specialized Insurance Products

  • Microinsurance
    Low premium insurance products for low-income groups.
  • Group Insurance
    Coverage for groups like employees or association members.
  • Credit Insurance
    Covers defaults on loans or credit facilities.

Summary

Category

Type

Purpose

Life Insurance

Term, Whole Life, Endowment, ULIPs, Money Back, Pension Plans, Child Plans

Protection against death & savings/investment

Non-Life Insurance

This type of Insurance involves Health, Motor, Fire, Marine, Travel, Personal Accident, Home, Liability, Crop Insurance

Protection against losses/damages to property, health, liabilities

In the Indian insurance market, various types of insurance contracts serve different purposes and customer needs. Here’s a conclusion summarizing the nature, scope, and significance of different contracts of insurance in India: different types of insurance policies

Conclusion on Different Contracts of Insurance in the Indian Market

The Indian insurance market is diverse and dynamic, comprising a wide range of insurance contracts tailored to protect individuals and businesses against various risks. These contracts, governed by principles such as utmost good faith, insurable interest, indemnity, and contribution, are broadly classified into life insurance, general insurance, and health insurance.

Life insurance contracts offer financial security against the risk of death or survival beyond a certain age. They not only provide risk coverage but also act as savings and investment instruments. These well known contracts include term insurance, endowment plans, whole life policies, and unit-linked insurance plans (ULIPs). You can find the syllabus of Banking and Insurance on the official Website of gndu.

General insurance contracts involve non-life risks such as damage to property, liability, and travel. These include motor insurance, home insurance, fire insurance, marine insurance, and liability insurance. These contracts provide indemnity-based protection, helping individuals and enterprises mitigate financial losses due to unforeseen events.

Health insurance contracts have seen significant growth due to increasing awareness about health insurance and rising medical costs. These policies cover hospitalization expenses, critical illnesses, and pre- and post-hospitalization care, offering financial relief during medical emergencies.

The Indian insurance sector is regulated by the Insurance Regulatory and Development Authority of India (IRDAI), which ensures transparency, customer protection, and financial stability of the market.

In conclusion, insurance contracts in India play an important role in fostering financial inclusion, risk management, and economic stability in the country. . As the market evolves with digital transformation and increasing penetration, the scope and customization of insurance contracts continue to expand, catering to the diverse and growing needs of India’s population.

Important question of Banking and Insurance

  1. Difference between life Insurance and Non-life insurance.

different types of insurance policies

difference between cost accounting and financial accounting

Define cost accounting along with its objectives. Differentiate between cost accounting and financial accounting. (

Meaning of Cost Accounting

Cost accounting is a branch of accounting that focuses on recording, analyzing, and controlling a company’s costs. It helps businesses determine the cost of production, services, and operations to improve efficiency and profitability. difference between cost accounting and financial accounting
Meaning of Financial Accounting

Financial accounting is the process of recording, summarizing, and reporting a company’s financial transactions to provide an accurate picture of its financial position and performance. It follows standardized principles such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) to ensure transparency and consistency. difference between cost accounting and financial accounting

Cost accounting and financial accounting serve different purposes in business. Here’s a breakdown of their key differences:

1. Purpose:
  • Cost Accounting: Focuses on tracking, analyzing, and controlling costs to improve efficiency and decision-making within an organization.
  • Financial Accounting: Focuses on recording, summarizing, and reporting financial transactions to external stakeholders like investors, creditors, suppliers and regulators.
2. Users:
  • Cost Accounting: Used by internal management for planning, budgeting, price determined and cost control.
  • Financial Accounting: Used by external parties such as investors, tax authorities, suppliers and regulatory agencies.

3. Reporting Format:

  • Cost Accounting: No fixed format is mentioned and reports are customized, rather it is based on management needs.
  • Financial Accounting: Follows standardized formats as per accounting standards (GAAP, IFRS, etc.). difference between cost accounting and financial accounting

4. Timeframe:

  • Cost Accounting: Provides real-time or frequent reports to help with decision-making for the management.
  • Financial Accounting: Financial Reports are usually prepared periodically (monthly, quarterly, or annually).

5. Legal Requirement:

  • Cost Accounting: No mandatory requirements are mentioned which is to follow; Rather it is used voluntarily for internal efficiency by the management.
  • Financial Accounting: Mandatory for businesses to comply with legal and regulatory requirements. difference between cost accounting and financial accounting

6. Focus Area:

  • Cost Accounting: Focuses on product costing, cost control, and cost reduction.
  • Financial Accounting: Focuses on profitability, financial position, and compliance.

7. Components:

  • Cost Accounting: Includes cost analysis, standard costing, marginal costing, and budgetary control.
  • Financial Accounting: Includes balance sheets, income statements, and cash flow statements.

8. Valuation of Inventory:

  • Cost Accounting: Uses various methods like FIFO, LIFO, or standard costing based on internal policies.
  • Financial Accounting: Follows prescribed accounting standards for inventory valuation. difference between cost accounting and financial accounting

Cost Accounting is a branch of accounting that deals with recording, classifying, analyzing, summarizing, and allocating costs associated with a process, product, or service. It helps businesses understand the cost structure and control expenses to enhance profitability and efficiency.

Objectives of Cost Accounting:

  1. Cost Control: Identify areas where costs can be minimized and apply corrective measures.
  2. Cost Ascertainment: Determine the cost of products, services, or processes accurately.
  3. Profitability Analysis: Analyze profitability by comparing costs and revenues.
  4. Inventory Valuation: Help in valuing inventories of raw materials, work-in-progress, and finished goods.
  5. Decision Making: Provide data for planning and strategic decisions like pricing, outsourcing, and budgeting.
  6. Budgeting: Aid in preparing budgets and evaluating performance against them.
  7. Cost Reduction: Discover long-term cost-saving opportunities without compromising quality. difference between cost accounting and financial accounting

Conclusion:

Cost accounting helps businesses control costs and improve operations, while financial accounting ensures transparency and compliance with regulations. Both are crucial for a company’s financial health and decision-making. You can find the syllabus of cost Accounting on the official website of Gndu. However, there are mismatch in their entry system. Because some things are involved in financial accounting and while some other other items are involved in cost Accounting.

  1. What is marginal cost example.
  2. Objective of budgetary control.

difference between cost accounting and financial accounting

what is marginal cost example?

Give managerial application of marginal costing. Support your answer with practical illustrations.(2021)
Managerial Applications of Marginal Costing

Marginal costing is a costing technique where only variable costs (costs that change with the level of production) are considered when determining the cost of a product, while fixed costs (Which costs do not change with production level) are considered as period costs. This method provides valuable insights for decision-making in various managerial applications. what is marginal cost example?

Here are some key managerial applications of marginal costing, supported by practical illustrations:

1. Decision-Making for Pricing

Application:
Marginal costing helps managers determine the minimum price at which a product should be sold to cover variable costs and make a contribution toward covering fixed costs.

Practical Illustration:

A company manufactures a units with the following costs:

  • Variable cost per unit: ₹100
  • Fixed costs: ₹20,000 per month
  • Monthly production: 500 units

The company would like to know the minimum price at which the product should be sold to break even for the purpose of market capture.

Calculation:

  • Total variable cost = ₹100 × 500 = ₹50,000
  • To break even, the company needs to cover the fixed costs of ₹20,000. Therefore, the price should be set higher than ₹100 to contribute to the fixed costs. what is marginal cost example?

Breakeven price per unit:

Price=Variable cost per unit +(Fixed costs÷ Units produced) =100+(20,000÷500) =100+40=₹140

Thus, the company must sell the product for at least ₹140 to cover both variable as well as fixed costs. what is marginal cost example?

2. Product Mix Decisions

Application:
Marginal costing helps in deciding the most profitable product mix when there are constraints on resources, such as labor or machine time. Managers can choose the combination of products that maximizes contribution margin per unit of the scarce resource. what is marginal cost example?

Practical Illustration:

A company manufactures two products, A and B, with the following data:

Product

Contribution Margin per Unit

Time Required per Unit (Hours)

Available Time (Hours)

A

₹50

2

100

B

₹30

1

100

The company has 200 hours of machine time available each month.

Decision:

  • The contribution margin per hour of product A = ₹50 / 2 = ₹25
  • The contribution margin per hour of product B = ₹30 / 1 = ₹30

Thus product B earns a higher contribution margin per hour, thus company must produce product B for the purpose of maximising profits. what is marginal cost example?

3. Profitability Analysis and Break-even Analysis

Application:
Managers use marginal costing to conduct break-even analysis to determine the sales volume needed to cover total costs. This analysis helps in setting sales targets and understanding the financial viability of the business. what is marginal cost example?

Practical Illustration:

A company produces and sells a product with the following data:

  • Selling price per unit: ₹200
  • Variable cost per unit: ₹120
  • Fixed costs: ₹60,000

Break-even Point (BEP): The BEP is the point at which total revenue equals the total costs which includes (fixed + variable), meaning where there is no profit or loss for the organisation.

BEP (in units)=Fixed CostsSelling Price per unit−Variable Cost per

BEP=60,000200−120=60,00080=750 units

So, the company needs to sell 750 units to break even. If Sales occurs beyond this point will contribute to profit.

4. Make or Buy Decisions

Application:
Marginal costing is very helpful in business. Which helps managers in deciding whether to manufacture a product in-house or buy it from an external supplier, which one will be beneficial to the organization. So based on the comparison of the cost of manufacturing versus the cost of purchasing, Thus the decision will be taken by the manager.

Practical Illustration:

A company produces a component in-house with the following costs:

  • Variable cost per unit: ₹50
  • Fixed costs: ₹30,000 per month
  • Number of units produced: 2,000

An external supplier offers to sell the component for ₹70 per unit.

Cost of Manufacturing (in-house):

  • Total variable cost = ₹50 × 2,000 = ₹1,00,000
  • Fixed costs = ₹30,000
  • Total cost = ₹1,00,000 + ₹30,000 = ₹1,30,000

Cost of Purchasing (external):

  • Cost of buying = ₹70 × 2,000 = ₹1,40,000

Since the total cost of manufacturing (₹1,30,000) is less than the total cost of buying (₹1,40,000), it is more cost-effective to produce the component in-house. what is marginal cost example?

5. Contribution Margin Analysis for Decision-Making

Application:
Managers use marginal costing to analyze the contribution margin of different products or services to understand how much each product contributes to covering fixed costs and generating profit.

Practical Illustration:

A company manufactures three products with the following data:

Product

Selling Price

Variable Cost

Contribution Margin

A

₹500

₹300

₹200

B

₹600

₹400

₹200

C

₹700

₹500

₹200

The company needs to decide which product to focus on.

Decision: All products have the same contribution margin (₹200), but managers should also consider factors like sales volume, production capacity, and customer demand when making the final decision. Marginal costing allows for easy comparison and helps prioritize high-margin products if there is limited capacity. what is marginal cost example?

6. Cost Control and Reducing Wastage

Application:
Marginal costing can be used to identify inefficiencies and control costs by focusing only on variable costs. Managers can monitor these costs closely and take corrective actions to minimize waste and inefficiencies.

Practical Illustration:

A company observes that its variable costs for raw materials have increased by 10% over the last month. Using marginal costing, the company identifies the exact areas where waste is occurring, such as excessive spoilage during production. As a result, the company takes corrective action to reduce waste and improve efficiency, lowering variable costs in the future. What is marginal cost example?

Conclusion:

Marginal costing is a powerful tool that helps managers make key decisions such as setting prices, evaluating product mix, conducting break-even analysis, deciding whether to make or buy, and controlling costs. By focusing on variable costs and the contribution margin, marginal costing provides actionable insights that can significantly improve profitability and operational efficiency. You can find the syllabus of Cost Accounting on the official website under Gndu.

Essential questions of Cost Accounting

  1. Budget and Budgetary control notes
  2. Ascertainment of Profit on Contracts nearing completion.

what is marginal cost example?

Discuss classification of costs.Write notes on: Ascertainment of profit on contracts nearing completion
(a) Ascertainment of profit on completed contracts
(b) Ascertainment of profit on contracts nearing completion.(2021)
Classification of Costs

Costs can be classified in several ways based on their nature, behavior, function, and how they relate to specific projects or activities. Ascertainment of profit on contracts nearing completion Here’s an overview of the major classifications:

  1. Based on Nature:
    1. Fixed Costs: Fixed costs are unchanged regardless of production or activity in the organiza (e.g., rent, salaries).
    2. Variable Costs: Vary directly with the level of production or activity (e.g., raw materials, direct labor). Ascertainment of profit on contracts nearing completion
    3. Semi-Variable Costs: Costs that have both fixed and variable components (e.g., electricity bills, which have a fixed base charge and a variable usage charge).
  2. Based on Function:
    1. Production Costs: Costs directly related to the production of goods or services (e.g., raw materials, direct labor).Ascertainment of profit on contracts nearing completion
    2. Administrative Costs: These Costs are concerned with the administration and management of the business Who manage tasks as per the planning done ( e.g., office salaries, utilities ).
    3. Selling & Distribution Costs: Costs related to marketing, sales, and distribution (e.g., advertising, transportation).
    4. Finance Costs: Costs related to financing the business, such as interest on loans.Ascertainment of profit on contracts nearing completion
  3. Based on Behavior:
    1. Direct Costs: These costs Can be found directly within a specific product, department, or project (e.g., direct materials, direct labor).
    2. Indirect Costs (Overheads): These costs can’t be found directly from a product, project, or department (e.g., utilities, rent, office supplies).
  4. Based on Traceability:
    1. Product Costs: These costs are concerned with the production of goods, and it involves direct costs as well as a portion of indirect costs (e.g., direct material, direct labor).
    2. Period Costs: Not directly related to production but incurred for a specific period (e.g., administrative expenses, marketing costs). Ascertainment of profit on contracts nearing completion
  5. Based on Relevance to Decision Making:
    1. Sunk Costs: Which Costs have been incurred and these can’t be recorded. (e.g., past investments).
    2. Relevant Costs: Which Costs can be changed as per the changing decision making. (e.g., incremental costs due to additional production). Ascertainment of profit on contracts nearing completion
    3. Opportunity Costs: When investors have many best alternatives for the opportunity to invest. What is the best plan. Ascertainment of profit on contracts nearing completion
(a) Ascertainment of Profit on Completed Contracts

Ascertainment of profit on completed contracts involves determining the profit earned from a contract after it has been fully completed. This method is commonly used in industries like construction, where long-term contracts are executed over multiple years.

Steps for Ascertainment of Profit:
  1. Revenue Recognition: The total contract revenue (price agreed upon in the contract) is recognized as income when the contract is completed.
  2. Cost Allocation: All costs related to the contract (direct and indirect) are charged to the contract. This includes:
    • Direct costs: Materials, labor, etc. Ascertainment of profit on contracts nearing completion
    • Indirect costs: Overheads allocated to the project.
  3. Profit Calculation: Profit is calculated as:
    Profit = Revenue from Contract−Total Costs Incurred
    Once all costs have been accounted for and the contract is completed, the profit is realized. The entire profit from the contract is recognized at this point.
  4. Journal Entries:
    • Revenue is recognized as income when the contract is completed.
    • All costs incurred during the contract execution are accounted for under expense accounts. Ascertainment of profit on contracts nearing completion
(b) Ascertainment of Profit on Contracts Nearing Completion

For contracts that are nearing completion, the percentage-of-completion method is typically used to ascertain profits. This method estimates the profit based on the progress made on the contract, even before it is completed.

Steps for Ascertainment of Profit (Near Completion):

  1. Determine the Progress of the Contract: The degree of completion is estimated by comparing the costs incurred to date with the total estimated costs of the contract. A common approach is:
    Percentage of Completion =Costs Incurred to DateTotal Estimated Costs\Percentage of Completion
  2. Revenue and Profit Recognition: Based on the percentage of completion, a corresponding percentage of the contract’s total revenue and profit is recognized. For example, if the contract is 80% complete, 80% of the expected revenue and 80% of the expected profit can be recognized. Ascertainment of profit on contracts nearing completion
  3. Profit Calculation: The profit recognized at any point during the contract is:
    Recognized Profit =Total Revenue×Percentage of Completion−Total Costs Incurred
    This approach helps spread the recognition of profit over the life of the contract, even if the contract is still not fully completed. So in this “Estimated Profit” can be find as

Estimated Profit

Estimated Cost

Estimated Profit On Completion

  1. Journal Entries:
    • Revenue is recognized as the contract progresses, based on the percentage of completion.
    • Costs are recorded as incurred. Ascertainment of profit on contracts nearing completion
    • Adjustments are made for any changes in estimated total costs or revenue.
Conclusion:
  • Profit on Completed Contracts is determined at the completion of the contract by comparing total contract revenue with total costs incurred, resulting in a clear and final profit figure. Ascertainment of profit on contracts nearing completion
  • Profit on Contracts Nearing Completion uses the percentage-of-completion method, which estimates profits based on the progress made so far, offering a more timely reflection of the contract’s financial performance before it is fully completed.

Both methods ensure that companies in industries like construction or long-term projects can recognize and report their profits in a systematic and reasonable manner, depending on the stage of the contract. You can find the syllabus on the official website of gndu.

Essential Questions of Cost Accounting

  1. Budget and Budgetary control notes.
  2. Objective of budgetary control.

Ascertainment of profit on contracts nearing completion