Hi Saransh, When the account is overdue/arrears penalties are applied based on the arrears and penalty definition. When the account is overdue/NPA , penalties should not be applied.
On Fri, Jun 21, 2019 at 2:01 PM Saransh Sharma <[email protected]> wrote: > Hi, I have a question > > 1. When the account is overdue then it should stop applying fees/penalties > and charges > 2. In case of NPA also when in. applying penalties (automatic) one. > > On Thu, Jun 13, 2019 at 12:22 AM Zayyad A. Said < > [email protected]> wrote: > >> That’s great to hear that it can be fixed asap. >> >> >> >> Will appreciate if we can get a quick fix for it, our clients are really >> frustrated on this. >> >> >> >> Regards; >> >> >> >> ********* >> >> *Zayyad A. Said | Chairman & C.E.O* >> >> >> >> Cell No.: +254 716 615274 | Skype: *zsaid2011* >> >> Email: [email protected] >> >> Schedule Meetings: https://calendly.com/zayyadsaid >> >> [image: Description: Email banner] >> >> >> >> *From:* Saransh Sharma [mailto:[email protected]] >> *Sent:* 12 June 2019 04:25 PM >> *To:* Dev; Mexina Daniel >> *Cc:* Zayyad A. Said; Mifos software development >> *Subject:* Re: [Mifos-developer] Overdues for NPA >> >> >> >> I think I can fix this issue asap. >> >> >> >> On Wed, 12 Jun 2019, 17:50 Mexina Daniel, <[email protected]> wrote: >> >> Hello Zayyad >> >> this issue has already been reported on this ticket >> https://issues.apache.org/jira/browse/FINERACT-687 >> >> Best Regards >> >> On June 12, 2019 at 1:52 AM "Zayyad A. Said" < >> [email protected]> wrote: >> >> Hello Devs, >> >> >> >> In loan products configuration there is an option to define overdue days >> for a loan to be classified as Non-Performing Asset (NPA). >> >> >> >> >> >> In my understanding and from my knowledge of the industry, a loan that >> has been classified as NPA doesn’t attract any more charges or penalties >> and the FI normally does effort to recover what’s due so that the loan can >> either be reclassified as Performing or Closed. I want to believe this was >> also the main reason of having this option in Mifos X. >> >> >> >> To my surprise, the system still charges interest & penalties even when a >> loan has been overdue for more days than what has been specified as NPA at >> the product level. >> >> >> >> Is this a bug or there is a configuration missing which should stop >> further accruals? >> >> >> >> I have observed this in both versions 17.07.01 and 18.03.01 and the >> behaviour is just the same. >> >> >> >> Could anyone who has successfully manage to get this feature working for >> them come forward and advise how they configured the product. >> >> >> >> If it’s a bug, how can we get it resolved? We have a number of our >> clients struggling with penalty accruals and waiving the same is a very >> tedious exercise as they have to do it one by one. >> >> >> >> Regards; >> >> >> >> ********* >> >> *Zayyad A. Said | Chairman & C.E.O* >> >> >> >> Cell No.: +254 716 615274 | Skype: *zsaid2011* >> >> Email: [email protected] >> >> Schedule Meetings: https://calendly.com/zayyadsaid >> >> [image: Description: Email banner] >> >> >> >> >> >> >> Mifos-developer mailing list >> [email protected] >> Unsubscribe or change settings at: >> https://lists.sourceforge.net/lists/listinfo/mifos-developer >> >> > > -- > > > Saransh Sharma > > > > ---------------------------------------------------------------------------------------------- > > The idea of separation of me and you is amazing. > > ---------------------------------------------------------------------------------------------- > > > -- Thanks & Regards Santosh Math *QA Engineer* *Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>* | *Office*: +91-080-41208662 | *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA
