Saransh, Penalties are applied when scheduler job is run if the loan account is applied with penalty fee. I am just trying to say the difference between loan in arrears and loan in NPA.
On Fri, Jun 21, 2019 at 3:00 PM Saransh Sharma <[email protected]> wrote: > Are you referring to automatic penalties? > > On Fri, 21 Jun 2019, 14:50 Santosh Math, <[email protected]> > wrote: > >> 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 >> > -- 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
