When loan is overdue which can be defined as part of arrears tolerance. I am wondering if out of arrears I can stop penalty
On Fri, 21 Jun 2019, 15:07 Santosh Math, <[email protected]> wrote: > 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 >
