sapana created FINERACT-687:
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Summary: Automatic application of Late Penalty should not happen
in certain scenarios
Key: FINERACT-687
URL: https://issues.apache.org/jira/browse/FINERACT-687
Project: Apache Fineract
Issue Type: New Feature
Components: Loan
Affects Versions: 1.1.0
Reporter: sapana
Currently, late penalty charges are applied automatically depending on
chargeTime configuration if the loan is not closed. However, in following
scenarios, we should be able to configure if late penalty should be applied or
not:
1. Outstanding amount for Loan is within arrears limit
2. Loan is in NPA
Also, there are regulatory requirements stating sum of all charges levied on
loan cant be greater than x%loan principal value
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