>>t is "Expected disbursement on" date. This does not appear to be the date that the loan is actually disbursed.
While approving a loan , the user sets the approved date and the date on which he expects the loan to be disbursed to the customer. The expected disbursal date can be in the future or the past, but must be after the approval date. The suggested loan repayment schedule is calculated based on this date.
When actually disbursing the loan, which is usually done by a different user after the loan has been approved, the disbursement date is updated (this date has to be after the approval date and on or before today's date). The repayment schedule etc is now recalculated based on the actual disbursal date.
Defaulting the the suggested disbursal date to the "Expected disbursal date" while disbursing the loan might have made the workflow clearer , but defaulting the disbursal date to todays date probably works better (as most organizations would do their data entry on a day to day basis and past dated entries are relatively rare)
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