Ed, All, Ed in a previous thread: https://groups.google.com/forum/?fromgroups#!topic/mifosusers/hCswn7FS9DQ you mentioned how '...Adhikar had this same issue so it's clearly major priority for users in India due to the revised National Banking regulations...'
This is directly applicable to the work we are doing in Mifos X around supporting greater flexibiliity in 'Loan Management', specificially around the auto generation of loan schedules and how repayments should be processed. I would be interested in hearing more of what Adhihar and others require in this area. On the 'repayment processing' side I have recently put up simple implementations around this specific to a given MFI. I have also added a based 'repayment strategy' named 'RBI (India)'. To see it in action: (demo app url: https://ec2-46-137-62-163.eu-west-1.compute.amazonaws.com:8443/IndividualLendingGeneralJavaScript/IndivLendHome.html?tenantIdentifier=default) - go into any client on the demo, - submit new loan application (with disbursement date in the past, say a year) making sure to select RBI (India) as the repayment strategy type, - approve it, disburse it and - make a late payment against the loan (e.g. a payment on todays date, so a year late!) using an amount that is well below the full loan amount expected, you will see that all interest overdue and due is paid off first before any principal is paid off which is the bit i gleamed from https://mifosforge.jira.com/browse/MIFOS-5636 I am of course happy to walk through and talk about any of this with anyone that wants to. This also leads me onto the next area of work I will be focusing on around loans. To date, some of the smaller organisations trialling 'mifos x' have had no need of fees, charges or penalties functionality as they didnt use them. But its clearly something used by most MFIs inside and outside of the mifos community. So whilst we are aware of some of the needs of bigger MFIs we have spoken to such as GK, Enda & Al Majmoua (and will probably revisit soon again) if anyone else out there such as Adhikar wish to take a look at mifos x and indicate what they need, now is a good time to have that conversation as fees, charges or penalties are directly applicable to loan scheduling and repayment processing functionality. regards, Keith. ------------------------------------------------------------------------------ Live Security Virtual Conference Exclusive live event will cover all the ways today's security and threat landscape has changed and how IT managers can respond. Discussions will include endpoint security, mobile security and the latest in malware threats. http://www.accelacomm.com/jaw/sfrnl04242012/114/50122263/ _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
