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Posted to issues@fineract.apache.org by "sapana (JIRA)" <ji...@apache.org> on 2019/01/01 09:01:00 UTC

[jira] [Created] (FINERACT-687) Automatic application of Late Penalty should not happen in certain scenarios

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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