Incorrect Debit Interest Charged
(Doc ID 2552203.1)
Last updated on FEBRUARY 01, 2021
Applies to:Oracle FLEXCUBE Universal Banking - Version 11.1 and later
Information in this document applies to any platform.
Debit Interest charged incorrectly on a particular account. Reported account had a debit of 1010500.000 on 4/2/2019, for e.g., where account went in negative of -996683.550 and next day account has been credited with 1010500.000. But system has accrued for this account till 15th Apr 2019 and considered 13days as OD days to compute debit interest charge of 4735.700 for the penal rate 13%. Ideally it should have charged only for 1 day which is suppose to be 355.000.
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