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Prepayment of Murabha loan not updating Principal schedule as settled (Doc ID 2664120.1)

Last updated on JUNE 21, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 14.2.0.0.0 and later
Information in this document applies to any platform.

Symptoms

On : 14.2.0.0.0 version, Implementation Support

ACTUAL BEHAVIOR
---------------
On prepayment of Murabha loan account, Schedules for Principal is not marked as Settled and Outstanding principal is not getting recalculated


EXPECTED BEHAVIOR
-----------------------
Principal outstanding should be derived correctly after every prepayment of Loan

Simulation Steps
-----------------------
1. Perform prepayment of a Murabha loan account
2. Authorize the payment
3. Now re query the loan account and verify if corresponding schedules are marked as settled
4. Verify if principal outstanding is reflecting correctly


BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users are unable to verify the actual Principal outstanding for the loan having financial impact

Cause

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In this Document
Symptoms
Cause
Solution
References


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