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SYSTEM Is not deducting Penalty on Full Redemption of Term Deposit (Doc ID 2671813.1)

Last updated on JUNE 21, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.4.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Penalty is not deducted during redemption of a term deposit

EXPECTED BEHAVIOR
-----------------------
Bank has set up Penalty rule and attached to the TD which is expected to be deducted during redemption

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Pick a TD which is attached to the IC product where penalty rule is setup
2. Perform redemption of the TD
3. Verify the entries posted
4. Check if penalty is deducted based on the conditions setup in the rule

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, Penalty is not deducted during Term deposit redemption having financial impact to the Bank

Cause

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In this Document
Symptoms
Cause
Solution
References


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