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Profit of LD Contract is not recalculated after Extending the Maturity date (Doc ID 2696103.1)

Last updated on AUGUST 04, 2020

Applies to:

Oracle FLEXCUBE Universal Banking - Version 6.3 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Profit for Wakala Loan contract is not recomputed after extending the Maturity date

EXPECTED BEHAVIOR
-----------------------
Profit amount must be recalculated and shown in due as per the new tenor of the Contract

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Perform VAMI to extend maturity date of an Active Wakala Contract
2. Authorize the VAMI
3. Verify if profit is recomputed for the new tenor of the contract

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, Profit due for the Wakala contract is shown as lesser than the expected, thus impacting for loss to Bank

Changes

 Extension of Maturity date has been done through CAMD from LDDCOMNT Screen instead of VAMI Screen LDVAMND

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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