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CL:ARVN:Automatic Rate Revision Not Triggered For Accounts. (Doc ID 2834203.1)

Last updated on JANUARY 27, 2022

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.0.3 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
An automatic rate revision is applied on interest rate for the product TFF1. In CFDFLTRI screen, a rate change of 7.5 is devised with effective date of 07/09/2021 for Rate code COF_LEN. But when the accruals are posted, the rate is not changed on the effective date. The former automatic rate revision of 8.02 is fired. This rate of 8.02 is used for the rest of schedules for calculating the accruals.

EXPECTED BEHAVIOR
-----------------------
System should pick the automatic rate revision of 7.5 for effective date 07/09/2021.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. During the contract booking, specify the rate code as COF_LEN and rate usage as automatic.
2. Specify a rate revision in CFDFLTRI for some effective date and take the branch to that date.
3. Rate revision is not fired on effective date

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, Incorrect Interest is collected.

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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