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https://issues.apache.org/jira/browse/FINERACT-687?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Aleksandar Vidakovic updated FINERACT-687:
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Fix Version/s: 3.0.0
> Automatic application of Late Penalty should not happen in certain scenarios
> ----------------------------------------------------------------------------
>
> Key: FINERACT-687
> URL: https://issues.apache.org/jira/browse/FINERACT-687
> Project: Apache Fineract
> Issue Type: New Feature
> Components: Loan
> Affects Versions: 1.8.0
> Reporter: sapana
> Priority: Major
> Labels: gsoc2019, p1
> Fix For: 1.9.0, 3.0.0
>
>
> Currently, late penalty charges are applied automatically depending on
> chargeTime configuration if the loan is not closed. However, in following
> scenarios, we should be able to configure if late penalty should be applied
> or not:
> 1. Outstanding amount for Loan is within arrears limit
> 2. Loan is in NPA
> As a workaround, these charges can be waived, but it reflect in accounting
> journals which is not desired.
> Also, there are regulatory requirements stating sum of all charges levied on
> loan cant be greater than x%loan principal value.
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