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From "Shaik Nazeer Hussain (JIRA)" <j...@apache.org>
Subject [jira] [Resolved] (FINERACT-521) OD Limit Utilization - Insufficient funds to complete the transaction
Date Fri, 22 Sep 2017 08:27:00 GMT

     [ https://issues.apache.org/jira/browse/FINERACT-521?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]

Shaik Nazeer Hussain resolved FINERACT-521.
-------------------------------------------
       Resolution: Fixed
         Assignee: Santosh Math  (was: Markus Geiss)
    Fix Version/s: 1.1.0

> OD Limit Utilization - Insufficient funds to complete the transaction
> ---------------------------------------------------------------------
>
>                 Key: FINERACT-521
>                 URL: https://issues.apache.org/jira/browse/FINERACT-521
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Loan
>    Affects Versions: 1.0.0
>            Reporter: G S VIJAY RAAJAA
>            Assignee: Santosh Math
>             Fix For: 1.1.0
>
>         Attachments: Screen Shot 2017-09-08 at 1.29.56 PM.png, Screen Shot 2017-09-08
at 1.30.11 PM.png, Screen Shot 2017-09-08 at 1.30.20 PM.png, Screen Shot 2017-09-08 at 1.30.43
PM.png
>
>
> The following scenario would land up to the issue;
> Prerequisite :
> 1. Saving account : Over draft availability with net interest charge .
> 2. No positive interest on the balance of savings account.
> 3. Interest compounding period - Monthly
> 4. Interest is calculated using Daily Balance.
> Scenario:
> 1. In a overdraft setup where a limit is put to place, the user withdraws the overdraft
limit completely.
> 2. Post the overdraft interest posting, the negative balance further crosses him limit.

> 3. In this scenario, even when the user repays the outstanding due completely, he is
not able to withdraw from the Overdraft limit post this.
> Example :
> From the screenshots attached;
> The user has a overdraft limit of 71000 and is charged at 24% . On 01 September 2017
, the interest posting took place and the outstanding balance crossed his overdraft limit.
He also repaid the complete due and currently has a positive balance of 1027.23. As per the
setup he should be able to withdraw 71000 ( OD limit ) +1027.23 ( outstanding balance ). When
he withdraws RS:10 on 08 September 2017, the system throws Insufficient funds to complete
the transaction.



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