RD loan account payoff done through cash receipt in Finacle

This error will be thrown in offices migrated in the middle of the month. (ie on or after 2^nd)

In case of Loan Disbursement or Loan Repayment the value date will be automatically changed to 01^st of the month as interest is calculated from the 1^st of the month for loans. As Cash account of that office will not be available as on 1^st (since the office has migrated in the middle of the month) this error is thrown in Supervisor while verification. This error will be thrown only in the month of migration and from 2^nd month cash be used for repayment or disbursement.

Workaround to overcome this error

“In case of Loan disbursement – Instead of Cash (even if it is below Rs.20,000) select Transfer and show RD Loan Disburement office account (Account number ending with 323) and pay by cheque or cash from this office account. ( CTM menu is to be used for this )

In case of Loan repayment – Instead of repaying through cash accept loan repayment through Transfer. Transfer can be from RD Loan Repayment office Account (Account number ending with 323) or SB account of customer (if available) (CTM Menu to be used for this).