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Adding Stock Statement - CC Accounts Application of Penal Interest
Adding Stock Statement - CC Accounts Application of Penal Interest
Adding Stock Statement - CC Accounts Application of Penal Interest
1. For adding monthly stock statement for CC accounts, in HACLHM menu the
DRAWING POWER INDICATOR → Derived.
3. It will go to 2nd Screen. In the Particulars tab → Enter the received Date. System
will substitute the collateral ID and on verification it will generate new Collateral
ID with the same values and other details. Next due date will be automatically
changed to the next due date as given in HCLM while creating the collateral. (i.e.
if statement frequency given as MONTHLY and start date given as 10.01.2016,
then system will automatically change the next due date as 10.02.2016).
4. If user wants to change the security value of the stocks or book debts, same can
be changed using MODIFY option.
5. Every month the same can be done to add the stock statement and DP will be
arrived based on the value.
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APPLICATION OF PENAL INTEREST FOR STOCK STATEMENT
NOT RECEIVED ON DUE DATE
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For application of penal interest whenever borrowers are not submitting the stock
statement on due date, please do the following procedure.
2. While adding the collateral ID in HCLM menu, apply Penal Interest should be given
as YES. During Substitution, system will not allow to modify any other field. After
substitution, modification can be done to change any other fields.
4. Then during interest application system will apply the penal interest for delay in
submission of stock statement.
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