Loan Adhoc Refund

User can initiate a loan adhoc refund for a loan account using the Loan Adhoc Refund screen.

An adhoc refund is performed when there is an erroneous error done by the system or some error done by user. User can do adhoc refund only for the accounts for which disbursement is performed.

To initiate loan adhoc refund:

Note:

The fields marked as Required are mandatory.
  1. On the Homepage, from Retail Lending Services mega menu, under Accounts, click Loan Adhoc Refund. User can also open the screen by specifying Loan Adhoc Refund in the search bar and selecting the screen.
    The Loan Adhoc Refund screen is displayed.

    Figure 3-24 Loan Adhoc Refund

    Description of Figure 3-24 follows
    Description of "Figure 3-24 Loan Adhoc Refund "
  2. On the Loan Adhoc Refund screen, click the Search icon or specify the account number in the Account Number field, and press Tab or Enter. For more information on search, refer Fetch Account Number.
    The details are displayed in the Loan Adhoc Refund tab.

    Figure 3-25 Loan Adhoc Refund tab

    Description of Figure 3-25 follows
    Description of "Figure 3-25 Loan Adhoc Refund tab"
  3. On the Loan Adhoc Refund tab, perform the action for initiating the loan adhoc refund. For more information on fields, refer to field description table below:

    Table 3-14 Loan Adhoc Refund tab – Field Description

    Field Description
    Account Number Click the Search icon and select the account number or specify the account number for initiating the adhoc refund.

    Note: As user specify the account number, the name of the account holder appears next to the account number.

    Value Date Specify the value date for performing the transaction.

    Note: By default, the current posting date is displayed in this field. If required, user can specify a back or future date.

    Refund Type Select the type of adhoc refund to be performed.
    Refund Nature Displays the nature of refund present for the loan account.
    Refund Amount Specify the refund amount corresponding to the refund nature.
    Total Displays the total of the Refund Amount field.
  4. Click Next.

    The Payout tab is displayed. For more information on this tab, refer Payout through CASA and Payout through Ledger.

  5. Click Submit.
    The transaction is submitted for authorization.