Configuration of Holidays and Working Days!
The Holiday Management feature provides financial institutions with the flexibility to manage interest collection during holidays and working days. Institutions can adjust interest rates on holidays, either applying standard rates or waiving them entirely. Additionally, this feature allows them to configure working days by excluding weekends or other non-working days, ensuring alignment with operational policies.
Steps:
- Go to Settings: Navigate to the “Settings” section.
- Select Policies: Click on “Policies” from the menu.
- Access Holidays Tab: Click on the “Holidays” tab.
- Set Working Days: Check the boxes for each respective day to designate as working days.
- Add Holidays:
- Click the “Add Holidays” button.
- Enter the holiday’s name and select the corresponding date.
- Click “Save” to confirm the holiday addition.
This allows admins to manage and preset working days and holidays efficiently.
Key Benefits
- Streamlines interest rate adjustments during holidays.
- Offers flexibility in defining operational working days.
- Reduces manual intervention by automating holiday configurations.