Loan Repayment Via PDC

Owned by Mounashree S (Unlicensed)
Last updated: Jul 26, 2017
2 min read



In banking, post dated cheque is a cheque written by the drawer (payer) for a date in the future. Whether a post-dated cheque may be cashed or deposited after the date written on it. In our product we facilitate two types of PDC

  1. Security PDC : Usually this kind of PDC is used to collect overall outstanding loan amount whenever the organization loose trust on their clients
  2. Repayment PDC : Repayment PDC are usually used to collect every loan repayment according to the repayment schedule

The Status Flow chart for understanding the life cycle of PDC (both PDC) is as follows 

PDC Status

#StatusActions AllowedDescription
1.Pending
  • Presented
  • Edit
  • Delete
  • Cancelled

Once the PDC is created, the status of the PDC will be defined as Pending and will be provided with four operations(buttons) to perform in this status.

  1. "Presented" button will be provided to mark the PDC as presented to the bank and this operation will result in the loan transaction.
  2. Edit button will be provided to edit the contents
  3. Delete button will be provided to delete wrong entries
  4. Cancelled button will be enabled to cancel the PDC

2.Presented
  • Cleared
  • Bounced
  • Undo
  • Edit

Once the PDC gets into presented state, will be provided with four operations to perform.

  1. "Cleared" button will be provided to mark the PDC as cleared.
  2. "Bounced" button will be provided to mark the PDC as bounced and this operation will result in the reversing the loan transaction happened when cheques are presented.
  3. Edit button will be provided to edit the contents
  4. Undo button will be provided to undo the presented operations i.e., to go back to the pending state and this operation will result in the reversing the loan transaction happened when cheques are presented.


3.Cheque Bounced
  • Return to client
  • Undo

Once the PDC get bounced, will be provided with two operations to perform

  1. "Return to Client" button will be provided to mark the PDC as Returned.
  2. Undo button will be provided to undo the bounce operations i.e., to go back to the presented state. This operation will undo the reversal of loan transaction.

4.Cleared
  • Undo

Once the PDC got cleared, it is allowed to do only one operation i.e., to undo the cleared operation. Undo cleared will move back to the "Presented state" .

5.Cancelled
  • Returned to Client
  • undo

Once the PDC get cancelled, it is enabled to do the following operations

  1. "Returned to client" button will be provided to mark the PDC as Returned
  2. Undo button will be provided to undo the Cancelled operations i.e., to go back to the pending state
6.Returned
  • undo

Once the PDC get into the returned state the only operation will be enabled is to undo if it considered as a wrong PDC to be returned. Undo button will be provided to undo the Cancelled operations i.e., to go back to the presented/Bounced state

Bulk operations on PDC

Refer Manage PDC for more info

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