10.1 Oracle Banking Liquidity Management Accounts with IC

This topic describes the information about the Oracle Banking Liquidity Management Accounts with IC.

Oracle Banking Liquidity Management accounts with IC should be mapped with two formulas as follows:

• Credit / Debit formula for computing Interest
• Debit formula for computing Tax

The system performs the interest calculation as well as compute the tax on the same. As per the liquidation cycle maintained in the system, Oracle Banking Liquidity Management does the Interest and Tax postings to DDA.

For the negative interest, WHT will not be applicable.

The Interest Payable GL (Credit Interest), Interest Receivable GL (Debit Interest) and the Tax Payable GL (WHT) along with the accounting will be maintained in the system.