Collateral calculations in Mifos X via Restful Api

Collateral Task: A three way collateral pledge to determine the eligible amount and also record the collateral pledged as part of loan application. This functionality involves calculation and GUI. The existing Add Collateral resource in the loan application or the loan counter can be used. 1. Gold Collateral Fields are : Jewellery type – drop down contains a list of jewellery items such as necklace etc. Fineness- drop down16 carat,22 carat,24 carat Gross Wt- total weight of jewellery (in gm) = a (input) Stone Wt- stone wt if present in jewellery(in gm) = b (input) Net wt = Gross wt- Stone Wt = c (calculated) Impurity – (in percentage of net weight) = i (input) A gold rate according to fineness is recorded in Admin Section. – x INR (input once in a day or week) Then Jewellery valuation is x*[c- {(100-i}%ofc)]INR Eg – Gross wt = 10g Stone Wt = 1g Net wt – 10-1=9 g Impurity = 10% Gold Rate = 2000 So Jewellery Valuation is 2000* [9-{(100-10)%of9}] 2000*[90%of9] 2000*8.1=16200 If there are two or more jewellery then total jewellery valuation will give Net Eligible amount 2. Two wheeler Fields are: Make – like Honda Activa, hero xyz RTO registration details Description Cost(on road price) Then Eligible Amount is 85% of Cost 3. MSME Fields are: Description Market value Then Eligible Amount is 60%ofCost Now once this eligible amount is posted in loan counter, in approval stage a check should be put that amount exceeding eligible amount cannot be approved or disbursed.