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const schemaArr = {
  "body": [
    // ... (your schemaArr data)
  ]
};

const state = {
  "updateKycStatus": {
    "value": [
      "a0"
    ]
  },
  "updateTRM": {
    "value": [
      "a15" // Example with an out-of-bounds index
    ]
  },
  "rejectReason": ""
};

const newConvertedState = {};

// Iterate through the keys in the state object
for (const key in state) {
  if (state.hasOwnProperty(key)) {
    // Find the corresponding schema item in schemaArr
    const schemaItem = schemaArr.body.find(item => item.id === key);

    // If no schema item is found for the current key
    if (!schemaItem) {
      console.warn(`No id found in schemaArr for the key ${key}`);
      // Set the value to null in newConvertedState
      newConvertedState[key] = null;
    } else {
      // If the schema item has a "select" type
      if (schemaItem.type === "select") {
        // If no "value" associated in the state object
        if (!state[key].value) {
          console.warn(`Id is found in schemaArr with "select" type but no "value" associated for the key ${key}`);
          // Set the value to null in newConvertedState
          newConvertedState[key] = null;
        } else {
        	// Extract the index from the state value (e.g., "a0" -> 0)
          const index = parseInt(state[key].value[0].substr(1));
          
          // Get the keys of the available options in the schemaItem
          const optionsKeys = Object.keys(schemaItem.options);
          
          // If the index is within bounds of the available options
          if (index >= 0 && index < optionsKeys.length) {
            const selectedOption = schemaItem.options[optionsKeys[index]];
            newConvertedState[key] = selectedOption.id;
          } else {
            console.warn(`Index out of bounds for the key ${key}`);
            // Set the value to null in newConvertedState
            newConvertedState[key] = null;
          }
        }
      } else {
        // If the schema item type is not "select", set the value to null
        newConvertedState[key] = null;
      }
    }
  }
}

console.log(newConvertedState);