Banks seek more time on loan default disclosure: Sebi chief Ajay Tyagi

Tyagi said that the regulator was working with banks to define what would constitute a default as banks provide different types of loans to corporates

Months after it silently withdrew a circular mandating corporates to disclose their loan defaults, just a day after it was issued, the markets watchdog Securities and Exchange Board of India (Sebi) on Monday explained that it was pulled back as banks sought more time to implement it.

Sebi Chairman Ajay Tyagi explained the regulator was working with banks to define what would constitute a default as banks provide different types of loans to corporates.

“Banks need further time to examine and see. Because they give various types of debts. There’s term loans, working capital loans, etc,” Tyagi said on the