SEBI has taken a good step in terms of transparency: UCO Bank

Securities and Exchange Board of India (SEBI) may take a second jab at forcing defaulting listed companies to make faster disclosures but the rules may get watered down. The plan which was shelved in October is part of the agenda for the market regulator's board meeting next week. That's a CNBC Awaaz exclusive.

In an interview with CNBC-TV18, Ravi Krishan Takkar, MD & CEO of UCO Bank spoke about the latest happenings in his company and sector.

It is a good step in bringing about transparency, he said.

If customer delays by a day or two, bank cannot immediately classify it as non-performing asset (NPA), he added.

According to him, these were some of the concerns which hopefully will be addressed by Sebi when they bring about the revised norms.

There should be some clarity as to what exactly is the default. Sebi should allow some time for repayments in case of a genuine delay, said Takkar.

For full interview, watch accompanying video...