Potential further transaction fee cuts
Analysts questioned whether CDSL would cut fees further given lower rates vs. competition; management declined to comment, leaving uncertainty.
CDSL / Q2-FY25 / risks
Keep the risk register visible.
Central Depository Services (India) · Material risks, their source context, and severity in the latest available quarter.
Research layer active
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Signal, with the source still visible.
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Risk intelligence
Material risks this quarter
medium
Rising operating expenses
Other expenses (ex-employee, tech, depreciation) grew ~90% YoY, attributed to higher scale; management confirmed variable nature but did not quantify sustainability.
Insurance repository growth lagging competitor
Analyst noted competitor adding ~10 lakh policies/quarter vs CDSL's ~1 lakh; management attributed to insurer dependency but offered no specific catch-up plan.