Nehal Vora

Technology is the DNA of our business. It's kind of the raw material work in progress and finished goods.

Our focus is not numbers. Our focus is value proposition.

The intent is that as markets will deepen, more investors will come into play. This is an incentivization which the regulator believes with the lower cost, more people will want to join the ecosystem.

We don't generally disclose the correspondence we have with regulator. But I am sure, they are also seeing this. Probably at the appropriate time, the increase will come.

The important thing is that CDSL has a formidable role. Now, how many employees, whether it is increasing, whatever is required to ensure that it remains in business, the value proposition remains.

It's not that we don't want to put it out. It's because of the kind of expenses, which we are having, it is tough for us to put it out, what is firm fixed and what is firm variable.

We are prioritizing our #AATMANIRBHAR investor-focused approach while striving for innovation resulting in consistent and sustained financial and business performance.

The market, with its ebbs and flows, continues to support the Indian economy, and we owe all the progress to a strong ecosystem who put their constant faith in us.

The fact that quarter on quarter, despite markets going through its ups and downs, we continue to grow in terms of number of demat accounts, number of people wanting to become a part of the CDSL ecosystem clearly showcases that this is with a customer-centric focus.

We have a very specific focus. Otherwise, in the last five years, we would not have grown from 1.8 crore demat accounts to 15.5 crore.

We continue to build our value proposition, keeping it probably one of the preferred depositories for investors to open accounts.

Our intent has never been to look at market share or competitive edge. Our intent has always to create the value proposition for the stakeholders.