Central Depository Services (India) Limited CC-Dec23.pdf · 2024-02-07
Hello, sir. Congratulations for a good set of numbers. I had a few queries. One is that regarding CIRL, that is CDSL Insurance Repository, we do not seem to have the number of policies growing compared to quarter-on-quarter every year. And it appears that the management is not pushing very hard in terms of business penetration or tie-up with other insurance companies or making the business really acceptable at a large public level the way we have pursued the depository industry. So is that perception correct? Or there is something that's going on that we are not aware of?
Right, sir. At present, there are companies in competition who are tying up with, let's say, Oriental Insurance and other public sector insurance. And there, it becomes a joint DBE of the insurance company as well as the insurance repository company to sell the product and get more business from the clients. So if that kind of effort is there, it should be brought in public domain. Because it appears that the number of policies remain stagnant quarter-on-quarter and it's not moving beyond 15 lakhs. As I can see, it is just 13 lakhs or 12 lakhs policies that's there. Even in the last quarter, it was same. So the business has become stagnant. That was my question.