CDSL - CONF CALL TAKEAWAYS Effective April 1, KYC fetch charges at subsidiary CVL were reduced 20% from 35 to 28 rupees Creation charges were cut approximately 75% from 20 to 5 rupees, which management acknowledged will pressure KYC revenues Technology costs have grown significantly and now exceed employee costs on a consolidated basis Subsidiary CVL seeing a sharp drop in profit after tax to 55 crores from 110 crores due to reduced KYC revenues and higher expenses.