We have received notice of the new account maintenance fees that are due to be applied on all CDSC accounts effective 15th July. We would like to register our strong objection to these fees. 

Retail activity at the NSE is at record lows and with the exit of foreign investors in an election year, we need more not less local retail investors' activity at the NSE. Investors are already burdened by the many other fees that are currently being charged on trading and this adds a layer of burden. It is also advisable to engage capital market participants before introducing new fees. 

We understand the need for CDSC and indeed all market participants to increase incomes. However, the approach to increasing incomes needs to be through reduction of fees and charges, thereby spurring activity in the capital markets, rather than by loading even more charges. 

This petition is for the CDSC to consider revoking the new fees and to engage with market participants to spur activity by reducing fees.