Business News: India’s Demat Account Figures Reach a Record High of 13.2 Cr

09 Nov, 2023 Author: Ayushee Joshi

Business News: According to market analysts, there has been significant development in the stock market since March, resulting in a steady increase in the number of Demat accounts in the country. There were more than 13.22 crore demat accounts in the country as of October, the most in the last 11 months. There are around 9.85 crore accounts in the Central Depository Services (CDSL) and over 3.38 crore accounts in the National Securities Depository (NSDL). Demat accounts have surged by almost 2.79 crore since last year.

Further Growth Expected

It is expected that the number of Demat accounts will continue to rise in the future years. The increase indicates that the stock market is now performing well, and investors have made substantial gains since March, which is reflected in demat accounts. Previously, the market boom strengthened people's preference for demat accounts. Companies are increasingly able to give services to more clients because of technological advancements. The digital app has added additional users to the demat account.