Demat account openings averaged 13 lakh per month since April 2020
MAS Team | 11 June 2021
Share
0
Amid near-record rally in the equity markets during the pandemic-ravaged FY21, brokerages have added on an average 13 lakh new demat accounts every month since April last year, writes The Economic Times.
This has taken the overall retail investor demat account’s headcount to record 6.97 crore as of May 31 this year, according to BSE data.
Of this, about a quarter of them are from Maharashtra, followed by Gujarat with 85.9 lakh accounts, according to the investor data available with the BSE as of May 31. The third is UP with 52.3 lakh investor accounts, fourth is Tamil Nadu with 42.3 lakh accounts, and the neighboring Karnataka is closely behind with 42.2 lakh ranking fifth.
The pace of investor accounts even on a larger base suggests that automation and mobile trading are taking investments in stocks and mutual funds to nooks and corners of the country, he added.
But, a vast majority of these accounts are inactive. An industry study in March 2020 said only a quarter of then 4 crore accounts were active.
According to Sebi guidelines, a demat account that has not been operated for a year is considered inactive.
Dear Investor,
In case of any grievance / complaint :
In case of any grievance / complaint :
- Please contact Compliance Officer Shraddha Mhatre at [email protected] and Phone No. - 91-22-35131664.
- You may also approach CEO Debashis Basu at email- id [email protected] and Phone No. - 91-22-35131664.
