In March 2020, there were 4.09 crore demat accounts, which now increased to 8.97 crores

Winning Business Desk

Mumbai. After the outbreak of the Corona pandemic in March 2020, the number of people investing in the stock market in the country has increased rapidly. As of March 2020, there were 4.09 crore demat accounts in the country which increased by 2.19 times to 8.97 crores in March 2022. That is, in the last two years, more than 20 lakh demat accounts have been opened every month. Not only this, the amount invested in the stock market through these accounts has also doubled to Rs 2 lakh crore. This information has come out from the latest data of NSDL and CDSL.

70% of customers invested for the first time

As per the data, more than 80% of the new demat account opening customers are from Tier-2 and Tier-3 cities. While 70% have invested for the first time. The increase in the use of smartphones, easy access of customers from digital platforms and attractive returns from the stock market are the main reasons behind the rise in demat accounts.

KYC required by 30th June

SEBI has extended the deadline for doing KYC of existing demat accounts till June 30, 2022. That is, now you will be able to get KY done for demat and trading account till June 30. Earlier this deadline was 31 March 2022. If you have not got KYC done yet, get it done soon.