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Number Of New Demat Accounts Opened In 2019 Climb To 10-Year High

By Staff
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Data from the Securities and Exchange Board of India (SEBI) showed that the number of new demat accounts, as well as the total number of demat accounts, hit a 10-year high in 2019.

Number Of New Demat Accounts Opened In 2019 Climb To 10-Year High
 

New demat account openings in 2019 were up by 12.5 percent to 4.5 million from the previous year. Total demat accounts at the end of 2019 rose to 39.3 million from 34.8 million in 2018.

Demat account or dematerialised account is used to hold shares or other securities in electronic form. The facility is provided by depositories such as NSDL and CDSL through intermediaries like stock brokers.

According to analysts, the increased retail investor confidence and participation in the markets could be a result of easier KYC norms (using Aadhaar-linked OTP), greater penetration of internet services and affordable devices as well as technology.

Further, good performance in the Indian equity markets in 2019, especially large caps, have intrigued young investors who also invest through mutual funds.

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