Crowd of investors in stock market: Demat account number crosses 7 crores
Due to the lockdown during the Corona epidemic, there was a big increase in the class of investors in the stock market as a means of income, but to replace the decline seen in the market, the Indian public is again trying its hand in the stock market. since March. The number of demat account holders in the country has crossed 7 crores.
Central Depository Services Limited (CDSL) on Thursday said that its number of active demat accounts has crossed the historic figure of seven crore. Demat accounts are serviced by over 580 Depository Participants (DPs) from over 20,700 locations of CDSL.
CDSL, which started operations in 1999, facilitates securities transactions in electronic form and also handles settlement of trades on stock exchanges.
CDSL Managing Director and CEO Nehal Vora said that investors from various states and union territories are now contributing in this journey of economic development of India. CDSL has achieved another milestone of 70 million demat accounts. This is encouraging not only for us but for the entire ecosystem of the Indian securities market.
CDSL is currently the largest depository in the country in terms of active demat accounts. Major shareholders of CDSL include BSE, Standard Chartered Bank, PPFAS Mutual Fund, LIC and Canara Bank.