Demat Account: The number of demat accounts in the country has now reached 12.7 crore. Demat accounts have increased by 26 percent to 12.7 crore in August and at the end of July the number of demat accounts was 12.3 crore. According to the data, at the end of August 2023, a total of 12.7 crore demat accounts were registered with the two depositories NSDL and CDSL, whereas a year ago this number stood at 10.1 crore.
Demat accounts increased by more than 4 percent on monthly basis
According to an analysis by Motilal Oswal Financial Services, the number of new accounts has increased by 4.1 percent on a monthly basis to 31 lakh in August as compared to 30 lakh in July.
What data does SEBI have
According to Securities and Exchange Board of India (SEBI) data, at the end of August, 3.3 crore and 9.35 crore demat accounts out of a total of 12.7 crore were registered with NSDL and CDSL respectively.
< h3 style="text-align: justify;">Why is the number of people opening demat accounts increasing in the country
Due to attractive returns from stock markets and easy account opening process, the number of demat accounts has increased by 26 percent year-on-year to 12.7 crore in August, 2023.
Do this work by 30th September otherwise your accounts will be frozen
As per SEBI instructions, all individual demat account holders and mutual fund investors have time till September 30 to enroll their nominee or opt out of the scheme by filling a declaration. If this is not done, the demat accounts and folios of the investors will be frozen, that is, they will be ‘frozen’ and they will not be able to withdraw their investments. This requirement applies to both new and existing investors. This step has been taken to help investors safeguard their assets and hand over their investments to their legal heirs.
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