Record Number of Demat Accounts in India Reaches 185 Million in 2024
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New Delhi, Jan 9 (NationPress) As the Indian equity benchmarks consistently outperform their global counterparts, the total count of demat accounts has skyrocketed to a remarkable 185 million in 2024.
Over the past year, the number of demat accounts rose by approximately 46 million, translating to an average monthly increase of 3.8 million accounts.
Data from NSDL and CDSL indicates that 2024 witnessed a 33 percent rise in new demat accounts in comparison to 2023, bringing the cumulative total to 185.3 million.
The growth of demat accounts in India has been accelerating rapidly since the Covid-19 pandemic. This surge is attributed to several factors, including a streamlined account opening process, the growing use of smartphones, and favorable market returns. Remarkably, the number of demat accounts has more than quadrupled over the past five years, increasing from 39.3 million in 2019.
A recent report by SBI Research highlights that India has been witnessing the opening of at least 30 million new demat accounts annually since 2021, with nearly one in four new investors being women. This trend indicates a growing inclination towards utilizing capital markets as a means for financializing savings.
“This year, it is anticipated that the number of new demat accounts may exceed 40 million,” stated Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser at SBI. He also noted that, except for a few states, the participation rate of women has risen more than the national average in FY25 compared to FY22.
Over the past decade, the funds raised by Indian companies through capital markets have increased more than tenfold, from Rs 12,068 crore in FY14 to Rs 1.67 lakh crore in the calendar year 2024.
Furthermore, the market capitalization of the NSE has escalated over six times, reaching Rs 441 lakh crore in FY25 compared to FY14.
