Demat Accounts Up 33% in FY24

Mumbai: Total number of demat accounts in the country crossed the 15-crore mark as of March this year, latest data released by depositories CDSL and NSDL showed.

FY23-24 saw over 3.69 crore crore new demat accounts getting added as total demat accounts rose 32.71 per cent from over 11.44 crore as on March 31, 2023 to over 15.13 crore as on March 31, 2024.

This is the highest single year new demat account opening.

Every month on average approximately 30 lakh new demat accounts were added in FY23-24.

CDSL accounted for over 11.56 crore demat accounts as on March 31, 2024 while NSDL accounted for over 3.57 crore demat accounts of total 15.13 crore demat accounts.

CDSL has played a key role in opening new demat accounts in India since 2020-2021 while NSDL has opened a comparatively far lesser number of demat accounts passing on its earlier leadership position to CDSL.

NSDL crossed the 2 crore demat account mark in June 2020 and since then has added over 1.57 crore demat accounts.

NSDL added over 43.07 lakh demat accounts in FY 23-24 while CDSL added over 3.25 crore demat accounts.