Mumbai: The National Stock Exchange(NSE) of India's total number of client codes at the exchange surpassed 20 crore (200 million) in October, 2024.
The unique registered investor base(with unique PAN number) now stands at 10.5 crore, having crossed the 10 crore mark on August 8, 2024.
"This milestone underscores India's evolving financial landscape and the successful fusion of technology with retail investment accessibility," a top NSE official said.
NSE added around 3.1 crore new accounts in last eight months as it had 16.9 crore accounts just eight months earlier, NSE said.
Among states, Maharashtra leads with the highest number of accounts at 3.6 crore, followed by Uttar Pradesh (2.2 crore), Gujarat (1.8 crore), Rajasthan and West Bengal at around 1.2 crore each. Together, these states account for nearly 50 per cent of total client accounts, while the top ten states account for approximately three-fourths of the total.
"Exceptional growth reflects strong investor confidence in India's growth story, driven by digital transformation and technological innovation. The widespread adoption of mobile trading applications and increasing investor awareness, supported by the government's digital initiatives, has effectively democratized market access, particularly benefiting investors from tier 2, 3, and 4 cities," said Sriram Krishnan, chief business development officer, NSE.
"Expansion is supported by streamlined KYC processes, enhanced financial literacy programs, and sustained positive market sentiments, as demonstrated by robust participation across diverse investment instruments including equities, ETFs, REITs, InvITs, and various bonds," Krishnan said.