Central Depository Services (India) Limited on Thursday said active demat accounts reached the milestone of eight crores (80 million) in the country, according to a release.
The consistent increase in the number of new dematerialised accounts in India indicates that people here are increasingly participating in stock markets, the depository services provider said. "We are elated and humbled to see the enormous number of investors across various states and union territories, who are contributing to India's growth story. Crossing the milestone of 8 crore active demat accounts near the Foundation Day makes the occasion more special," Nehal Vora, MD and CEO of CDSL said.
"The achievement of 8 crore active demat accounts would not have been possible without the guidance of the regulator and the constant support of the market infrastructure institutions, market intermediaries and the employees of CDSL. We will continue to empower investors and support them in their journey towards Atmanirbharta," Vora added.
A demat or dematerialisation account helps investors hold shares and securities in an electronic format.
CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges. (ANI)