Mumbai: More than 42 lakh new demat accounts were opened in June 2024. Data released by the Central Depository Service and National Securities Depository revealed this.
Demat Account is short for dematerialisation account and makes the process of holding investments like shares, bonds, government securities, Mutual Funds, Insurance and ETFs easier. A Demat account helps investors hold shares and securities in an electronic format.
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According to data, the number of demat accounts opened in June totalled over 42.4 lakh. This is the highest account opening rate since February 2024. In May, the number was at 36 lakh and 23.6 lahks at June 2023.
This is the fourth time when new demat openings crossed 40 lakh in a single month. The feat was earlier achieved in December 2023, January 2024 and February this year.
The total demat accounts now exceed 16.2 crore, reflecting a 4.24 percent increase from the previous month and a 34.66 percent rise compared to last year.
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