New milestone: Demat accounts surpass 100 million for the first time

The tally was less than 41 million before Covid-19 pandemic

The country’s demat account tally topped the 100 million-mark for the first time, in August. Over 2.2 million new accounts -- most in four months -- were opened last month, taking the cumulative figure to 100.5 million, according to data released by depository firms National Securities Depository Limited (NDSL) and Central Depository Services (CDSL). 

India’s demat account tally was 40.9 million in March 2020 just before the outbreak of Covid-19 in the country.

The sharp surge in the market, greater lean hours due to the lockdown and mobility restrictions, shift to the work-from-home set-up, ease of account opening, increase in mobile and