The total number of demat accounts in India have crossed the 100 million mark in August, according to monthly figures from depositories CDSL and NSDL.

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To discuss where this growth is coming from and the customer acquisition costs, CNBC-TV18 spoke to Sandeep Bhardwaj, Ceo-Retail at IIFL Securities & Ajay Menon, CEO-Broking & Distribution at Motilal Oswal Financial Services.

Talking about trend, Menon said, “For us in the last 6 to 12 months, there has been a continuous growth across our network and we can see at least around 20-25 percent of growth in the last six months. The overall pace in the network is increasing consistently because of the robustness of the overall systems which have been placed by SEBI.”

He added, “I think the base is only going to increase the way things are going and we can see the overall expansion across our business network. We surely look at more of quality of clients coming in. So, we can see the investments increasing on a continuous basis.”

On addition on new accounts, Bhardwaj said that close to 60 lakh portfolio got added in last three months.

He said, “Demat as a category itself is expanding beyond direct equities. We are seeing constant growth as far as numbers are concerned, but that will lot more depend on equity market behaviour as well as cyclic nature of this industry.”

For the entire discussion, watch the accompanying video

Also Read: Exclusive | All new insurance policies should be available in demat form by Dec 2022: Insurance regulator

First Published:Sept 8, 2022 6:30 PM IST