DEMAT acc holder nos may touch 25 mn: SMC
Number of demat account holders in the country is likely to touch 25 million by 2015 from about 10 million now on growing tendency among young and middle aged persons to invest in capital market, SMC Global Securities said. "...(they are investing) not only to multiply their wealth faster and quicker but it also help them stand and insure shocks of possible employment loss," Chairman and Managing Director of SMC Global Securities Ltd Subhash C Aggarwal said. India is adding 2.25 lakh new demat accounts per month, the company said. The financial solution provider firm said that "a new enthusiasm among young and middle aged persons, including employees, to take part in equity and mutual fund transactions to park their savings" could be seen. According to a research of SMC Global Securities Ltd, a new equity culture is beginning to evolve in India, in which the contributions of young employees need to be recognised "in the sense that their risk appetite is increasing". Demat refers to a dematerialised account for individual to trade in listed stocks or debentures. As per market regulator Sebi, demat account is must for such trade.
https://www.financialexpress.com/news/demat-acc-holder-nos-may-touch-25-mn-smc/828374/0
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