Stocks

BSE records milestone of over 7 crore registered users

Our Bureau Mumbai | Updated on June 07, 2021

Maharashtra, Gujarat had the largest investor share

he Bombay Stock Exchange (BSE) today crossed a milestone of seven crore registered users based on Unique Client Code (UCC) .

BSE went from six crore to seven crore users in 139 days, as compared to 241, 652 and 939 days needed for the previous milestones of 6 crore, 5 crore and 4 crore, respectively, it said.

Of the seven crore users, 38 per cent fall in the 30-40 age bracket, followed by 24 per cent in 20-30 and 13 per cent in the 40-50 age bracket.

The growth has been led by tech savvy young users, with an age profile of 20-40, who contributed 82 lakh of the one crore user additions from six crore to seven crore.

Ashishkumar Chauhan, MD and CEO of BSE said: "This milestone is a testament to BSE efforts to bring more investors especially from the retail side on the exchange platform. BSE remains confident that to leverage its increasing reach and capacity for delivery of a wider range of financial products including mutual funds, insurance and so on."

Among the States, Maharashtra and Gujarat led in terms of investors share with a 21.5 per cent share and 12.3 per cent of the total seven crore investors, followed by Uttar Pradesh at 7.5 per cent and Karnataka and Tamil Nadu at 6.1 per cent each. Maharashtra added 19.44 lakh registered investors with a growth of 15 per cent and Gujarat 7.35 lakh investors with a growth of 9 per cent.

The fastest growth rate of registered investor accounts was recorded by Assam (82 per cent), Seven Sister states (30 per cent) and Jammu Kashmir & Ladakh (24 per cent). Among the larger states, Uttar Pradesh saw the fastest growth by onboarding 9.57 lakh investors with a growth rate of 22 per cent, followed by Rajasthan (6.64 lakh investors/growth of 24 per cent) and Madhya Pradesh (5.84 lakh investors / growth of 29 per cent).

BSE has been working with members for e-enabling customers with a less-paper ecosystem and on-boarding through digital process over the past few years. To take advantage of the covid induced stock market crash in March 2020, followed by a gradual recovery later on, thousands of retail investors have embraced equities for the first time during the Covid-19 pandemic in India, as seen from the rapid growth of registered investors since April 2020.

Published on June 07, 2021

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