The new account openings have been underpinned by a sharp rally in the stock markets.
Brokerages are witnessing a boom of sorts when it comes to opening of new investor accounts. In the past four months, more than 4 million new accounts have been opened, taking total to 44.3 million. Despite the economic slowdown, widespread job losses, and salary cuts, what's driving people to the stock markets? Samie Modak explains:
Ease of account opening and zero charges
Gone are the days when opening a trading and dematerialised account used to take 70 signatures. Now an investor can open an account sitting at home, thanks to eKYC with online brokerages. A simple Google search leads to a slew of brokerages vying for your attention with freebies and offers, such as zero-broking fees and no account opening charges. Some
First Published: Aug 17 2020 | 11:23 AM IST