Demat accounts are growing faster than active investors — what does it mean for brokerages?

India’s demat account base is expanding faster than the pool of active market participants, signalling stronger investor interest but slower conversion into regular trading activity. In August, demat accounts rose 1.4% MoM to 237.7 million, while NSE active clients increased 1.1% to nearly 46 million, taking the active-account ratio to 19.3%.