BSE Crosses Milestone of 7 Crore Registered Users

On Monday, BSE, the stock exchange crossed the landmark of 7 crore registered users based on Unique Client Code (UCC).

The BSE said in a statement, “The duration to register 7 crore users from previous 6 crore users was 139 days. BSE took 241, 652 and 939 days for the previous landmark of 6 crore, 5 crore and 4 crore, respectively.

The exchange stated, “Of the total users, 38% accounts for users in the age group of 30-40 years, followed by 24% users from 20-30 years age and 13% users in the 40-50 years age group. The user’s growth is driven by tech-savvy young users, who belong to the age group of 20-40 years and accounts for 82 lakh of the 1 crore user additions from 6-7 crore.”

Mr. Ashishkumar Chauhan, MD and CEO of BSE said, “This achievement indicates BSE’s efforts to bring in more investors. BSE remains assured about leveraging its growing reach and ability for trade to a wider range of financial products such as insurance, mutual funds, etc.”

In terms of states, investors from Maharashtra and Gujarat took the lead with 21.5% and 12.3% share of the total 7 crore investors, followed by Uttar Pradesh at 7.5% and Karnataka and Tamil Nadu at 6.1% each.

States such as Assam with 82%, seven sister states with 30% and Jammu Kashmir & Ladakh with 24% share registered the fastest growth from 6 crore to 7 crore registered investor accounts.

Uttar Pradesh onboarded 9.57 lakh investors with a growth rate of 22% followed by Rajasthan (6.64 lakh investors or growth of 24%) and Madhya Pradesh (5.84 lakh investors or growth of 29%).

BSE said, “Over the last few years it has been collaborating with members for e-enabling users with a less-paper operations and on-boarding through a seamless and efficient digital process.

As indicative from the speedy growth of registered investors since April 2020, large number of retail investors have adopted equities for the first time in India amid the pandemic.

Source: IBEF