NSE crosses 23 crore (230 million) investor accounts
The Economic Times
NSE trading accounts cross 23 crore mark in July, up 1 crore in just 3 months
The National Stock Exchange of India (NSE) reached a new milestone in July 2025, with unique trading accounts surpassing 23 crore (230 million). This comes just three months after crossing the 22-crore mark in April, highlighting sustained growth in retail investor participation.
The National Stock Exchange of India (NSE) reached a new milestone in July 2025, with unique trading accounts surpassing 23 crore (230 million). This comes just three months after crossing the 22-crore mark in April, highlighting sustained growth in retail investor participation.
As of July 28, 2025, the number of unique registered investors on the NSE stood at 11.8 crore.
While individual investors may maintain multiple accounts across brokers, leading to more than one client code, regional distribution data shows Maharashtra remains at the forefront, with nearly 4 crore accounts (17% share). It is followed by Uttar Pradesh with 2.5 crore accounts (11%), Gujarat with over 2 crore accounts (9%), and West Bengal and Rajasthan with more than 1.3 crore each (6% share each).
Together, these five states make up close to half of all NSE trading accounts, while the top ten states account for almost 75% of the total.
A significant portion of the new investor base comprises young and first-time investors. In response, NSE and SEBI have ramped up investor education initiatives focused on risk management, fraud prevention, and long-term investing.The number of Investor Awareness Programs (IAPs) conducted by NSE has seen a fourfold increase—from 3,504 in FY20 to 14,679 in FY25—reaching over 8 lakh participants across all states and union territories. The NSE Investor Protection Fund (IPF) has also grown 22% year-on-year, reaching Rs 2,573 crore as of June 30, 2025.
The push for financial literacy coincides with strong performance in Indian equity markets. Over the past five years, the Nifty 50 and Nifty 500 have posted annualised returns of over 17% and 20%, respectively. The rapid rise in retail investor participation has been fueled by digitization, increased access to fintech platforms, a growing middle class, and supportive government policies under the leadership of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
“The Exchange has crossed another major threshold, adding a crore investor accounts in just about three months after crossing the 22-crore mark (220 million) in April 2025. This momentum reflects the deepening trust in India’s capital markets and the resilience of investor sentiment amid global economic uncertainty. The expansion has been powered by rapid digitalization and the widespread uptake of mobile-based trading solutions, which have significantly lowered entry barriers for investors, particularly across smaller cities and semi-urban centres,” said Sriram Krishnan, Chief Business Development Officer at NSE.
“It also highlights the effectiveness of targeted policy and institutional efforts—ranging from streamlined onboarding to financial literacy drives—in fostering broader market inclusion. With more people investing in equities, ETFs, REITs, InvITs, and debt instruments, this milestone also enables a more diversified and accessible investment landscape through technology,” he added.
Updated on: 17/09/2025
