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On the 1st of March, 2022, the Central Depository Services (India) announced that it now has more than six crores (i. e. equivalent to 60 million) active Demat accounts. A Demat account is a kind of account that can be used to keep online copies of securities and shares. A Demat account is a dematerialized account in its entire form. The main purpose of a Demat account is to keep shares that have been bought or dematerialized (that means conversion from physical to electronic form of shares), making online share trading easier for users.
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The reaction of B. V. Chaubal (Chairman of CDSL):
B.V. Chaubal issued two statetments:
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