The National Stock Exchange of India (NSE) has reached a new milestone, crossing 22 crore (220 million) investor accounts as of April 2025—just six months after hitting the 20 crore mark in October 2024. The number of unique registered investors stood at 11.3 crore as of March 31, 2025. Maharashtra leads in investor participation with 3.8 crore accounts, followed by Uttar Pradesh (2.4 crore), Gujarat (1.9 crore), and Rajasthan and West Bengal (1.3 crore each). These five states collectively account for nearly half of the total investor base. NSE’s indices have delivered strong returns over five years, with Nifty 50 and Nifty 500 yielding annualized gains of 22% and 25%, respectively.
The Investor Protection Fund also grew 23% year-on-year to Rs. 2,459 crore. Sriram Krishnan, Chief Business Development Officer, highlighted the role of digitization, simplified KYC, and increasing retail awareness in driving this rapid growth, particularly across India’s smaller cities and towns.
