The National Stock Exchange of India (NSE) said on Thursday, September 25, that its registered investor base has crossed 12 crore (120 million), a milestone reached on 23 September 2025. The exchange described it as the fastest expansion in its history, underlining the growing participation of households in India’s equity markets.

Fastest growth in three decades

The NSE said its total investor accounts or Unique Client Codes, stood at 23.5 crore as of September 23. Clients can register with more than one trading member, so the figure represents cumulative accounts.

Investor registrations have accelerated sharply in recent years. It took 14 years from NSE's launch in 1994 to reach its first crore investors. The second crore was added in seven years, the third in three-and-a-half years an

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