The National Stock Exchange of India marked another milestone in April 2025, with the total number of investor accounts i.e., Unique Client Codes (UCCs) surpassing 22 crore (220 million), a sharp increase within just six months of crossing the 20-crore mark (200 million) in October 2024. Separately, the number of unique registered investors stands at 11.3 crore (As of March 31st, 2025), having crossed the 11 crore (110 million) mark on January 20th, 2025. An investor may maintain accounts with different brokers, resulting in multiple client codes. Maharashtra leads with the highest number of investor accounts at 3.8 crore, followed by Uttar Pradesh (2.4 crore), Gujarat (1.9 crore), and Rajasthan and West Bengal at approximately 1.3 crore each. Together, these states account for nearly 49% of total accounts, while the top ten states contribute roughly three-fourths of the overall count.  The benchmark Nifty 50 Index has delivered a strong 22% annualized return over the past five years while Nifty 500 Index has delivered a 25% annualized return, demonstrating significant wealth creation for investors during this period. NSE’s Investor Protection Fund (IPF), increased by over 23% year-on-year to Rs 2,459 crore as of March 31, 2025. Sriram Krishnan, Chief Business Development Officer, NSE said, “India’s investor base continues to expand rapidly, with over 2 crore new accounts added in just six months—a clear reflection of strong investor confidence in India's growth trajectory despite global economic headwinds. This surge has been driven by accelerated digital transformation and the increasing adoption of mobile trading, which have made capital markets more accessible to investors across tier 2, 3, and 4 cities. The growth also highlights the success of focused initiatives to deepen retail participation, including widespread financial literacy programs and streamlined KYC processes. As participation broadens across a range of instruments— Equities, ETFs, REITs, InvITs, and Bonds—this milestone signals a maturing financial ecosystem where technology is playing a pivotal role in democratizing investment opportunities.”