Opening of new dematerialised accounts monthly wise, increased seven-fold since financial year FY20, SEBI Chairman Ajay Tyagi said at the virtual event organised by the National Stock Exchange.

The average new demat accounts were at 4 lakh per month in FY20.

Tyagi added that the average new demat accounts rose to around 29 lakh till November in FY22 as against 12 lakh in FY21.

The event was to celebrate the 25 years of the launch of Nifty50 index and 20 years of Derivatives Trading in India.

"The cumulative demat accounts which stood at 3.6 crore as on March 2019 were 7.7 crore as on end of November 2021," he added.

(With inputs from IANS)