A Study on Demat Account Sales and Capital Market Awareness.

Bindal Totlani; Sandesh Suresh Suvarna

doi:10.69968/ijisem.2026v5i3399-406

Authors

Bindal Totlani Assistant Professor, Fr. C. Rodrigues Institute of Management Studies, Vashi.
Sandesh Suresh Suvarna Student, Fr. C. Rodrigues Institute of Management Studies, Vashi.

DOI:

https://doi.org/10.69968/ijisem.2026v5i3399-406

Keywords:

Demat Accounts, Digital Onboarding, Capital Market Awareness, EKYC 3.0, Financial Literacy

Abstract

Over the past decade, retail investor participation in India's capital markets has grown exponentially, driven by regulatory changes, technological advancements, and the rise of smartphone usage. Despite this, market participation remains low in comparison to the number of demat accounts opened. This research explores retail investor awareness of demat accounts, the impact of Bajaj Broking's digital EKYC 3.0 onboarding process, and the drivers behind platform choice among retail investors in Navi Mumbai. Using primary survey data of 50 respondents (out of 120 leads interacted in a two-month internship) and secondary sources on digital KYC uptake and competition in the brokerage industry, the study shows that perceived risk and security, and lack of financial literacy, remain the largest participation barriers. Brand trust, more than price, drives platform choice. The Electronic Know Your Customer 3.0 (EKYC 3.0) process enabled 64 percent of respondents to open an account in less than 15 minutes. The findings suggest that sustainable retail investor engagement requires a hybrid model combining digital efficiency with personalised, education-led advisory support.

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