One contra benefit in pandemic timesWhile I was searching net for some other matter, I came across an interesting data.
India's outline map was displayed and the number of investors -state wise- was displayed within relevant state boundaries. As expected Maharashtra and Gujarat were first and second respectively.
But what amused me was the relative data of the four southern states viz-a-viz their size and population. Kerala, the smallest among them had 19.7 lakhs investors, whereas TN was 21.5 L, Andhra-36 and Karnatak-43 lakhs. I could not confirm the base date, but the context post-a tweet- is dated 6th July 2021. It made me search or info.
Then I found information that Ten Million new demat accounts were opened n India during the year 2020. While the country's economy was affected by the pandemic and the lockdown, it seems that so much people were trying new avenues of income and wealth generation.
Moneycontrol.com dated January 14,2021 reported and reasoned that:" About 10 million new demat accounts were opened in 2020 as retail investors, confined to their homes, got time to study and manage stocks."
Angel Broking observed that "From August 2020 to December 2020, 4 million new accounts were added at a rate of a million a month. To put this into perspective, financial years 2017 and 2018 both saw 4 million accounts being added in their 12 months; FY 2020-2021 did it in a mere four. To add to this, new Demat account openings continued to trend upwards, with January 2021 seeing 1.7 million accounts being opened."
Seems pandemic lockdown gave some small relief by this side effect..Hope this helps the people and the nation by wealth creation.