Latest news with #PrakarshGagdani
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Business Standard
a day ago
- Business
- Business Standard
With 3 mn new entries, demat a/cs see biggest spike in July since Dec
Domestic markets saw the addition of nearly 3 million new dematerialised (demat) accounts in July, marking the highest monthly increase since December 2024. This is also the third consecutive month that witnessed a rise in account openings, following a period of moderation from January to April. With seamless onboarding and the continued allure of equities fuelling demand, July's additions pushed the nationwide demat count beyond 200 million, a figure that has more than tripled in just four years. The total count stood at 202.1 million at the end of last month. However, this figure does not equate to unique investors, since individuals may open multiple demat accounts. The count of unique investors is estimated at 120 million. The robust growth in demat accounts in July occurred against a backdrop of heightened market volatility, driven by trade tensions between India and the US, lacklustre corporate earnings, and sustained selling by foreign portfolio investors (FPIs). In July, FPIs registered a net outflow of Rs 17,741 crore, the first such net selling since March 2025. Prakarsh Gagdani, CEO, Torus Financial Market, said the demat additions in July were supported by robust IPO issuances. July was the busiest month for IPOs in 2025, with 13 issues raising Rs 16,125 crore. SIP inflows also reached a record high, rising over 4 per cent month-on-month to Rs 28,464 crore in July. Despite uncertain market conditions, the steady inflow into SIPs underscores growing investor commitment to systematic investing. The outlook for demat account growth remains uncertain, as the markets continue to grapple with the broader impact of trade tariffs and international market dynamics, said experts.
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Business Standard
a day ago
- Business
- Business Standard
July sees biggest jump in demat acs since December; nearly 3 mn added
Domestic markets saw the addition of nearly 3 million new dematerialised (demat) accounts in July, marking the highest monthly increase since December 2024. This was the third consecutive month of rising account openings, following a period of moderation from January to April. With seamless onboarding and the continued allure of equities fuelling demand, July's additions pushed the nationwide demat count beyond 200 million—a figure that has more than tripled in just four years. The total stood at 202.1 million at the end of the month. However, this figure does not equate to unique investors, as individuals may hold multiple demat accounts. The count of unique investors is estimated at 120 million. The robust growth in July came against a backdrop of heightened market volatility, driven by trade tensions between India and the US, lacklustre corporate earnings, and sustained selling by foreign portfolio investors (FPIs). In July, FPIs recorded a net outflow of Rs 17,741 crore, their first net selling since March 2025. Prakarsh Gagdani, Chief Executive Officer, Torus Financial Market, said the surge in demat openings was supported by strong initial public offering (IPO) activity. July was the busiest month for IPOs in 2025, with 13 issues raising Rs 16,125 crore. Systematic investment plan (SIP) inflows also reached a record high, rising over 4 per cent month-on-month to Rs 28,464 crore in July. Despite uncertain market conditions, steady SIP inflows underscore growing investor commitment to systematic investing. Experts cautioned, however, that the outlook for demat account growth remains uncertain, as markets continue to grapple with the broader impact of trade tariffs and global market dynamics.
Business Standard
6 days ago
- Business
- Business Standard
Torus Digital enters strategic partnership with Suryoday Small Finance Bank, launches 3-in-1 Savings & Investment Account
PRNewswire Mumbai (Maharashtra) [India], August 8: Torus Digital, an innovative wealth technology company, has established a strategic partnership with Navi Mumbai-based Suryoday Small Finance Bank (SSFB) to launch a 3-in-1 Savings and Investment Account. Key Highlights: - Deep-integrated banking, trading and demat account for seamless savings and investment experience - Aim to penetrate underserved segments with an affordable, digital-first approach - Key features like 'Invest your Interest' and 'Block Funds' facility designed to make investment easy for both passive and active investors Over the next 4 to 5 years, more than 100 million retail investors are expected to enter the Indian investment market. Already, nearly 2 million digital investment accounts are being opened every month across the country. In response to this growing demand, the 3-in-1 account offers a comprehensive financial solution tailored for this new wave of investors. Torus Digital has partnered with Suryoday Small Finance Bank to offer a unified approach to savings, trading, and demat services. This unified approach allows users to manage their finances with greater ease, transparency, and efficiency. Torus Digital offers a savings interest rate of up to 7.75% per annum, 88% higher than traditional Indian banks. The IYI feature includes three Nifty 50 ETFs, providing a safe investment avenue with a potential 15% CAGR. Users can open zero-balance savings accounts, trade across NSE and BSE at flat rates, and maintain a lifetime free demat account. Through this partnership, Suryoday Small Finance Bank, serving over 3.4 million customers through 710+ banking outlets across 15 states and Union Territories, aims to enhance its digital presence and expand access to a wider, more diverse customer segment. Commenting on the launch, Prakarsh Gagdani, Chief Executive Officer, Torus Digital, said, " We are building a future where personal finance is not fragmented but integrated. Our 3-in-1 account brings simplicity and intelligence into the everyday financial lives of our users. In partnership with SSFB, we're redefining the customer experience by making saving, trading, and investing accessible to everyone, especially in underserved segments of India. We are aiming to onboard over 1 million customers within the next 2 to 3 years." Commenting on the partnership, Vishal Singh, Chief Information Officer and Head - Digital Banking at Suryoday Small Finance Bank (SSFB), said, " At Suryoday, we've always aimed to deliver innovative banking experiences. Our strategic partnership with Torus Digital will allow us to bridge the gap between traditional banking and modern investing, offering a robust '3-in-1' account that caters to both savers and investors. Customers can now embark on their financial journey at no cost, with zero account opening charges, and seamlessly save, trade, and invest all in one unified platform." The account also features 'Invest Your Interest' (IYI), allowing users to automate their monthly interest investment into ETFs through SIPs starting at just ₹27, potentially increasing returns by up to 15%. The account is integrated with Torus Digital's broking platform, allowing seamless trading without the need to transfer funds. The account also provides unmatched liquidity and control with T+1 trade payouts credited directly into the same account. Torus Digital offers a Trading and Demat account with a variety of investment products, including equities, mutual funds, IPOs, derivatives, ETFs, and indices. Users can enjoy flat trading charges, zero account opening charges, 4x leverage with margin trading, chart-based execution, and advanced algo trading. The Demat Account, regulated by CDSL, offers lifetime free AMC, 100% digital onboarding, and low DP charges. Torus Digital's strategic partnership with SSFB aims to simplify investing and foster financial inclusion through digital innovation. They aim to build a robust retail investor base and target an AUM of ₹4,000-5,000 crore over the next 2 to 3 years. About Torus Digital Mumbai-based Torus Digital is a next-generation wealth technology platform spread across 10+ locations in India, offering a comprehensive suite of broking and digital banking services in partnership with Suryoday Small Finance Bank Ltd. Operating under the regulatory purview of the RBI, SEBI, and IRDA, Torus Digital provides users with seamless access to investment opportunities across NSE and BSE segments--including equities, mutual funds, IPOs, derivatives, ETFs, and indices, with the highest standards of transparency, security, and integrity. With a strong focus on accessibility and innovation, the Torus Digital mobile app is available for download on both the Google Play Store and Apple App Store, enabling users to manage their finances and investments anytime, anywhere. About Suryoday Small Finance Bank Suryoday Small Finance Bank Limited is a scheduled commercial bank. Commencing its operations as an NBFC and for over a decade, with a clear focus on serving customers in the unbanked and underbanked segments and promoting financial inclusion. Pursuant to receipt of the RBI Final Approval, Suryoday started its operations as an SFB on January 23, 2017. Suryoday is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in Fiscal 2020. The bank has a wide presence across 15 states and UTs across India through its 710 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha. SSFB offers a wide array of services to customers, through its array of asset and liability products, via multiple delivery channels. Suryoday SFB is listed on NSE and BSE
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Business Standard
22-05-2025
- Business
- Business Standard
Groww to hike minimum brokerage, DP and MTF charges from June 21
Groww India, the largest brokerage in terms of active clients, is planning to raise its minimum brokerage from late next month. In an email to its clients, the broking firm said that from 21 June onwards, it will raise its minimum broking charges from ₹2 to ₹5. Currently, the firm charges a brokerage of ₹20 or 0.1 per cent of the executed order, whichever is lower, but with a minimum charge of ₹2. The minimum charge will be raised to ₹5 from 21 June. The company also revised the interest rate it charges for the margin trading facility (MTF) to 14.95 per cent per annum for the funded amount. Groww charges 15.75 per cent per annum as MTF interest for funding amounts less than ₹25 lakh and 9.75 per cent for ₹25 lakh and above. MTF is a product that allows brokers' clients to buy stocks by paying only part of the total value. The broker funds the remaining amount and charges interest on this loan. Depository Participant (DP) charges for clients will also go up—from ₹18.5 per day per stock regardless of the number of sale transactions—to ₹20 per sale transaction. DP charges are mandatory fees applicable to every sale transaction. These charges are only applied when an investor sells stocks and are levied by the depository. They also include additional fees charged by the broker for facilitating the transaction. 'While the depository charged Groww for every sell transaction, Groww covered those charges for you. With the revised pricing, DP charges for each sell transaction will now be applicable to you,' the brokerage said in the email. Prakarsh Gagdani, CEO of Torus Financial Market, said the cost of doing broking business is forcing brokerages to hike rates. 'Technology is a big cost. Secondly, because of the regulatory changes, the revenues that came earlier are being reduced. The changes in referrals, true to label norm, in funds being parked with brokers, and the interest brokers used to get, as well as an increase in the lot size of derivatives, impacted revenue. On one hand, the cost is increasing, and because of the changes, revenues are getting hit. The only way in front of brokers is to increase the charges,' Gagdani said.
