Upstox’s customer base in Jharkhand jumps by 474% since March 2021
PINAKI MAJUMDAR Jamshedpur, Dec 1: Upstox (also known as RKSV Securities India Pvt Ltd), one of India’s leading investment platforms, has…
PINAKI MAJUMDAR
Jamshedpur, Dec 1: Upstox (also known as RKSV Securities India Pvt Ltd), one of India’s leading investment platforms, has introduced revamped features on its app that will radically simplify investing for Indians.
By reimagining the investor experience, Upstox aims to make the investment process seamless, intuitive and more engaging.
These revamped features suite is a pivotal part of Upstox’s core campaign ‘Invest Right, Invest Now’ – a mission to equip investors about where, why and how to invest.
80% Jharkhand customers aged 18-35 years
In the state of Jharkhand, the growth in demat account numbers on Upstox was one of the fastest in India.
The company has seen an impressive increase in its customer base in Jharkhand which jumped by 474% in October 2023, since March 2021.
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Of all the customers, nearly 80 % of the customer base in Jharkhand fall in the age bracket of 18-35 years.
In the state’s capital – Ranchi, Upstox is present with a diverse customer base where more than 78 % of the users are between 18-35 years of age; comprising businessmen, government employees and homemakers.
Almost 27% of the customer base for Upstox comes from Dhanbad and Ranchi put together.
Amit Lalan, Director, Upstox who was in Jamshedpur today said, “Our efforts in creating awareness of financial investments are being well received from all over the country, and I am grateful for that. We are positive that our core vision of driving a culture of diverse financial investing will help us reach for newer horizons, and make us a partner of choice for our customers. We are committed to improving equity participation in India, one customer at a time.”
Looking ahead, Upstox aims to provide individuals with a holistic, 360-degree approach to investing, enabling users to learn, decide, invest and trade, with a simple, reliable and transparent platform.
Revamped Mutual Fund offering
For instance, the Mutual Fund landscape is extensive, with over 10,000 funds to choose from. Hence most users, especially new entrants in the market, find the process of ‘picking the right fund’ extremely daunting and complex.
To address this, Upstox has launched a revamped Mutual Fund offering aimed at simplifying the entire investing experience, by taking over the heavy lifting required in the process.
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As part of its efforts to educate investors, Upstox has introduced “Truths Of Investing”, a succinct educational resource accessible within the Mutual Funds section.
For example, by initiating a Systematic Investment Plan (SIP) with just ₹5000, yielding a 12.5% return, and remaining invested for 25 years, individuals have the potential to witness their investment grow to a crore, highlighting the impactful nature of compounding.
Upstox presents various other enlightening truths that are easy to comprehend and implement.
Simplified stock analysis
Additionally, the firm offers its users a “Simplified stock analysis page” featuring analyst ratings, checklists, and condensed information to empower users in making confident stock investment decisions.
Another notable introduction from Upstox this year is “UpLearn”, delivering easily understandable educational materials tailored for learners at all levels across India.
As the official sponsor of the 2023 World Cup, along with the ‘Invest Right, Invest Now, campaign, Upstox also introduced a social media campaign called “Khaata Khola Kya?” to nudge users to start their investment journey during the World Cup period.
With a customer-centric focus and constant effort on increasing equity participation, Upstox is now home to over 12 million users.
