Tag: best demat account India

Fastest Demat Account Opening in India: A Comprehensive Guide
Looking for the fastest demat account opening in India? Discover brokers offering instant online accounts, compare features & charges, and start investing in th

Looking for the fastest demat account opening in India? Discover brokers offering instant online accounts, compare features & charges, and start investing in the Indian stock market (NSE, BSE) today!

Fastest Demat Account Opening in India: A Comprehensive Guide

Introduction: Riding the Wave of Digital Investing

India’s financial landscape is undergoing a rapid transformation, fueled by technological advancements and increasing financial literacy. More and more Indians are participating in the equity markets, seeking to grow their wealth beyond traditional avenues like fixed deposits. This surge in interest has led to a significant demand for dematerialized (Demat) accounts, the gateway to investing in shares, mutual funds, and other securities.

Gone are the days of lengthy paperwork and protracted waiting periods. Today, several brokerage firms offer the promise of near-instant Demat account opening. But what does “fastest” truly mean, and what factors should you consider beyond speed when choosing a Demat account provider? This comprehensive guide will delve into the world of Demat accounts, exploring the nuances of online account opening and helping you make an informed decision.

Why a Demat Account is Essential for Indian Investors

Before we dive into the specifics of account opening, let’s understand why a Demat account is indispensable for any investor in India. A Demat account, short for dematerialized account, holds your shares and securities in electronic form. Think of it as a digital locker for your investments. Here’s why it’s vital:
- Mandatory for Trading: The Securities and Exchange Board of India (SEBI) mandates a Demat account for trading in the Indian stock market (NSE and BSE).
- Convenience and Security: Forget about physical share certificates. Your holdings are stored electronically, reducing the risk of loss, theft, or damage.
- Easy Transactions: Buying and selling shares become seamless with online transfers between your Demat account and trading account.
- Access to Various Investment Options: A Demat account allows you to invest in equities, IPOs, mutual funds, ETFs, bonds, and more.
- Simplified Corporate Actions: Receiving dividends, bonus shares, or participating in rights issues is automated through your Demat account.
Factors Determining the “Fastest” Demat Account Opening

The term “fastest Demat account opening” is often used loosely. While some brokers boast instant account activation, several factors contribute to the overall speed and efficiency of the process:
- e-KYC and Aadhaar Integration: Brokers leveraging e-KYC (electronic Know Your Customer) and Aadhaar-based authentication can significantly accelerate the verification process.
- Online Documentation: The ability to upload documents digitally eliminates the need for physical paperwork, saving time and effort.
- Broker’s Efficiency: The efficiency of the broker’s internal processes, including document verification and account activation, plays a crucial role.
- Technology Infrastructure: A robust and user-friendly online platform ensures a smooth and hassle-free account opening experience.
- Working Hours: Account opening is typically faster during regular working hours.
Comparing Brokers Offering Fast Demat Account Opening

Several brokerage firms in India compete on speed and convenience when it comes to opening a Demat account. Here’s a comparison of some popular options, focusing on their account opening process and key features:

Zerodha

Zerodha, one of India’s largest discount brokers, is known for its user-friendly platform and competitive pricing. They offer a completely online account opening process through e-KYC. Aadhaar linking is recommended for a faster process.

Upstox

Upstox is another popular discount broker that provides a seamless online account opening experience. Their platform is intuitive and well-designed, making it easy to navigate the process.

Groww

Groww is known for its simplified interface, making it particularly appealing to new investors. They offer a 100% online account opening process with minimal paperwork.

Angel One

Angel One, a full-service broker, also offers online Demat account opening. They provide research reports and advisory services, which can be beneficial for investors seeking guidance.

ICICI Direct

ICICI Direct, the broking arm of ICICI Bank, allows existing ICICI Bank customers to open a Demat account seamlessly. They offer a wide range of investment options and research tools.

Disclaimer: This is not an exhaustive list, and the information provided is for general knowledge purposes only. Please conduct thorough research and compare features, charges, and services before choosing a broker.

Beyond Speed: Factors to Consider When Choosing a Demat Account

While the speed of account opening is important, it shouldn’t be the sole deciding factor. Consider these aspects to ensure you choose the right Demat account provider:
- Brokerage Charges: Understand the brokerage fees for trading in different segments (equity, derivatives, etc.). Discount brokers typically charge lower fees than full-service brokers.
- Account Maintenance Charges (AMC): Check the AMC levied by the broker. Some brokers offer lifetime free AMC under certain conditions.
- Platform Usability: Choose a platform that is user-friendly, intuitive, and offers the features you need (e.g., charting tools, research reports).
- Customer Support: Evaluate the quality of customer support provided by the broker. Prompt and helpful support is crucial when you encounter issues.
- Investment Options: Ensure the broker offers access to the investment options you are interested in (e.g., IPOs, mutual funds, bonds).
- Research and Advisory Services: If you need investment guidance, choose a broker that provides research reports and advisory services.
- Security and Reliability: Opt for a broker with a strong reputation for security and reliability.
Step-by-Step Guide to Opening a Demat Account Online

The process of opening a Demat account online is generally straightforward. Here’s a general guide:
1. Choose a Broker: Research and select a reputable broker that meets your needs.
2. Visit the Broker’s Website: Go to the broker’s website and click on the “Open Demat Account” or similar button.
3. Enter Personal Details: Fill in the online application form with your personal information, including your name, address, date of birth, PAN card details, and Aadhaar number.
4. e-KYC Verification: Complete the e-KYC process by verifying your Aadhaar details and uploading scanned copies of your PAN card, address proof, and bank account details.
5. In-Person Verification (IPV): Some brokers may require an IPV, which can be done online via video call.
6. Account Activation: Once your documents are verified, your Demat account will be activated. You will receive your account details (e.g., Client ID) via email or SMS.
Documents Required for Opening a Demat Account

Keep these documents handy when opening your Demat account:
- PAN Card: Mandatory for opening a Demat account.
- Aadhaar Card: Recommended for faster e-KYC verification.
- Address Proof: Passport, Aadhaar card, Voter ID, Driving License, or utility bill.
- Bank Account Details: Bank statement or cancelled cheque.
- Passport-sized Photograph: Scanned copy for online upload.
Investing Beyond Equities: Diversifying with a Demat Account

While Demat accounts are primarily associated with equity investments, they also open doors to a wide range of other financial instruments. Here’s how you can leverage your Demat account for diversification:
- Mutual Funds: Invest in diversified mutual fund schemes across various asset classes (equity, debt, hybrid) through your Demat account. SIPs (Systematic Investment Plans) are a popular way to invest regularly in mutual funds.
- Exchange Traded Funds (ETFs): ETFs are passively managed funds that track a specific index or commodity. They offer diversification at a low cost and can be traded like stocks through your Demat account.
- Initial Public Offerings (IPOs): Apply for IPOs of companies listing on the NSE and BSE through your Demat account.
- Sovereign Gold Bonds (SGBs): Invest in gold without the hassle of physical storage. SGBs are issued by the Reserve Bank of India and can be held in your Demat account.
- Corporate Bonds: Invest in debt instruments issued by companies.
- National Pension System (NPS): While not directly linked to a Demat account in the same way as shares, mutual funds, etc., the returns from NPS investments contribute to your overall portfolio which a Demat account facilitates in managing. NPS is a government-sponsored pension scheme that allows you to save for retirement.
- Equity Linked Savings Scheme (ELSS): Invest in tax-saving mutual funds (ELSS) through your Demat account to claim deductions under Section 80C of the Income Tax Act.
- Public Provident Fund (PPF): While not directly held in a Demat account, understanding your overall investment portfolio, including PPF, alongside your Demat holdings is crucial for financial planning.
Conclusion: Embark on Your Investment Journey

Opening a Demat account is the first step towards participating in the exciting world of Indian financial markets. While the promise of the fastest demat account opening india is alluring, remember to prioritize factors like brokerage charges, platform usability, and customer support. Choose a broker that aligns with your investment needs and risk tolerance. With careful planning and a diversified portfolio, you can leverage your Demat account to achieve your financial goals.
November 12, 2025
Unlock Zero Brokerage: Your Guide to Demat Accounts in India
Looking for a zero brokerage demat account in India? Dive into our comprehensive guide exploring the benefits, risks, charges, and best options for trading in t

Looking for a zero brokerage demat account in India? Dive into our comprehensive guide exploring the benefits, risks, charges, and best options for trading in the Indian stock market without brokerage fees.

Unlock Zero Brokerage: Your Guide to Demat Accounts in India

Introduction: The Rise of Zero Brokerage Demat Accounts

The Indian stock market has witnessed a revolution in recent years, fueled by increasing financial literacy and easier access to trading platforms. A key driver of this growth is the emergence of zero brokerage demat accounts. These accounts have democratized investing, making it more accessible and affordable for a wider range of individuals. No longer are investors burdened by hefty brokerage fees on every trade. This shift has significant implications for both seasoned traders and newcomers to the equity markets. For the average Indian investor, particularly those starting with smaller capital, the potential to save on brokerage can significantly enhance returns.

What is a Demat Account and Why Do You Need One?

Before delving into the specifics of zero brokerage, it’s crucial to understand the fundamental role of a demat account. A dematerialized account, or demat account, is an electronic repository for holding shares and securities. Think of it like a bank account for your investments. When you buy shares of a company listed on the NSE or BSE, they are credited to your demat account. Similarly, when you sell shares, they are debited from your account. This system has replaced the cumbersome process of physical share certificates, making trading faster, more secure, and more efficient. Having a demat account is mandatory for trading in the Indian equity market. Without one, you cannot participate in buying or selling stocks, bonds, or mutual fund units.

Traditional Brokerage vs. Zero Brokerage: A Comparison

Traditionally, brokers charged a commission, or brokerage, on every transaction. This could be a percentage of the transaction value or a fixed fee per trade. These brokerage charges could eat into profits, especially for frequent traders. Zero brokerage plans offer a compelling alternative. They eliminate or significantly reduce the brokerage charged on equity delivery trades. While some brokers may still charge fees for intraday trading or options trading, the zero brokerage offering primarily targets investors who prefer long-term investments. The impact of this change is profound. Consider an investor making multiple small trades throughout the year. The savings on brokerage can be substantial, potentially boosting overall returns. This makes zero brokerage accounts particularly attractive for those employing strategies like SIPs (Systematic Investment Plans) in equity markets.

The Benefits of Opening a Zero Brokerage Demat Account

Reduced Trading Costs

This is the most obvious benefit. By eliminating or minimizing brokerage fees, you can significantly reduce your trading costs, leading to higher returns on your investments. This is particularly beneficial for frequent traders and those with limited capital.

Increased Profitability

The reduced trading costs directly translate to increased profitability. With less money going towards brokerage, more of your investment generates returns.

Encourages Long-Term Investing

Zero brokerage encourages a buy-and-hold strategy. Since you’re not penalized for holding stocks for longer periods, you’re more likely to adopt a long-term investment horizon, which is generally considered a more prudent approach to wealth creation.

Accessibility for New Investors

The affordability of zero brokerage accounts makes the stock market more accessible to new investors. The lower entry barrier allows individuals with limited capital to start investing and participate in the potential growth of the equity markets.

Transparency

Zero brokerage plans often come with transparent fee structures. Investors know exactly what they’re paying for, eliminating hidden charges and surprises.

Potential Drawbacks and Hidden Charges to Watch Out For

While zero brokerage demat accounts offer numerous advantages, it’s crucial to be aware of potential drawbacks and hidden charges. It’s essential to read the fine print and understand the complete fee structure before opening an account.

Annual Maintenance Charges (AMC)

Most brokers charge an annual maintenance fee for maintaining your demat account. These charges can vary significantly between brokers. In some instances the phrase “zero brokerage demat account india” is simply a marketing term to attract customers but these AMCs are higher than a traditional brokerage account.

Inactivity Charges

If your account remains inactive for a prolonged period, some brokers may levy inactivity charges. Be sure to check the broker’s policy on inactivity and the associated fees.

Transaction Charges

While brokerage may be zero, you will still be subject to regulatory and exchange transaction charges like Securities Transaction Tax (STT), Goods and Services Tax (GST), and SEBI turnover fees. These are statutory charges applicable to all transactions.

Hidden Fees

Some brokers may levy hidden fees for specific services, such as fund transfers, account statements, or research reports. It’s important to clarify these charges before opening an account.

Limited Features or Platform Issues

Some zero brokerage brokers may offer a limited range of features or experience technical glitches on their trading platforms. Consider your trading needs and choose a broker with a reliable and user-friendly platform.

Factors to Consider When Choosing a Zero Brokerage Demat Account

Choosing the right zero brokerage demat account requires careful consideration of various factors. Here’s a checklist to help you make an informed decision:

Brokerage Charges on Other Segments

If you plan to trade in other segments, such as intraday trading, futures and options, or commodities, check the brokerage charges for those segments. Some brokers may offer zero brokerage only for equity delivery trades.

Account Opening and Maintenance Fees

Compare the account opening fees and annual maintenance charges (AMC) across different brokers. Look for brokers that offer competitive rates and transparent fee structures.

Trading Platform and Features

Assess the user-friendliness, reliability, and features offered by the broker’s trading platform. Consider factors such as charting tools, research reports, and mobile app availability.

Customer Support

Evaluate the quality and responsiveness of the broker’s customer support. Choose a broker that offers multiple channels of communication, such as phone, email, and live chat.

Research and Advisory Services

If you’re new to investing, consider brokers that offer research and advisory services. These services can provide valuable insights and guidance to help you make informed investment decisions.

Reputation and Reliability

Check the broker’s reputation and reliability. Look for reviews and ratings from other investors to gauge their experience with the broker.

Account Security

Ensure that the broker has robust security measures in place to protect your account and personal information. Look for features such as two-factor authentication and encryption.

Popular Zero Brokerage Demat Account Providers in India

Several reputable brokers in India offer zero brokerage demat accounts. Here are a few popular options:
- Zerodha: Known for its user-friendly platform and transparent pricing.
- Upstox: Offers a streamlined trading experience and a range of investment options.
- Groww: A popular platform for investing in mutual funds and stocks.
- Angel One: A full-service broker offering research and advisory services.
- 5paisa: Offers a flat-fee brokerage model for all segments.
Disclaimer: This is not an exhaustive list, and the suitability of each broker will depend on your individual needs and preferences. It is crucial to conduct your own research and compare different brokers before making a decision. Please refer to each broker’s website for current plans and features.

How to Open a Zero Brokerage Demat Account

The process of opening a zero brokerage demat account is generally straightforward and can be done online. Here are the basic steps:
1. Choose a Broker: Research and select a broker that meets your needs and preferences.
2. Fill out the Application Form: Complete the online application form with accurate information.
3. Provide KYC Documents: Submit scanned copies of your KYC (Know Your Customer) documents, such as your PAN card, Aadhaar card, address proof, and bank statement.
4. Verification: The broker will verify your documents and may conduct a video verification.
5. Account Activation: Once your account is verified, it will be activated, and you will receive your login credentials.
Beyond Stocks: Diversifying Your Portfolio with Zero Brokerage

While zero brokerage often focuses on stock investments, remember that diversification is key to a well-rounded portfolio. Consider exploring other investment options alongside equities, even if brokerage fees apply to some of them. Some popular options include:
- Mutual Funds: SIPs in mutual funds, especially ELSS (Equity Linked Savings Schemes) for tax saving, are a great way to diversify and potentially earn higher returns.
- Bonds: Investing in government or corporate bonds can provide a stable source of income.
- Public Provident Fund (PPF): A long-term savings scheme with tax benefits.
- National Pension System (NPS): A retirement savings scheme with tax advantages.
Conclusion: Is a Zero Brokerage Demat Account Right for You?

Zero brokerage demat accounts have undoubtedly revolutionized the Indian stock market, making investing more accessible and affordable for a wider audience. The benefits of reduced trading costs, increased profitability, and encouragement of long-term investing are compelling. However, it’s crucial to be aware of potential drawbacks and hidden charges, such as AMC, inactivity fees, and transaction charges. By carefully considering your needs, comparing different brokers, and understanding the fine print, you can make an informed decision about whether a zero brokerage demat account is right for you. Remember to prioritize a well-diversified portfolio that aligns with your financial goals and risk tolerance, and consult with a financial advisor if needed. Ultimately, the goal is to leverage the power of the Indian equity markets to achieve your long-term financial aspirations.
November 12, 2025
Open Your Door to Investments: How to Open a Demat Account in India
Confused about investing? Learn how to open demat account in India easily! Our guide simplifies the process, documents needed, and choosing the right broker for

Confused about investing? Learn how to open demat account in india easily! Our guide simplifies the process, documents needed, and choosing the right broker for your needs.

Open Your Door to Investments: How to Open a Demat Account in India

Introduction: Why You Need a Demat Account in India

In today’s India, if you’re serious about building wealth through investments in the stock market, mutual funds, or other financial instruments, a Demat account is no longer a luxury; it’s a necessity. Think of it as your secure digital locker for holding shares, bonds, and other securities. Before Demat accounts, trading involved physical share certificates, leading to delays, risks of loss or damage, and cumbersome transfer processes. Today, thanks to advancements driven by the Securities and Exchange Board of India (SEBI), the entire process is streamlined and secure.

A Demat account, short for Dematerialized account, holds your investments electronically. It’s linked to your trading account, facilitating seamless buying and selling of securities on exchanges like the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The emergence of Demat accounts has revolutionized the Indian financial landscape, making investing more accessible and efficient for everyone from seasoned traders to first-time investors venturing into the world of SIPs (Systematic Investment Plans) in mutual funds or exploring the potential of ELSS (Equity Linked Savings Schemes) for tax benefits.

Understanding the Demat Account Ecosystem

Before diving into the “how-to,” let’s understand the key players involved:
- Depositories: These are organizations that hold securities in electronic form. In India, the two main depositories are:
  
  National Securities Depository Limited (NSDL)
  
  Central Depository Services (India) Limited (CDSL)
- Depository Participants (DPs): These are intermediaries, often banks, brokerage firms, or financial institutions, that act as agents of the depositories. They provide Demat account services to investors. When you open a Demat account, you are essentially opening it with a DP.
Step-by-Step Guide: How to Open a Demat Account in India

Opening a Demat account is a relatively straightforward process. Here’s a step-by-step guide:

1. Choose a Depository Participant (DP)

The first step is selecting a DP. Consider the following factors when making your choice:
- Brokerage Fees: DPs charge fees for opening the account, annual maintenance, and transaction charges. Compare fees across different DPs. Discount brokers generally offer lower brokerage rates compared to full-service brokers.
- Services Offered: Some DPs offer additional services like research reports, advisory services, and access to different investment products. If you’re a beginner, these resources can be helpful.
- Online Platform: A user-friendly online platform is crucial for easy trading and account management. Look for features like real-time quotes, charting tools, and mobile app accessibility.
- Customer Support: Reliable customer support is essential in case you encounter any issues. Check reviews and ratings to gauge the quality of customer service.
- Reputation: Choose a DP with a good reputation and a proven track record. Ensure they are registered with SEBI.
2. Choose Between Online and Offline Account Opening

You typically have two options for opening a Demat account:
- Online Account Opening: Many DPs offer online account opening facilities. This is generally faster and more convenient. You’ll typically need to upload scanned copies of your documents and complete the KYC (Know Your Customer) process online.
- Offline Account Opening: You can also visit a DP’s branch and fill out a physical application form. This might be preferred if you are not comfortable with online processes or require assistance with the paperwork.
3. Fill the Account Opening Form

Whether you’re applying online or offline, you’ll need to fill out an account opening form. Provide accurate and complete information, including your personal details, address, PAN (Permanent Account Number), bank account details, and nominee details.

4. Complete the KYC Process

KYC is mandatory for all investors in India. You’ll need to provide documents to verify your identity and address. Acceptable documents include:
- Proof of Identity (POI):
  
  PAN Card (mandatory)
  
  Aadhaar Card
  
  Passport
  
  Driving License
  
  Voter ID
- Proof of Address (POA):
  
  Aadhaar Card
  
  Passport
  
  Driving License
  
  Voter ID
  
  Bank Statement (not older than 3 months)
  
  Utility Bill (not older than 3 months)
Most DPs now offer e-KYC (electronic KYC) services, which allow you to complete the KYC process online using your Aadhaar card and OTP (One-Time Password) authentication. This significantly speeds up the account opening process.

5. In-Person Verification (IPV)

As part of the KYC process, you might need to undergo In-Person Verification (IPV). This involves a video call or physical visit to the DP’s office where an authorized person verifies your identity and the documents you’ve submitted. Some DPs conduct online IPV through video conferencing.

6. Agreement and Account Activation

Once your application and documents are verified, you’ll receive an account opening agreement. Read it carefully before signing. The agreement outlines the terms and conditions of the Demat account, including the fees, charges, and your rights and responsibilities. After signing the agreement, your Demat account will be activated, and you’ll receive your Demat account number and login credentials.

Documents Required to Open a Demat Account

As mentioned earlier, you’ll need to submit certain documents to open a Demat account. Here’s a summary:
- PAN Card (mandatory)
- Aadhaar Card
- Proof of Address (as listed above)
- Passport-sized photographs
- Cancelled cheque leaf from your bank account
Choosing the Right Demat Account: Key Considerations

Selecting the right Demat account is crucial for a smooth investment journey. Consider these factors:
- Account Type: Some DPs offer different types of Demat accounts, such as basic Demat accounts with limited features or accounts tailored for specific investment needs.
- Brokerage Plans: Understand the different brokerage plans offered by the DP. Some DPs offer fixed brokerage plans, while others charge a percentage of the transaction value. Choose a plan that suits your trading frequency and investment style.
- Margin Trading Facility: If you plan to engage in margin trading, check if the DP offers this facility and understand the associated risks and charges.
- Trading Platforms: Assess the quality and features of the trading platforms offered by the DP. A user-friendly and reliable platform is essential for efficient trading.
- Research and Advisory Services: If you need guidance on investment decisions, choose a DP that provides research reports, recommendations, and advisory services.
Fees and Charges Associated with a Demat Account

Be aware of the different fees and charges associated with a Demat account:
- Account Opening Fee: Some DPs charge a fee for opening the account.
- Annual Maintenance Charges (AMC): This is an annual fee charged for maintaining the Demat account.
- Transaction Charges: These are charges levied on each transaction (buying or selling) of securities.
- Custodian Charges: These are charges for safekeeping your securities.
- Pledge Charges: These are charges for pledging your securities as collateral for loans.
- Dematerialization/Rematerialization Charges: These are charges for converting physical share certificates into electronic form (dematerialization) or vice versa (rematerialization).
Carefully compare the fees and charges of different DPs before making your decision.

Benefits of Having a Demat Account

Having a Demat account offers several advantages:
- Safe and Secure: Eliminates the risk of loss, theft, or damage associated with physical share certificates.
- Convenient: Makes trading and investing easier and more efficient.
- Faster Transactions: Enables faster transfer and settlement of securities.
- Reduced Paperwork: Reduces the need for physical paperwork and documentation.
- Accessibility: Allows you to access and manage your investments from anywhere in the world.
- Corporate Benefits: Ensures that you receive corporate benefits like dividends, bonus shares, and rights issues directly into your Demat account.
- Holding Investments: Besides equity shares, a Demat account is crucial for holding investments such as Exchange Traded Funds (ETFs), Gold Bonds, and units of Mutual Funds.
Demat Account vs. Trading Account: Understanding the Difference

It’s important to understand the difference between a Demat account and a trading account. While they are often used together, they serve distinct purposes.
- Demat Account: Holds your securities in electronic form.
- Trading Account: Facilitates the buying and selling of securities on the stock exchanges. It acts as a gateway to the market.
You need both a Demat account and a trading account to actively trade in the stock market. The trading account is used to place buy and sell orders, while the Demat account is used to hold the securities you buy and transfer the securities you sell.

Common Mistakes to Avoid When Opening a Demat Account

Avoid these common mistakes when opening a Demat account:
- Providing Inaccurate Information: Ensure that all the information you provide on the account opening form is accurate and complete.
- Not Reading the Account Opening Agreement: Carefully read the account opening agreement before signing.
- Ignoring Fees and Charges: Understand the fees and charges associated with the Demat account.
- Not Nominating a Beneficiary: Nominate a beneficiary to ensure smooth transfer of your securities in case of your demise.
- Choosing the Wrong DP: Research and choose a DP that meets your investment needs and preferences.
Conclusion: Start Your Investment Journey Today

Opening a Demat account is the first step towards unlocking the potential of the Indian stock market and building long-term wealth. With the information provided in this guide, you should be well-equipped to navigate the process and choose the right Demat account for your needs. Remember to research different DPs, compare fees and services, and understand the terms and conditions before making your decision. So, take the plunge and start your investment journey today! Consider diversifying your portfolio with options like Public Provident Fund (PPF) and National Pension System (NPS) alongside your equity investments for a well-rounded financial plan.
November 12, 2025