Empowering Women Through Credit

Between 2019 and 2024, the landscape of credit seekers has seen a remarkable shift, with women seeking credit growing threefold. This surge reflects an increased demand among female borrowers, showcasing a significant move towards financial inclusivity.

Geographical Insights

About 60% of women borrowers availing credit were from semi-urban or rural areas, indicating a widespread reach of financial services beyond urban centers.

Business and Gold Loans on the Rise

Since 2019, women's share in business loan origination has increased by 14%, and their share in gold loans has grown by 6%. By December last year, women accounted for 35% of business borrowers.

Challenges and Opportunities

The report sheds light on the evolving role of women in the country's economic growth, focusing on their untapped potential and the systemic barriers they face. Despite constituting nearly half of the country's population, women contribute only 18% to the GDP.

Young Women and Credit

Women under 30 years of age account for only 27% of retail credit, compared to 40% for men, highlighting a gap that needs bridging.

Looking Ahead

By 2024, 42% of loans availed by women were for personal finance, a marginal increase from 39% in 2019. The majority of loans availed by women continue to be against gold, indicating a preference for secured loans.

"The findings are encouraging. A 42% year-on-year increase in women actively monitoring their credit health demonstrates a significant step towards financial awareness and responsible credit management," said B V R Subrahmanyam, CEO of Niti Aayog.