NITI Aayog has released a report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”. Launched by NITI Aayog CEO Shri B.V.R. Subrahmanyam, the report highlights a significant rise in financial awareness among women, with 27 million women actively monitoring their credit as of December 2024—a 42% increase from the previous year. The report has been jointly published by TransUnion CIBIL, NITI Aayog’s Women Entrepreneurship Platform (WEP), and MicroSave Consulting (MSC).
At the launch event, Shri B.V.R. Subrahmanyam emphasized that financial accessibility plays a crucial role in empowering women entrepreneurs. He noted that the government is committed to fostering financial inclusion through the Women Entrepreneurship Platform (WEP), which provides support in financial literacy, credit access, mentorship, and market linkages. However, achieving equitable financial access requires a joint effort from financial institutions and policymakers. To drive this mission forward, the Financing Women Collaborative (FWC) has been established under WEP, inviting more financial sector stakeholders to participate in this initiative.
Anna Roy, Principal Economic Advisor at NITI Aayog and Mission Director of WEP, underscored the importance of women’s entrepreneurship in enhancing workforce participation and fostering economic growth. She stated that promoting women-led enterprises could generate employment for 150 to 170 million people, boosting female participation in the labor force.
The report indicates that women’s share in the total self-monitoring credit base increased from 17.89% in 2023 to 19.43% in December 2024. Notably, credit monitoring among women in non-metro regions grew by 48%, surpassing the 30% growth seen in metro areas. Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana collectively accounted for 49% of all self-monitoring women, with the southern region leading at 10.2 million women. Meanwhile, states such as Rajasthan, Uttar Pradesh, and Madhya Pradesh witnessed the highest compounded annual growth rates (CAGR) in active women borrowers over the last five years.
Since 2019, women’s participation in business loan origination has increased by 14%, while their share in gold loans has risen by 6%. By December 2024, women comprised 35% of business borrowers. However, challenges remain, including credit aversion, inadequate banking experiences, barriers to credit readiness, and issues related to collateral and guarantors. As financial awareness improves and women’s credit scores strengthen, financial institutions have the opportunity to design gender-smart financial products that cater to the unique needs of women borrowers.