Women borrowers grow 42% YoY; report highlights financial inclusion.

NITI Aayog, in collaboration with TransUnion CIBIL and MicroSave Consulting, has released a report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story.” The study highlights a significant rise in credit awareness among women, with 27 million actively monitoring their credit as of December 2024—a 42% increase from the previous year.

The report emphasises the role of financial access in empowering women entrepreneurs. It notes that women now make up 19.43% of the self-monitoring credit base, up from 17.89% in 2023. Growth in non-metro areas (48%) outpaced metros (30%), with Maharashtra, Tamil Nadu, and Karnataka leading in active women borrowers.

Women’s participation in business loans has increased by 14% since 2019, while gold loan share has risen by 6%. However, barriers like credit aversion and collateral issues persist. The report calls for gender-inclusive financial products to sustain this momentum.

Source: PIB