Women borrowers grew 3 times in 5 years: Report

NEW DELHI: Women looking for credit score grew three times between 2019 and 2024, reflecting elevated demand amongst feminine borrowers, whereas about 60% of ladies borrowers availing credit score have been from semi-urban or rural areas, a report confirmed on Monday.
Since 2019, girls’s share in enterprise mortgage origination has elevated by 14% and their share in gold loans has grown by 6%, with girls accounting for 35% of enterprise borrowers by Dec final 12 months, in accordance with the report ready by govt suppose tank Niti Aayog, Transunion Cibil and MicroSave Consulting.
The report examines the evolving position of ladies in the nation’s financial progress, specializing in their untapped potential and the systemic limitations they face. Women represent almost half of nation’s inhabitants however contribute solely 18% to the GDP.
The report confirmed that girls below 30 years of age account for under 27% of retail credit score, in comparison with 40% for males.

By 2024, 42% of loans availed by girls have been for private finance, a marginal enhance from 39% in 2019. While the credit score provide to girls in enterprise sectors has improved, nearly all of loans availed by girls proceed to be in opposition to gold – 36% of all loans availed by girls in 2024 have been gold loans in comparison with 19% of loans availed in 2019, in accordance with the report.
“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,” mentioned B V R Subrahmanyam, CEO of Niti Aayog.