Study OAS · 03 March 2025

Women Empowering India's Financial Growth

Report Launch:

• NITI Aayog launched the report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story” on March 3, 2025.
• The report is a collaborative effort with TransUnion CIBIL, the Women Entrepreneurship Platform (WEP) of NITI Aayog, and MicroSave Consulting (MSC).

Key Findings:

• 42% YoY Growth in Credit Awareness:

  • As of December 2024, 27 million women are actively monitoring their credit scores—a 42% increase from the previous year.

• Rising Self-Monitoring Base:

  • Women’s share of the total self-monitoring base grew from 17.89% in 2023 to 19.43% in 2024.

• Regional Variations:

  • Non-metro regions witnessed a 48% growth in self-monitoring, compared to 30% in metro areas.
  • States like Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana account for 49% of self-monitoring women, with the Southern region leading at 10.2 million.

• Loan Origination Trends:

  • Since 2019, women’s share in business loan origination increased by 14%.
  • Their share in gold loans has grown by 6%, with women representing 35% of business borrowers by December 2024.

Government Initiatives for Women's Financial Inclusion:

• Mahila Samman Savings Certificate:

  • A scheme launched by the government to encourage savings among women.  
  • Offers a fixed interest rate of 7.5% for a tenure of two years.

• Pradhan Mantri Jan Dhan Yojana (PMJDY):

  • National Mission for Financial Inclusion to ensure access to financial services, including banking, remittance, credit, insurance & pension.  
  • A significant number of accounts opened under PMJDY are held by women, promoting their financial inclusion.  

• Stand-Up India Scheme:

  • Promotes entrepreneurship among women and Scheduled Castes & Scheduled Tribes.
  • Facilitates loans to women entrepreneurs to set up greenfield enterprises.  

• Mudra Yojana:

  • Provides funding to Non-Corporate Small Business Segment (NCSBS) including women entrepreneurs.  
  • A significant portion of Mudra loans have been availed by women entrepreneurs.  

Additional Information:

NITI Aayog

• The NITI Aayog (National Institution for Transforming India) is a policy think tank of the Government of India. Here's a summary:  
• Replaced the Planning Commission: NITI Aayog was established on January 1, 2015, replacing the Planning Commission, which had been in place since 1950.  
• Shift in Approach: This change signified a shift from a top-down, centralized planning model to a more collaborative, bottom-up approach involving states.  

  Key Objectives:

  NITI Aayog aims to:

• Foster cooperative federalism by involving states in economic policy-making.  
• Develop a shared vision of national development priorities.  
• Provide strategic and technical advice to the central and state governments.  
• Promote innovation, entrepreneurship, and knowledge-based initiatives.  

  Structure:

• Governing Council: Comprises the Chief Ministers of all states and Lieutenant Governors of Union Territories.  
• Chairman: The Prime Minister of India.  
• Vice-Chairman: Appointed by the Prime Minister.  
• CEO: Chief Executive Officer, appointed by the Prime Minister.  
• Full-time Members, Part-time Members, Ex-officio Members: Experts and specialists from various fields.  

  Focus Areas:

  NITI Aayog focuses on various areas, including:

• Sustainable Development Goals (SDGs)  
• Infrastructure development
• Innovation and technology  
• Agriculture and rural development
• Health and education