Nearly 7.5 crore working women in India offer a significant market potential of about Rs 2.8 lakh crore for the banking, financial services, and insurance (BFSI) sector, as per a recent report. Despite a surge in women’s involvement in India’s digital landscape, their ownership of financial products lags behind, with only 17 per cent having active personal loans, 13 per cent credit card outstandings, and around 23 per cent mutual fund assets under management.
India’s financial inclusion index has climbed from 46.0 in 2018 to 67.0 in 2025, with women now constituting nearly 47 per cent of internet users. However, they are still underrepresented in crucial financial products. The report highlighted a substantial information gap, with 97 per cent of women surveyed pointing to a lack of information as a deterrent to adopting new financial products.
Only a small fraction of women, less than 10 per cent, opt for high-risk, return-maximizing investment strategies. Family influence significantly impacts financial decision-making, with about 84 per cent of women seeking financial advice from family members. Despite this, women borrowers exhibit better credit behavior, with 66 per cent falling into prime or higher credit score categories compared to 60 per cent of men, and lower delinquency rates at 1.6 per cent versus 2.2 per cent among men.
Jasbir S. Juneja, Partner at RedSeer Strategy Consultants, emphasized the importance of transitioning from access to adoption for the BFSI sector’s future growth. He noted that women are evolving as a high-quality segment in BFSI, characterized by disciplined borrowing habits, consistent saving practices, and goal-oriented investment approaches.
