Unlocking Rs 2.8 Lakh Crore: The Potential of 7.5 Crore Working Women in India’s BFSI Sector

Key Takeaways

7.5 crore working women in India represent a Rs 2.8 lakh crore opportunity for BFSI.

Women make up 47% of internet users but are underrepresented in financial products.

Information gaps significantly hinder women's adoption of financial products.

Women exhibit superior credit behavior compared to their male counterparts.

Family influences play a crucial role in women's financial decision-making.

New Delhi, March 5 (NationPress) Approximately 7.5 crore working women in India signify a largely unexplored market potential estimated at Rs 2.8 lakh crore for the banking, financial services, and insurance (BFSI) sector, as revealed by a recent report released on Thursday.

The involvement of women in India’s digital landscape has surged significantly in recent years; however, their ownership of financial products remains surprisingly low, despite improved access, according to the study conducted by RedSeer Strategy Consultants.

The financial inclusion index for India has increased from 46.0 in 2018 to 67.0 in 2025, and women now comprise nearly 47 percent of internet users, yet they are still underrepresented in crucial financial products, the report indicates.

Currently, women hold only 17 percent of active personal loans, 13 percent of credit card balances, and about 23 percent of mutual fund assets under management (AUM), reflecting a substantial divide between digital access and actual financial product adoption.

The report also highlights a critical barrier: the information gap, with 97 percent of women surveyed pointing to insufficient information as a major reason for their reluctance to engage with new financial products.

“Approximately 93 percent of women save to enhance their financial portfolio, and 56 percent associate financial decisions with life objectives such as education, healthcare, or long-term security. Less than 10 percent prefer high-risk, high-return investment approaches,” the report elaborated.

Family dynamics significantly influence financial decisions, with nearly 84 percent of women depending on family members for financial guidance.

Despite these challenges, women borrowers exhibit superior credit behavior. About 66 percent fall into the prime or higher credit score categories, compared to 60 percent of men, while the delinquency rates are lower at 1.6 percent against 2.2 percent for men.

Jasbir S. Juneja, a Partner at RedSeer Strategy Consultants, stated that the forthcoming phase of growth in the BFSI sector hinges on transitioning access into actual adoption.

“Women are emerging as one of the most valuable segments in the BFSI industry—disciplined borrowers, steady savers, and goal-driven investors,” Juneja remarked.

Point of View

The gap in financial product ownership reveals a pressing need for targeted educational initiatives. It is vital to bridge this gap to foster financial inclusion and empower women as key players in the economy.

NationPress

9 May 2026

Frequently Asked Questions

What is the potential market for women in the BFSI sector?

The potential market for approximately 7.5 crore working women in the BFSI sector is around Rs 2.8 lakh crore.

How much has women's financial inclusion improved in India?

India’s financial inclusion index has increased from 46.0 in 2018 to 67.0 in 2025.

What percentage of women currently hold personal loans?

Women account for only 17 percent of active personal loans.

What is a significant barrier to women's financial product adoption?

A significant barrier is the information gap, with 97 percent of women citing lack of information as a reason for hesitance.

How do women borrowers compare to men in terms of credit behavior?