Women Hold 39.2% of Bank Accounts in India, Leading in Rural Areas: Government Data
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Synopsis
According to government data, women in India own 39.2% of bank accounts and contribute 39.7% of total deposits, with the highest participation in rural areas at 42.2%. The report highlights a significant rise in female entrepreneurship, voter registration, and labor force participation over recent years.
Key Takeaways
- Women own 39.2% of bank accounts in India.
- Rural areas have the highest female participation at 42.2%.
- The number of demat accounts increased fourfold from 2021 to 2024.
- Female-led startups rose significantly from 2017 to 2024.
- Labor force participation for women improved from 49.8% to 60.1%.
New Delhi, April 6 (NationPress) Women possess 39.2% of all banking accounts in India and contribute 39.7% to the total deposits, with their participation peaking in rural regions, where they account for 42.2% of account holders, according to government statistics released on Sunday.
There has been a notable increase in demat accounts over the years, illustrating enhanced engagement in the stock market.
From March 31, 2021, to November 30, 2024, the total number of demat accounts surged from 33.26 million to 143.02 million, representing an increase of more than four times.
While male account holders have consistently outnumbered females, the trend shows a significant rise in female participation.
The count of male accounts grew from 26.59 million in 2021 to 115.31 million in 2024, whereas female accounts expanded from 6.67 million to 27.71 million during the same timeframe, based on the report “Women and Men in India 2024: Selected Indicators and Data,” published by the Ministry of Statistics and Programme Implementation (MoSPI).
“An increasing percentage of female-led proprietary establishments across various sectors including manufacturing, trade, and services has been observed between 2021-22 and 2023-24,” the data indicates.
Additionally, the number of startups recognized by DPIIT with at least one female director has risen, showcasing a favorable trend in female entrepreneurship. The total number of such startups jumped from 1,943 in 2017 to 17,405 in 2024.
The total electorate increased from 173.2 million in 1952 to 978 million in 2024, with a significant rise in female voter registration.
Female voter turnout has varied, peaking at 67.2% in 2019 but slightly declining to 65.8% in 2024. The gender voting gap has narrowed, with female turnout surpassing male turnout in 2024.
At primary and higher secondary levels, there remains a consistently high gender parity index (GPI), reflecting strong female enrollment. Upper primary and elementary levels have shown fluctuations but stayed close to parity.
“The labor force participation rate (LFPR) for individuals aged 15 years and older has improved from 49.8% in 2017-18 to 60.1% in 2023-24,” the data reveals.
