Women Bank Ownership Soars to 39.2% Across Rural India

New Delhi, April 6: Women own 39.2 per cent of all bank accounts and contribute to 39.7 per cent of total deposits in India and their participation is highest in rural areas, where they make up 42.2 per cent of account holders, the government data showed on Sunday.

Key Points

Women own 39.2% of bank accounts nationwide

Female startup participation dramatically increases

Voter registration shows strong female engagement

There is rise in demat account over the years, indicating growing participation in the stock market.

From March 31, 2021, to November 30, 2024, the total number of demat accounts increased from 33.26 million to 143.02 million, marking more than a fourfold rise.

Male account holders have consistently outnumbered female account holders, but female participation has also shown a growing trend.

The number of male accounts rose from 26.59 million in 2021 to 115.31 million in 2024, while female accounts increased from 6.67 million to 27.71 million during the same period, according to the publication titled "Women and Men in India 2024: Selected Indicators and Data", released by the Ministry of Statistics and Programme Implementation (MoSPI).

"Rising percentage of female-headed proprietary establishments across manufacturing, trade, and other services sectors over the years 2021-22, 2022-23 and 2023-24 has been observed," according to the data.

Over the years, there has been an increase in the number of startups recognised by DPIIT with at least one-woman director, reflecting a positive trend in female entrepreneurship. The total number of such startups rose from 1,943 in 2017 to 17,405 in 2024.

The total number of electors increased from 173.2 million in 1952 to 978 million in 2024, with a notable rise in female voter registration.

Female voter turnout varied over the years, reaching 67.2 per cent in 2019 but slightly declining to 65.8 per cent in 2024. The gender gap in voting has narrowed, with female turnout surpassing male turnout in 2024.

The primary and higher secondary levels have consistently high gender parity index (GPI), indicating strong female enrolment. Upper primary and elementary levels saw fluctuations but remained close to parity.

"The labour force participation rate (LPFR) in usual status for ages 15 years and above has improved from 49.8 per cent (2017-18) to 60.1 per cent (2023-24)," showed the data.

Reader Comments

Priya K.

This is such encouraging news! As a woman from a rural background, I've seen firsthand how financial independence changes lives. My mother never had her own bank account, but now my sister and I both do. Progress! 💪

Rahul M.

While the growth is impressive, 39% still seems low considering women make up nearly half the population. Banks should do more financial literacy programs specifically targeting women in smaller towns.

Sunita P.

The rise in female demat accounts is what excites me most! I started investing last year after attending a women's investment workshop. More such initiatives please! 📈

Amit S.

Great to see these positive trends. My wife handles all our family finances better than I ever could. Financial empowerment leads to overall empowerment - hope the numbers keep rising!

Neha T.

The voter turnout stats are interesting - women outvoting men in 2024! Shows how much things are changing at grassroots level. Next step: more women in political leadership roles!

Vikram J.

Respectful criticism: The article could have included more data on regional variations. States like Kerala probably have very different numbers compared to say, Bihar. More granular data would be helpful.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:

Women Empowerment Banking India Financial Trends Female Entrepreneurship MoSPI Report