International Journal of Banking, Risk and Insurance

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Financial Inclusion of Women in India : Issues, Challenges, and Solutions


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1 Market Expert, India
     

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Financial inclusion of women in India has improved over the years, but we are still in the beginning phase and there is a long way to go. Around 80% of the Indian women are financially illiterate; with dedicated training and guidance, these women can be taught to invest and create wealth, avail government benefits, and establish a career for themselves, thereby leading to women empowerment. There are several factors that has led to the improvement, the most recent being demonetisation. It forced people, especially women in the home, to open bank accounts to park excess savings. Furthermore, COVID-19 turned more people towards the financial markets to find genuine investments for their savings. In this paper, an attempt has been made to analyse the current situation of financial inclusion of women, identify issues and challenges, and suggest solutions and strategies to improve and increase the inclusion of women in the finance sector, which is critical for the development of our nation.

Keywords

Financial Inclusion of Women, Financial Inclusion, Financial Literacy, Gender Equality.
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  • https://www.livemint.com/opinion/columns/how-india-could-speed-up-the-financial-inclusion-of-women-11615220290174.html

  • https://economictimes.indiatimes.com/wealth/plan/women-should-take-this-quiz-to-check-their-financial-literacy/articleshow/74415218.cms?from=mdr

  • http://rchiips.org/nfhs/factsheet_NFHS-5.shtml

  • https://www.statista.com/statistics/792074/india-internet-penetration-rate/

  • https://www.catalyst.org/research/women-in-financial-services/

  • https://www.statista.com/statistics/983020/female-labor-force-participation-rate-india/

  • https://censusindia.gov.in/census_And_You/gender_composition.aspx#:~:text=Indian%20Census%20has%20the%20tradition,are%20females%20in%20the%20population.

  • https://www.sciencefocus.com/future-technology/future-technology-22-ideas-about-to-change-our-world/

  • https://www.google.co.in/amp/s/www.thehindubusinessline.com/markets/stock-markets/marking-presence-of-women-in-stock-market-trading/article34014099.ece/amp/


Abstract Views: 155

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  • Financial Inclusion of Women in India : Issues, Challenges, and Solutions

Abstract Views: 155  |  PDF Views: 0

Authors

Hemma Guptaa
Market Expert, India

Abstract


Financial inclusion of women in India has improved over the years, but we are still in the beginning phase and there is a long way to go. Around 80% of the Indian women are financially illiterate; with dedicated training and guidance, these women can be taught to invest and create wealth, avail government benefits, and establish a career for themselves, thereby leading to women empowerment. There are several factors that has led to the improvement, the most recent being demonetisation. It forced people, especially women in the home, to open bank accounts to park excess savings. Furthermore, COVID-19 turned more people towards the financial markets to find genuine investments for their savings. In this paper, an attempt has been made to analyse the current situation of financial inclusion of women, identify issues and challenges, and suggest solutions and strategies to improve and increase the inclusion of women in the finance sector, which is critical for the development of our nation.

Keywords


Financial Inclusion of Women, Financial Inclusion, Financial Literacy, Gender Equality.

References