MicroSave Consulting (MSC), TransUnion CIBIL, and NITI Aayog's Women Entrepreneurship Platform (WEP) collaborated to publish the research
Important Points to Remember
Consistent Growth in Female Borrowers: Due to rising demand, the number of female borrowers increased by about three times between 2019 and 2024.
Demographics of Women Borrower: 60% of women borrowers are from semi-urban or rural areas.
Women under 30 make up only 27% of those who take out retail credit, while men make up 40%.
Regional Status: Southern states have larger shares of women borrowers as compared to Northern and Central States.
Rise in Awareness: 27 million women borrowers had examined their credit information and score with CIBIL.
Problems with Credit Aversion for Female Borrowers:
The suggestions
Increase the number of women who can obtain business loans by implementing measures for cheap lending, gathering data that breaks down sex, and increasing guarantee coverage. Create Gender-Intelligent Financial Products by creating customized solutions that take into account the requirements of women throughout their lives as well as societal conventions and systemic obstacles. Rethink Credit Risk Assessment: Prevent gender prejudice by utilizing AI and big data. Encourage digital transactions, recordkeeping, and business formalization to increase credit readiness
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