Women Hold 39% Of Bank Accounts In India: Govt Data

(MENAFN- KNN India) New Delhi, Apr 8 (KNN) According to the Ministry of Statistics and Programme Implementation's (MoSPI) recent publication, "Women and Men in India 2024: Selected Indicators and Data," women in India hold 39.2 per cent of all bank accounts, with a higher proportion of 42.2 per cent in rural areas.

Despite this significant ownership, women contribute to only 39.7 per cent of total bank deposits, indicating a disparity between account ownership and deposit amounts.

The report also highlights a substantial increase in DEMAT accounts, reflecting growing participation 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.

While male account holders have consistently outnumbered female account holders, female participation has shown a positive trend, with accounts increasing from 6.67 million to 27.71 million during the same period.

Furthermore, the report notes a rise in female-headed proprietary establishments across manufacturing, trade, and other services sectors over the years 2021-22 to 2023-24, indicating a positive trend in female entrepreneurship.

Additionally, the number of startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) with at least one woman director increased from 1,943 in 2017 to 17,405 in 2024.

These findings underscore the progress in women's financial inclusion and entrepreneurship in India, while also highlighting areas where disparities persist, necessitating continued efforts to achieve gender parity in economic participation.

(KNN Bureau)

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