New Delhi, March 5 Nearly 7.5 crore working women in India represent an untapped market opportunity worth around Rs 2.8 lakh crore for the banking, financial services, and insurance (BFSI) sector, a report showed on Thursday.
Women’s participation in India’s digital ecosystem has grown rapidly in recent years, but ownership of financial products remains disproportionately low despite higher access, according to a report by RedSeer Strategy Consultants.
India’s financial inclusion index has risen from 46.0 in 2018 to 67.0 in 2025, and women now account for nearly 47 per cent of internet users but remain underrepresented across key financial products, the report added.
Women account for only 17 per cent of active personal loans, 13 per cent of credit card outstandings, and about 23 per cent of mutual fund assets under management (AUM), indicating a gap between digital access and financial adoption.
The report also noted a key barrier is the information gap, with 97 per cent of women surveyed citing lack of information as a reason for hesitation toward new financial products.
“About 93 per cent of women save to grow their corpus, while 56 per cent link financial decisions to life goals such as education, healthcare, or long-term security. Fewer than 10 per cent prefer high-risk, return-maximising investment strategies,” the report mentioned.
Family influence also plays a significant role in financial decision-making, with nearly 84 per cent of women relying on family members for financial advice.
Despite this, women borrowers demonstrate stronger credit behaviour. Around 66 per cent fall into prime or higher credit score brackets compared with 60 per cent of men, while delinquency rates are lower at 1.6 per cent versus 2.2 per cent among men.
Jasbir S. Juneja, Partner at RedSeer Strategy Consultants, said the next phase of growth in the BFSI sector will depend on converting access into adoption.
“Women are emerging as one of the highest-quality cohorts in BFSI — disciplined borrowers, consistent savers, and goal-oriented investors,” Juneja said.
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