‘Women Borrowers form 28% of India’s Retail Credit Consumer Base’

New Delhi, March 8 : Latest insights from TransUnion CIBIL indicate sustained growth in the participation of women borrowers in India’s retail credit market, which now includes more than 47 million active women borrowers.
Over the last six years, the share of women borrowers grew to 28 per cent in September, 2020, up from 23 per cent in September, 2014, indicating increasing inclusion of women in India’s credit market. This represents a CAGR of 21 per cent.
Male borrowers have increased at a CAGR of 16 per cent during the same period.
In terms of sanctioned loan amount, women borrowers account for Rs 15.1 lakh crore of retail loans, which has also grown at 12 per cent CAGR over the last six years.
Improved access to economic opportunities has catalyzed financial inclusion of women, the credit information company said in its insight report.
Speaking on the findings, the Chief Operating Officer of TransUnion CIBIL, Harshala Chandorkar, said: “Increased participation of women in the labour force, coupled with progressive government initiatives and policies on improving access to economic opportunities for women, has driven the growth of women borrowers in India’s retail credit market.”