Expanded Women's Loan Portfolio Reaches ₹36.5 Lakh Crore, Showing an 18% Increase
In the year 2024, the landscape of borrowing in India saw significant changes, particularly among women borrowers. The number of active women borrowers surged, reaching a staggering 8.3 crore, marking a notable increase from the previous year's 7.5 crore.
This growth in active women borrowers was mirrored in the overall retail portfolio, which expanded by 16.7%, rising from Rs 121.9 lakh crore in 2023 to Rs 142.3 lakh crore in 2024.
The growth in the retail portfolio was distributed across various loan products. Gold loans accounted for 43% of the portfolio outstanding for women borrowers, followed by education loans at 36%, business loans at 25%, and home loans at 32%.
However, the share of women borrowers in active loans decreased from 17% to 15% during the same period. This decline was observed in personal loans, which saw a 4% decrease in outstanding, and in the share of the portfolio outstanding for women borrowers in credit cards, which dropped by 3%. The number of active credit cards availed by women borrowers also decreased by 4%.
Interestingly, women borrowers from southern states had a higher credit exposure across various loan products compared to those from western and northern states.
Looking ahead, Exim Bank projected a 4.5% growth in good exports for the September quarter. The bank's share of loans to female customers in gold, education, housing, and commercial loans in Chennai in September 2024 remains to be determined, as current data does not provide this information.
By December 2024, the outstanding portfolio of women borrowers in India reached Rs 36.5 lakh crore. Despite the decline in certain areas, the overall growth and trend in women's borrowing demonstrate a promising future for financial inclusion and empowerment in India.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
