In big structural shift, women borrowers become a major driver of credit demand in India
The joint report by TransUnion Cibil, Niti Aayog’s Women Entrepreneurship Platform (WEP) and MicroSave Consulting highlighted that women are increasingly shifting from passive beneficiaries to active drivers of loan demand. The number of women accessing formal credit increased at a compound annual growth rate (CAGR) of 9% between 2017 and 2025.
TransUnion Cibil MD and CEO Bhavesh Jain told the newspaper that outstanding loans to women increased by 4.8 times in the same period, whereas the 2.9 times increase in overall credit indicates a significantly faster expansion in women-led borrowing.
Also read | Government releases draft norms to standardize state and territory GDP estimates
The report stated that the growth of digital infrastructure in recent years has enabled easier recruitment, faster loan transactions and improved access to information, thus strengthening women’s participation in the financial system.
Women’s share in personal loan disbursements increased from 24% in 2022 to 27% in 2025; This reflects broad-based growth across segments. Additionally, the share of new female borrowers in personal loans increased by 10 percentage points to 38% in 2025, signaling expansion into previously unserved segments.
The report also emphasized that access to finance plays a structurally facilitating role in women’s economic participation and reinforces the importance of inclusive financial systems. Read also | Morgan Stanley cuts India’s FY27 growth outlook to 6.2% amid Gulf conflict
Meanwhile, the number of women with active business loans has increased at a CAGR of 31% over the past three years; This shows a clear shift towards business-oriented economic activities among women.
