Women are opening More Bank Accounts, 39.2% of all Bank Accounts belong to Women

Did You Know? 39.2% of all the Bank Accounts in India belong to Women. Yes it’s correct. Women are opening more and more bank accounts and becoming financially aware. This has been mentioned in the latest data released by the Government of India.

The Ministry of Statistics and Programme Implementation (MoSPI), Government of India, has released the 26th edition of its flagship publication titled “Women and Men in India 2024: Selected Indicators and Data.” This report provides details of gender-based trends across various sectors and provides detailed insights into the socio-economic realities faced by women and men in the country.

The publication collects data from multiple ministries, departments, and organizations, providing gender-disaggregated statistics on population, education, health, economic activity, and participation in decision-making. The data covers rural and urban regions, enabling a comprehensive and nuanced understanding of gender disparities and progress.

This report is a vital resource for policymakers, researchers, and stakeholders working towards gender equity. It helps identify persistent gaps and highlights areas where policy interventions can promote inclusive and sustainable development. You can read full report PDF given below.

Key Highlights from the Report:

• Education: Gender Parity Index (GPI) at the primary and higher secondary levels remains consistently high, reflecting strong female enrolment. While upper primary and elementary levels show some fluctuation, they stay close to parity.
• Labour Participation: The Labour Force Participation Rate (LPFR) for individuals aged 15 and above has improved significantly, rising from 49.8% in 2017-18 to 60.1% in 2023-24.
• Banking Access: Women now hold 39.2% of all bank accounts and account for 39.7% of total deposits, with higher participation noted in rural areas, where 42.2% of account holders are women.
• Stock Market Participation: The number of DEMAT accounts surged from 33.26 million in March 2021 to 143.02 million by November 2024—a more than fourfold increase. While male account holders continue to outnumber females, female participation has seen steady growth. Female accounts rose from 6.67 million to 27.71 million, while male accounts grew from 26.59 million to 115.31 million over the same period.
• Entrepreneurship: There has been a steady rise in female-headed proprietary establishments across the manufacturing, trade, and services sectors from 2021-22 to 2023-24.
• Electoral Participation: The total number of registered voters increased from 173.2 million in 1952 to 978 million in 2024. Female voter turnout, which peaked at 67.2% in 2019, stood at 65.8% in 2024, with the gender gap in turnout narrowing—female voter participation even surpassed male turnout in 2024.
• Startups: There is a rising trend in the number of startups recognized by DPIIT that include at least one woman director. This number grew from 1,943 in 2017 to 17,405 in 2024, signaling positive momentum in women’s entrepreneurship.