Recent data from the National Statistical Office (NSO) reveals a stark disparity in bank deposits between men and women in India. According to the “Men and Women” report, women hold only 20.8% of the total bank deposits in the country, even though they own 36.4% of all bank accounts.
A Closer Examination of Deposits
Women account holders in India have a total deposit amount of ₹39 trillion out of the overall ₹187 trillion in bank deposits. This figure encompasses various types of accounts, including those belonging to Hindu undivided families, resident individuals, farmers, traders, professionals, self-employed individuals, and wage and salary earners.
Urban vs. Rural Deposits
The distribution of bank deposits among women varies significantly between urban and rural areas. In urban areas, women hold just 16.5% of the total deposits, which amounts to ₹1.9 trillion. In contrast, women in rural areas hold 30% of the total deposits, totaling ₹5.91 trillion. This disparity is largely due to the widespread use of Jan Dhan accounts in rural areas, which has contributed to a higher percentage of deposits held by women there.
Women in Senior Management
The representation of women in senior management positions has seen notable growth. In 2017, there were 23,685 women in such roles. By 2023, this number had increased to 34,879. However, men continue to hold the majority of senior management positions, with their numbers rising from 150,300 in 2017 to 186,900 in 2023.
Board of Directors and Banking Sector Representation
When it comes to board positions, women still lag behind. There are currently 762,000 women on boards, compared to 1.9 million men. In the banking sector, women hold 441,000 positions, while men occupy 1.32 million roles.
