The report has been  jointly published by TransUnion CIBIL,  Women Entrepreneurship Platform (WEP) of NITI Aayog, and MicroSave Consulting (MSC).

Key Highlights

• Steady Rise in Women Borrowers: Women seeking credit grew ~3X between 2019 and 2024, reflecting increased demand.
• Demographics of Women Borrower: 60% of women borrowers are from semi-urban or rural areas. 
  • Women under 30 only account for 27% of retail credit uptake by women, compared to 40% for men.
• Regional Status: Southern states have higher shares of women borrowers as compared to Northern and Central States
• Rise in Awareness: 27 million women borrowers had checked their credit information and score with CIBIL.

Challenges faced by Women Borrowers

• Credit Aversion: Women avoid formal loans due to social norms, fear of default repercussions, and complex application processes.
• Poor Banking Experience: Many banks are unwelcoming and fail to offer advisory services tailored to women’s needs.
• Limited Institutional Support: Women are perceived as higher-risk borrowers due to limited credit history and business experience.
  • E.g. 79% of women-owned businesses are self-financed, with only 7% of MSME credit directed to women. 
• Barriers to Credit readiness: Due to lack of necessary documentation, guarantors, and collateral.
  • E.g. ~22.2% of women-led collective enterprises are not credit-ready.