Women own 39.2% of bank accounts in India: Government report

Women own 39.2% of all bank accounts in India, with an even higher percentage of 42.2% in rural areas, according to a government report. The Ministry of Statistics and Programme Implementation (MoSPI) released the 26th edition of its publication titled “Women and Men in India 2024: Selected Indicators and Data” on Sunday.
The publication provides a detailed snapshot of gender-related indicators across key areas such as population, education, health, economic participation, and decision-making, sourced from various government Ministries, Departments, and Organizations, as per PTI report.
According to the report, women account for 39.2% of all bank accounts and contribute to 39.7% of the total deposits in the country. Female participation is particularly significant in rural areas, where women hold 42.2% of bank accounts.
The report also highlighted the growing participation of women in the stock market, with a significant rise in DEMAT accounts. From March 31, 2021, to November 30, 2024, the total number of DEMAT accounts increased from 33.26 million to 143.02 million, marking a more than fourfold growth. While male account holders continue to outnumber female account holders, female participation has been on the rise. The number of male accounts grew from 26.59 million in 2021 to 115.31 million in 2024, while female accounts rose from 6.67 million to 27.71 million during the same period.
The report also noted a steady increase in female-headed proprietary establishments across sectors such as manufacturing, trade, and services in recent years (2021-2024).
In the political sphere, the total number of electors in India has surged from 173.2 million in 1952 to 978 million in 2024, with a notable rise in female voter registration. Female voter turnout reached 67.2% in 2019 but slightly declined to 65.8% in 2024. However, the gender gap in voting has narrowed, with female voter turnout surpassing male turnout in the 2024 elections.
The report further pointed to a rise in the number of startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) with at least one woman director, reflecting a positive trend in female entrepreneurship. The number of such startups increased from 1,943 in 2017 to 17,405 in 2024.
In education, the Gender Parity Index (GPI) for primary and higher secondary levels has remained consistently high, indicating strong female enrollment. While fluctuations were observed in the upper primary and elementary levels, gender parity has largely been maintained.
Additionally, the Labour Force Participation Rate (LFPR) for individuals aged 15 years and above has risen from 49.8% in 2017-18 to 60.1% in 2023-24, signaling improved participation of women in the workforce.
“Women and Men in India 2024: Selected Indicators and Data” serves as an important resource, offering insights into both progress made in gender equality and the continuing challenges. By analyzing key socio-economic indicators, the report aims to support the development of gender-sensitive policies that foster inclusive and sustainable development.