The AMFI Women’s Day Report (March 2025) highlights a profound shift in the financial landscape of India, where women are taking control of their financial futures. From banking accessibility to mutual fund investments, the report showcases a remarkable transformation in women’s financial participation. This analysis dissects key insights, trends, and implications for the future.
Financial Inclusion on the Rise
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- The Financial Inclusion Index (FI Index) improved from 60.1 in March 2023 to 64.2 in March 2024, reflecting stronger banking penetration.
- Over 55% of PMJDY accounts are held by women, demonstrating growing financial independence.
- Women’s access to banking services has surged from 53% in 2015-16 to 79% in 2019-21, according to the National Family Health Survey.
Workforce participation and literacy as key drivers
- Female labour force participation has nearly doubled, from 23.3% in 2017-18 to 41.7% in 2023-24.
- Rural women have driven this growth, with participation rising from 24.6% to 47.6%.
The female literacy rate has seen faster growth than male literacy, rising by ~12% from 2011 to 2024 in rural areas.
Women Embracing Digital Finance
- Digital payment adoption among women doubled from 14% (2014) to 28% (2021).
The number of women internet users rose to 37% in 2023 from 30% in 2022, enabling greater financial engagement.
Rise in Mutual Fund Investments
- Women now own 33% of individual mutual fund assets (AUM), up from Rs 4.59 lakh crore (2019) to Rs 11.25 lakh crore (2024).
- 1 in 4 mutual fund investors is a woman, driven by awareness programs and digital accessibility.
Women investors are leaning toward equity, with equity AUM increasing from 43.3% (2019) to 63.7% (2024).
Increasing Commitment to Long-Term Investing
- The proportion of women investors with over five years of holding period grew from 8.8% (2019) to 21.3% (2024).
- Systematic Investment Plan (SIP) adoption has surged, with SIP AUM growing 319.3% since 2019.
- Younger women, especially in smaller cities, are driving the growth of long-term investments.
Women’s increasing financial engagement signals a socio-economic transformation. The shift from saving to investing, coupled with digital finance adoption, positions women as major stakeholders in India’s financial markets. However, financial literacy programs, enhanced digital infrastructure, and policy support will be key to sustaining this momentum.
