NEW DELHI – NITI Aayog CEO Nidhi Chhibber has released the second edition of the landmark report, “From Borrowers to Builders: Women and India’s Evolving Credit Market.” Published in collaboration with the Women Entrepreneurship Platform (WEP), TransUnion CIBIL, and MicroSave Consulting (MSC), the report highlights a massive shift in how women engage with formal finance.
The ₹76 Lakh Crore Milestone
The report reveals that women now account for 26% of India’s total system credit, with a collective portfolio of ₹76 lakh crore. This marks a staggering 4.8x expansion in credit exposure since 2017.
Key Growth Indicators (2017–2025):
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Rapid Expansion: Credit active women borrowers grew at a CAGR of 9%.
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Rising Penetration: Credit penetration among eligible women jumped from 19% to 36%.
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Commercial Surge: Loans to women-led businesses grew by 31% CAGR between 2022 and 2025, nearly double the overall commercial credit growth of 17%.
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Product Diversification: While gold and personal loans remain popular, there is a significant rise in housing loans, signaling increased asset ownership among women.
The Shift: From Access to Participation
The report underscores a transition from basic financial “access” to deeper “participation”:
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MFI Graduation: Approximately 19% of active microfinance borrowers have now transitioned to individual retail or commercial loans.
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Geographic Spread: While South and West India remain leaders, Northern states like Bihar and Uttar Pradesh are showing rapid growth in women’s credit access.
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Digital Enablers: Digital Public Infrastructure (DPI) in payments and identity has significantly lowered entry barriers, moving women from informal to formal credit systems.
With nearly 45 crore credit-eligible women in India, the report suggests that the market is still in its early stages of a long-term growth trajectory.
