New Delhi, 7 March (IANS). There has been a huge increase in the number of women borrowers in India in the last few years. It has seen a 45 percent increase from 2022 on an annual basis. This information was given in several reports.
The report by the Fintech platform Empocate stated that loans worth Rs 4.8 lakh crore have been taken by women borrowers of 2024 alone.
Healthcare has been the top priority for women. 33.5 percent of the loans taken by women borrowers have been used for medical emergency.
A loan has also been taken by a large number of women for education. 20.6 percent of the loans taken by women borrowers have been used for skill development and learning.
17.4 percent of the loan is taken by women borrowers for the purpose of business.
The sense of entrepreneurship in eastern India is particularly strong, where 25 percent of women borrowers are using loans for their business.
Another report by CRIF High Mark has also revealed that in 2024, women were ahead of men in loan hike and repayment discipline.
The report said that the number of active women borrowers has increased by 10.8 percent to 8.3 crore in 2024. This growth rate was much higher than the 6.5 percent increase recorded for men.
According to a recent report by NITI Aayog, at least 2.7 crore women in India are taking loans to run their business and actively monitor their credit scores, which reflects a strong growth in financial awareness.
By December 2024, the number of women monitoring their credit increased by 42 percent compared to the previous year.
-IANS
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