In big structural shift, women borrowers become a major driver of credit demand in India

Women in India have been making waves when it comes to credit, with women borrowers accounting for Rs 76 lakh crore of credit, representing 26% of total system credit (in 2025). This marks a near five-fold increase since 2017 and points to a structural shift in India’s credit landscape, The Times of India reported on April 8.

A joint report by TransUnion Cibil, Niti Aayog’s Women Entrepreneurship Platform (WEP), and MicroSave Consulting highlighted that women are increasingly transitioning from passive beneficiaries to active drivers of credit demand. The number of women accessing formal credit grew at a compounded annual growth rate (CAGR) of 9% between 2017 and 2025.

During the same period, outstanding credit for women rose 4.8 times, compared with a 2.9 times increase in overall credit, indicating a significantly faster expansion in women-led borrowing, Bhavesh Jain, MD and CEO, TransUnion Cibil, told the newspaper.


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The report noted that the growth of digital infrastructure in recent years has enabled easier onboarding, faster loan processing, and improved access to information, thereby strengthening women’s participation in the financial system.

Women’s share in retail loan originations increased to 27% in 2025 from 24% in 2022, reflecting broad-based growth across segments. Additionally, the share of new-to-credit women borrowers in retail credit rose by 10 percentage points to 38% in 2025, signalling expansion into previously unserved segments.

The report also emphasised that access to finance serves as a structural enabler of women’s economic participation, reinforcing the importance of inclusive financial systems.

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Meanwhile, the number of women with active business-purpose loans grew at a CAGR of 31% over the past three years, showing a clear shift towards enterprise-led economic activity among women.