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  • Writer's pictureStay Informed With Sanil | Sanil Pinto

Indian Women and Personal Finance – Money Is Power & Indian Women Need Both

Updated: Mar 23, 2023




The other day I was having a detailed discussion with my clients on a roadmap for their future goals. The clients are a couple who are both doctors. The wife actually is the more qualified person (from an education perspective). But despite having a great educational background the wife was letting the husband make all the decisions on their personal finance and investments. This got me thinking and I was wondering how many Indian Women are really involved in personal finance. I dug up some statistics and they were quite alarming

Statistics that highlight the issue of women's financial inclusion in India:

1.According to a survey conducted by the Reserve Bank of India (RBI), only 33% of women in India have bank accounts compared to 50% of men.

2. The same survey found that only 9% of women in India have taken loans from formal financial institutions, while the figure for men is 14%.

3. A study by the Centre for Financial Inclusion found that only 30% of women in India have participated in financial decisions related to their households, compared to 60% of men.

4. Another survey conducted by DSP Mutual Fund found that only 33% of women in India are actively involved in investment decision-making, while the rest rely on their husbands or other family members.

5. Women in India are also less likely to have access to formal financial services, such as insurance and credit, which can limit their financial options and opportunities.




Personal finance is an essential aspect of every individual's life, and it is crucial to make informed decisions about managing one's money effectively. However, in India, women are often excluded from financial decision-making, despite being the backbone and managers of households. This lack of financial independence and decision-making power can have significant consequences for women's long-term financial security and wellbeing.





Lets looks at the clear benefits that women can achieve by participating in financial decisions

Greater financial security: When women are involved in financial planning, they are more likely to have a better understanding of their family's financial situation and can help to ensure that the household is financially secure. This can help to reduce financial stress and improve overall well-being.


Increased independence: Women who are involved in financial planning are more likely to be financially independent and less reliant on others for financial support. This can give them greater freedom to pursue their goals and make their own decisions.


Empowerment: Financial planning can be an empowering experience for women, as it allows them to take control of their financial future and make informed decisions about their money. This can help to boost their self-esteem and confidence.


Better decision-making: Women bring a unique perspective to financial decision-making and can help to ensure that decisions are made in the best interests of the entire family. Research has shown that diverse teams make better decisions than homogenous ones, so including women in financial planning can lead to better outcomes.


Improved savings: Women who are involved in financial planning are more likely to prioritize saving and investing, which can help to build long-term wealth and improve financial stability.


More opportunities for growth and investment: By involving women in financial planning, families can tap into a wider range of skills and expertise, which can lead to more opportunities for growth and investment. Women may bring new ideas or perspectives that can help to identify new investment opportunities or strategies.


In summary, involving women in financial planning can lead to a range of benefits, including greater financial security, independence, and empowerment. As a Husband, Father and a brother make sure you encourage women family members to participate in all financial decisions taken for the household. By doing this Women will be encourage to contribute to better decision-making, improved savings, and more opportunities for growth and investment. By recognizing the value of women's contributions to financial planning, we can help to create more equitable and prosperous societies.


To sum it all up in one sentence - “Money is Power and Indian Women need Both”


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@stayinformedwithsanil | www.wiremeshin.com

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