Women Hold ₹76 Lakh Crore Credit, Share Rises to 26%: NITI Aayog Report

Credit exposure grows 4.8x since 2017; shift from access to enterprise-driven participation

New Delhi: NITI Aayog has released the second edition of its report “From Borrowers to Builders: Women and India’s Evolving Credit Market”, highlighting a sharp rise in women’s participation in the formal credit ecosystem.

The report shows that women borrowers now hold a credit portfolio of ₹76 lakh crore, accounting for 26 per cent of the total system credit, with exposure growing 4.8 times since 2017.

Chief Executive Officer, NITI Aayog, Nidhi Chhibber said the findings reflect a structural shift in economic participation, driven by the convergence of digital public infrastructure and formal financial systems.

She noted that women borrowers are increasingly moving beyond entry-level credit towards retail and business lending, indicating deeper financial capability and stronger integration into the economy.

Strong Growth in Credit Access and Penetration

The report highlights that the number of credit-active women borrowers has grown at a compound annual growth rate of 9 per cent between 2017 and 2025, while credit penetration among women has increased from 19 per cent to 36 per cent.

Total credit outstanding to women rose from ₹16 lakh crore in 2017 to ₹76 lakh crore in 2025, reflecting sustained expansion in access to formal finance.

With nearly 45 crore credit-eligible women in India, the report points to significant untapped potential for further growth in women-led economic participation.

Rise in Business and Commercial Credit

A key trend identified in the report is the rapid growth in commercial credit among women borrowers. Credit to women-led businesses recorded a compound annual growth rate of 31 per cent between 2022 and 2025, compared to 17 per cent for overall commercial credit.

The report also notes a gradual transition of microfinance borrowers into retail and commercial credit segments, with 19 per cent of active microfinance borrowers now accessing such loans.

Programme Director at NITI Aayog and Mission Director of the Women Entrepreneurship Platform, Anna Roy said the diversification of credit usage reflects a meaningful shift from access-led inclusion to progression-led participation.

Expanding Geographic and Product Footprint

The report highlights that women’s credit access is expanding geographically, with states such as Bihar and Uttar Pradesh showing increased growth alongside traditionally stronger regions in the south and west.

Personal loans and gold loans remain the most widely accessed products, while housing loans are gaining traction, indicating rising asset ownership among women.

Digital Infrastructure Driving Inclusion

Rapid digitisation across identity systems, payments, underwriting and loan servicing has played a critical role in reducing entry barriers and enabling women’s transition from informal to formal financial systems.

The report emphasises that digital public infrastructure has been instrumental in improving access, transparency and efficiency in credit delivery.

Data-Driven Insights on Women Borrowers

The study is based on credit bureau data of around 16 crore women borrowers, supplemented by primary research involving rural nano-entrepreneurs. It also incorporates microfinance data, making it one of the most comprehensive assessments of women’s credit participation in India.

The report was developed under the Women Entrepreneurship Platform in collaboration with TransUnion CIBIL and MicroSave Consulting, as part of efforts to strengthen data availability and insights on women’s access to finance.

Read the full report here: From-Borrowers-To-Builders-Women-and-India-Evolving-Credit-Market