Women borrowers' tally grows at CAGR of 19% in 5 yrs; men at 14%: CIBIL

Credit penetration for women (percentage of borrowers to total adult population) has improved to 12% in 2021 from 6% in 2016.

The number of women borrowers has increased at a compound annual growth rate (CAGR) of 19 per cent in five years (calendar 2016-2021), compared to a CAGR growth of 14 per cent for male borrowers during the same period. The share of women borrowers has increased to 29 per cent in 2021 – up from 25 per cent in 2016, according to CIBIL data.

Credit penetration for women (percentage of borrowers to total adult population) has improved to 12 per cent in 2021 from 6 per cent in 2016.

The Credit Information Bureau said in terms of total outstanding retail credit balances, the share of women borrowers was 23 per cent. Growth in women borrowers has remained strong despite the aftermath of the Covid-19 pandemic. Women showed a stronger rate of growth at 11 per cent compared to the 6 per cent growth rate of male borrowers through CY 2021.

Further insights from mapping the emergence of women in India’s retail credit market showed they maintained a better asset quality profile than men and they tend to be more disciplined borrowers. The 90+ days-past-due (DPD) consumer-level delinquency rate for women borrowers’ stands at 5.2 per cent across retail credit products compared to male counterparts showing a rate of 6.9 per cent.

India’s estimated population of 1,400 million comprises approximately 435 million adult females of which only about 54 million females are active borrowers. This data brings to the fore the huge potential of providing access to credit for women across India and empowering them while driving financial inclusion, CIBIL added.