New Delhi, April 8 Women borrowers in India hold a credit portfolio of ₹76 lakh crore, which represents 26 per cent of the total system credit as of 2025, and marks a 4.8 times increase since 2017, according to a NITI Aayog report.
The Aayog, in the report titled 'From Borrowers to Builders: Women and India’s Evolving Credit Market', said that between December 2017 and December 2025, the number of credit-active women borrowers registered a compounded annual growth rate (CAGR) of 9 per cent, while credit penetration among them increased from 19 per cent to 36 per cent.
"The total credit outstanding to women grew from ₹16 lakh crore in 2017 to ₹76 lakh crore in 2025. With nearly 45 crore credit-eligible women in India, the potential for further expansion remains significant," the report said.
The report noted that the growth has been driven particularly by commercial credit, with loans to women business borrowers registering a CAGR of 31 per cent between 2022 and 2025, compared to 17 per cent for overall commercial credit.
It also highlighted a gradual transition of microfinance borrowers towards individual retail and commercial loans, with 19 per cent of active microfinance institution (MFI) borrowers now holding such loans.
The report further said that the geographical spread of women’s credit access is expanding, with northern states, such as Bihar and Uttar Pradesh, showing increased growth alongside southern and western states.
"Personal and gold loans continue to be the most widely accessed products, while housing loans are witnessing encouraging growth, indicating rising asset ownership among women," it said.
According to the report, rapid digitization across identity, payments, underwriting and loan servicing has the potential to reduce entry barriers and enable women’s transition from informal borrowing to formal, structured financial systems.
The report is based on longitudinal credit bureau data of approximately 16 crore (160 million) credit-active women, complemented by primary research with 161 rural women nano-entrepreneurs, providing both quantitative and behavioural insights. This year, the report also incorporates micro-finance data, making it a comprehensive assessment of women’s access and progression within the credit ecosystem.
Releasing the report, Niti Aayog CEO Nidhi Chhibber said, "Economic development advances when participation in markets becomes broader, deeper and more efficient. The convergence of DPI and formal credit systems has significantly transformed how economic participation is recorded and financed".