Women borrowers' tally grows at CAGR of 19% in 5 yrs; men at 14%: CIBIL
- IBEF
- March 8, 2022
In five years (calendar 2016-2021), the number of female borrowers increased at a compound annual growth rate (CAGR) of 19%, compared to a CAGR of 14% for male borrowers during the same period. According to CIBIL data, the percentage of women borrowers has climbed to 29% in 2021, up from 25% in 2016.
According to the Credit Information Bureau, women borrowers account for 23% of total outstanding retail credit amounts. Despite the aftermath of the Covid-19 outbreak, growth in women borrowers has remained significant. Through CY 2021, women borrowers grew at a faster pace of 11% than male borrowers, who grew at a slower rate of 6%.
The 90+ days-past-due (DPD) consumer-level delinquency rate for women borrowers across retail credit products is 5.2%, compared to 6.9% for their male counterparts. There are around 435 million adult females in India's projected population of 1,400 million, but only about 54 million are active borrowers. This statistic highlights the enormous potential of giving credit to women across India, empowering them while increasing financial inclusion, according to CIBIL.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
