Most women still out of the banking net

Is “women’s (economic) empowerment” a catchphrase that is bandied about by our politicians and policymakers to curry favour with women? Reserve Bank of India data seems to suggest so.

Though women comprise 49 per cent of India’s population (as per Census 2011), their ownership of deposit and loan accounts is not commensurate with their population size.

Women accounted for only 28 per cent of the total number of individual deposit accounts and 26 per cent of the total (individual) deposit amount as on March-end 2012, as per RBI’s basic statistical returns of scheduled commercial banks in India. The returns data was released in July 2013.

As on March-end 2012, scheduled commercial banks in the country collectively had 77.32 crore individual deposit accounts with deposits aggregating ₹30.78-lakh crore.

When it comes to loans and advances, the picture is even worse. Women accounted for only 16 per cent of the total (individual) loan accounts and 18 per cent of the loan (individual) amount outstanding.

As on March-end 2012, scheduled commercial banks collectively had 1.88 crore individual loan accounts with loans aggregating ₹11.69-lakh crore.

The data on deposits and loans show that the policymakers need to come up with appropriate interventions so that “women’s empowerment” is for real.

Under-represented When it comes to employment in banks, women’s representation in the workforce is grossly inadequate vis-à-vis their population size. This is despite five women currently heading public and private banks in India.

Women accounted for only 18 per cent of the total 11.75 lakh employees in scheduled commercial banks.

Among the six regions, the southern region fares relatively better, with women accounting for 26 per cent of the workforce in banks.

This is followed by the western region (24 per cent of the bank workforce is women); northern (16 per cent); north-eastern (15.52 per cent); central (12 per cent); and eastern (9.58 per cent).

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