Economic empowerment through technology: Understanding women’s digital banking behavior
Puspa Rani and Neha Verma
Rising financial participation of Indian women reflects a decade of rapid account ownership growth, with initiatives like Pradhan Mantri Jan Dhan Yojana bringing nearly 300 million into the formal banking system. Despite holding 39% of accounts and deposits, women remain less active in digital payments, credit and savings, revealing a persistent digital gender gap. Limited smartphone ownership, weaker internet access, low financial literacy and socio-cultural restrictions especially disadvantage rural women, where fewer than one in three use the internet. Yet targeted programs, simplified fintech design and women-led digital literacy initiatives have shown significant potential. Closing these divides in digital banking is crucial for advancing gender equality, strengthening inclusive growth and unlocking women’s economic empowerment in India.
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