Women’s Share in Bank Accounts and Demat Accounts Growth in India
The share of women in total bank accounts in India stands at 39.2%. Women’s contribution to the total bank deposits in the country is 39.7%, as per the data provided by the government on March 6. Additionally, women account for 42.2% of the bank accounts in rural areas. In recent years, there has been a significant growth in the number of demat accounts, reflecting increased participation in the stock market. From March 31, 2021, to November 30, 2024, the total number of demat accounts has increased from 3.32 crore to 14.30 crore, marking an over four-fold growth.
While the number of male account holders has consistently been higher than female account holders, there has been a growing trend of female participation. The number of female demat accounts has increased from 66 lakh to 2.7 crore during this period.
Growth in Female Demat Accounts
According to the Ministry of Statistics and Programme Implementation (MoSPI), the number of male demat accounts has grown from 2.65 crore in 2021 to 11.53 crore in 2024, while female demat accounts have risen from 66 lakh to 2.7 crore during the same period. Data also shows an increase in the percentage of women-owned establishments in manufacturing, trade, and other service sectors during 2021-2024.
Increase in Women Entrepreneurs in Startups
In recent years, the number of startups recognized by DPIIT (Department for Promotion of Industry and Internal Trade) with at least one woman director has increased, indicating a positive trend in women entrepreneurship. The total number of such startups has grown from 1,943 in 2017 to 17,405 in 2024.
Growth in Voter Registration and Labor Force Participation
The number of total voters in India has increased from 17.32 crore in 1952 to 97.8 crore in 2024. Along with this, there has been a strong increase in women voter registration. The Gender Parity Index (GPI) at primary and higher secondary levels has remained consistent, reflecting strong female enrollment. While there have been fluctuations at higher primary and early stages, the gender equality levels have remained near parity.
According to data, the Labor Force Participation Rate (LFPR) for those aged 15 years and above has increased from 49.8% (2017-18) to 60.1% (2023-24), indicating better participation of women in the labor force.