[ad_1]
People usually take loans for needs ranging from meeting emergent needs to furthering the business. For this people turn to bank or NBFC. However, there is a fine gap in taking the loan and repaying the loan installments properly. If we talk about repaying loan installments honestly, then women are more honest than men in this matter. At least that’s what the TransUnion Cibil Data suggests.
fast loan women
Credit data firm TransUnion has released an interesting report on debt repayment a few days before International Women’s Day. Let us tell you that every year March 08 is celebrated as International Women’s Day. According to the TransUnion report that came just before this, women are more conscientious than men in repaying loan installments taken from banks and NBAFCs. This is probably the reason why the cases of loans given to women have increased at a rapid pace during the last five years.
better growth rate than men
According to TransUnion CIBIL, the number of women borrowers in India has grown at an annual rate of 15 per cent over the past five years, compared to 11 per cent for men. According to statistics, the share of women borrowers was 25 percent in the year 2017, which has increased to 28 percent in the year 2022.
There are still plenty of possibilities
Currently, about 454 million adult women are included in India’s total estimated population of 1.4 billion. According to the statistics till the year 2022, about 6.3 crore of these women have taken loans. Credit access for women was 7 percent in the year 2017, which has increased to 14 percent in the year 2022. These figures show that women are increasingly becoming a part of financial inclusion in the country and it also shows that there is a lot of potential in terms of lending to women.
News Reels
women friendly loan requirement
Harshala Chandorkar, Chief Operating Officer, TransUnion CIBIL, says on these figures, the increase in the number of women borrowers as active participants in India’s credit market augurs well for the financial inclusion of the government. This bodes well for traditionally underserved sectors such as women. Offering loans tailored to women across socio-economic categories, age-groups and geographies will help them fulfill their aspirations.
[ad_2]
Source link