One Out of Four Financially Excluded Women Across the World Is an Indian: Study
Thursday, October 6, 2016
The number of financially excluded women in India fell by 20% between 2014 and 2015, helped by the implementation of the Pradhan Mantri Jan Dhan Yojana (PMJDY), according to Omidyar Network.
Research by Omidyar, a philanthropic investor that puts money in both for-profit and not-for profit organizations, showed the number of unbanked women declining to 280 million in 2015 from 363 million in 2013.
The PMJDY, launched in August 2014, is aimed at ensuring that every household has at least one bank account. According to the PMJDY website, 247.4 million accounts have been opened under the programme so far.
Financial inclusion among Indian women is driven primarily by access to bank accounts. According to a research report by Omidyar, there was a reduction of 6 percentage points in the gender gap in ownership of savings accounts from 17% to 11% between 2013 and 2015.