Financial literacy is a superpower, it is time women claimed it

This Independence Day, let’s talk about a different kind of freedom: financial independence for women.

New data suggests we’re on the move. Women now make up 26% of all mutual fund investors in India, with their assets under management more than doubling in five years to ₹11.25 lakh-crore. Anecdotal data, however, caveats this otherwise healthy growth by highlighting that there remains a tendency for male family members to invest in a woman's name if she falls into a lower tax bracket, etc.

However, this growth is only a glimpse of the untapped potential waiting to be unlocked through greater participation and confidence.

According to the Finsafe Women & Finances Survey (2025), over 60% of Indian women feel unsure whether they’ve saved enough for personal goals. More than 30% invest only in fixed deposits or insurance, steering clear of higher-return products like mutual funds, bonds or equities. These patterns echo a persistent gender gap in financial awareness and action, even as many platforms now push tailored learning for women.

Understanding financial products such as bank accounts, insurance, loans, and mutual funds is no less than a superpower. It brings security, confidence, and agency to make both simple and bold life choices. While women in India hold around 38% of bank accounts and contribute nearly 40% of total deposits, only a fraction actively invest. That’s a missed opportunity not just for women, but for the economy.

Finance is still rarely part of everyday conversations among women. Talking about SIPs, loans or insurance with friends or family is uncommon, a silence that contributes to financial exclusion and lost opportunity. When we share questions or experiences, we create space for others to ask, learn, and act. This, in part, is attributable to financial services companies advertising to and modelling their communication only around advertisements. For instance, when was the last time you saw a woman on television saying ‘mutual funds sahi hai’?

Fortunately, a growing ecosystem is working to close this gap. The National Strategy for Financial Education (2020-2025) includes specific goals for women’s financial empowerment. Initiatives like Digital Sakhi by the Reserve Bank of India (RBI) train rural women in digital finance and entrepreneurship. The Self-Help Group (SHG) Bank Linkage programme now reaches 1.4 million SHGs and nearly 20 million women, making it the world’s largest microfinance network. By pooling savings, managing loans, and learning credit discipline, these groups build real-world financial capability.

Meanwhile, efforts to expand market access are gaining momentum. In July, the NSE signed an MoU with WE HUB to help women-led MSMEs understand and access public markets.

Yet, despite rising AUM, many women continue to rely on male family members to make investment decisions. This dynamic affects women disproportionately. Men, in contrast, are rarely expected to seek spousal or familial approval before investing. The gender gap in decision-making authority must be addressed alongside access. Unfortunately, this aspect continues to be missed most industry leaders as well. For instance, we hardly see women exercising their agency in any investment or insurance advertisements.

And there’s a larger economic case too. Global financial services firms could add $700 billion in annual revenue by serving women customers as well as they serve men. The gap isn’t just social. It’s structural and commercial.

Some steps that need to be taken to build financial confidence are:

• Create informal money circles with women you trust. Discuss questions about loans, SIPs, insurance and investing. Focus on regulated products only. Learn by doing. Explore investment platforms to understand equity, bonds, and mutual funds.

• Attend local or virtual workshops run by the National Centre for Financial Education (NCFE), financial literacy centres, or women-centric programmes like Digital Sakhi.
  Set and track personal goals. Ask specific questions about product features and costs. Curiosity builds confidence.

• Encouraging more women to talk about money, to ask, to learn, to decide, is not just smart economics, it’s a cultural shift. When women own financial knowledge, they don’t just plan better futures for themselves, they create ripple effects across families and communities.

Finally, industry leaders must adequately represent women in their media and communications.

Neha Juneja is an entrepreneur and startup leader

Disclaimer: Disclaimer: The views expressed above are the author's own. They do not necessarily reflect the views of DH.