Women Investors Quadruple As India Sees Rise In Demat Accounts: Study

India is undergoing a powerful shift in its financial landscape, and women stand at the forefront of this transformation. As per the latest report from the Ministry of Statistics and Programme Implementation (MoSPI), the number of demat accounts held by women has more than quadrupled over the last three years, rising from 6.7 million in 2021 to an impressive 27.2 million by the end of 2024.

This increase in number aligns with a broader capital market boom in India. The total number of demat accounts jumped from 33.3 million to 143 million during the same period, which reflects that there was an increase in investor participation. The BSE Sensex has risen to 61 per cent since March 2021, adding momentum to this trend, particularly among women.  

Along with this, MoSPI’s 26th edition of Women and Men in India 2024: Selected Indicators and Data revealed that women now own about 39.2 per cent of all bank accounts in the country, with the share rising to 42.2 per cent in rural areas.

Technology, Confidence, and Financial Literacy 

Founder and CEO of Easiloan, Pramod Kathuriya credits this rapid rise in female investors to the influence of various factors: “The huge increase can be credited to reasons such as the closing of the gender gap in financial knowledge and the rising confidence of women as intelligent investors. Fintech options have been central to this development, offering platforms that enable women to own their financial destinies.”

He also emphasises the role of supportive government policies and shifting societal norms toward gender-inclusive financial decision-making.

Ajay Lakhotia, Founder and CEO of StockGro, shared similar ideas, highlighting how technology and simplified financial education are helping women overcome traditional investing fears. “StockGro’s recently published Investor Behaviour Index found that lack of market understanding (40 per cent) and fear of losing money (28 per cent) were major barriers. But community-driven learning and simplified KYC processes are helping women overcome these challenges and invest confidently.”

He also added that women making investments are now seeking expert guidance and exploring different investment options beyond the traditional ones.

What Fueled This Growth?

Not just the personal financial decisions, but also institutional support and digital access are helping India achieve financial inclusion. Poonam Chauhan, Associate Professor of Marketing and International Business at KJ Somaiya Institute of Management, pointed to multiple layers of change: “Favourable policies like mandating female representation on company boards, increased visibility of women leaders in financial institutions, and relatable financial content across platforms have helped normalise financial independence.”

She also noted that fintech platforms, along with several other mobile banking apps, have lowered the entry barriers, encouraging women to diversify their investments.

The MoSPI report also states that the number of women-led startups rose from 24 per cent in 2021-22 to 26.2 per cent in 2023-24, primarily in the manufacturing and service sectors. Women-led startups registered with the DPIIT increased dramatically—from 1,943 in 2017 to over 17,400 in 2024.

While it is true that male investors still hold the majority of accounts, with about 115.3 million demat accounts in 2024, the narrowing gender gap signals the increasing financial confidence among women.