Similarly, women availed only 18 per cent of the total small credit from banks in 2011. Therefore, initiatives to empower women should, necessarily, include strategies to link them to the formal financial system by providing them access to deposit and credit accounts. 11.
However, considering the centrality of banks to the nation’s economic order, their role in women empowerment cannot be restricted merely to linking them to the formal financial system. The banking and finance sector in India has emerged as a significant employer of women, though related data suggests that there is still tremendous scope for improving their presence in this sector.