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Rural Women Lead Financial Confidence Over HNW Peers, Reveals DBS Report

A DBS Bank report reveals that rural women in India exhibit higher confidence in managing their finances compared to high-net-worth women and female entrepreneurs. While 76% of rural earners feel confident, only 67% of HNW women and 58% of entrepreneurs share that assurance. The study highlights that female entrepreneurs, though slightly less confident, are most likely to be the primary financial decision-makers in their households. The report also identifies distinct life goals and a significant digital adoption gap between urban entrepreneurs and rural women.

Key Points: Rural Women More Confident in Finance Than HNW Women: Report

  • 76% rural women confident
  • 67% HNW women confident
  • 69% female entrepreneurs are primary decision-makers
  • Digital divide in banking preferences
2 min read

76 pc rural women confident managing finances against 67 pc HNW peers: Report

DBS Bank report finds 76% of rural women confident managing finances, outpacing high-net-worth women (67%) and female entrepreneurs (58%).

"While access to credit remains important, entrepreneurs increasingly seek holistic support, mentors, networks and investor linkages, to scale their businesses. - Divyesh Dalal"

New Delhi, March 6

Women from rural regions in India are more confident in managing finances compared with high-net-worth women, according to a report released on Friday.

The report by DBS Bank found that financial decision-making among women in India is increasing, particularly among female entrepreneurs.

According to the report, 76 per cent of rural women earners feel confident managing finances, compared with 67 per cent of HNW women and 58 per cent of female entrepreneurs.

However, the report noted that women who do not make financial decisions independently often rely on spouses or partners for financial advice.

Among female entrepreneurs, 69 per cent act as primary financial decision-makers, compared with 60 per cent of rural women earners and 58 per cent of HNW women.

"Confidence in managing finances also tends to increase with age, particularly among entrepreneurs and HNW women," it said.

Beyond access to capital, female entrepreneurs value peer advisory (44 per cent), sector-specific mentorship (40 per cent), investor connections (33 per cent), and guidance on government schemes (22 per cent).

Divyesh Dalal, Managing Director and Country Head, Global Transaction Services, DBS Bank India, said, "While access to credit remains important, entrepreneurs increasingly seek holistic support, mentors, networks and investor linkages, to scale their businesses."

In terms of life goals, HNW women (64 per cent) and entrepreneurs (73 per cent) prioritise property ownership, while 73 per cent of rural women focus on children's education, the DBS Bank report said.

On bank engagement and digital adoption, entrepreneurs prefer digital channels (44 per cent) and UPI (84 per cent), while rural women favour in-person banking (47 per cent) and face barriers such as unfamiliarity with apps (44 per cent) and connectivity issues (31 per cent).

Regarding career breaks and retirement, 46 per cent of women entrepreneurs take career breaks for family or personal reasons. About 39 per cent plan to retire after the age of 50, while 20 per cent expect to never fully retire.

While HNW women and rural women show similar trends in retirement expectations, the report added.

- IANS

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Reader Comments

R
Rohit P
Interesting data, but I wonder if "confidence" is being measured the same way. A rural woman managing a small kirana shop's cash flow faces very different pressures than an HNW woman managing crores in investments. Both are valid, but the context matters.
S
Sarah B
The digital divide is stark. 47% of rural women preferring in-person banking and facing app unfamiliarity highlights a major gap. We need more financial literacy drives in regional languages and simpler apps to truly empower everyone.
A
Ananya R
My mother, who runs a small tailoring unit in our hometown, is a perfect example of this. She handles all money matters herself – from pricing to savings. This report feels very authentic to the ground reality. More power to our women entrepreneurs!
D
Divya L
The point about female entrepreneurs valuing mentorship and networks over just capital is crucial. Having a supportive ecosystem can make all the difference. Hope more industry bodies create such platforms specifically for women.
M
Michael C
A respectful critique: The article mentions women relying on spouses for advice, but doesn't explore why HNW women, with presumably more resources, show lower confidence. Is it complexity of assets, societal expectations, or something else? The report seems to highlight a symptom without diagnosing the cause fully.
K
Karthik V

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