69% of female entrepreneurs surveyed in urban India identify as primary decision-makers in financial matters: ‘Women and Finance’ study by DBS Bank India
Chandigarh, Mar 07: DBS Bank India has unveiled the latest report from its ‘Women & Finance’ series, with Deloitte Touche Tohmatsu India LLP (DTTI LLP) as the research partner.
Launched ahead of International Women’s Day 2026, the report, Money Matters: Mindsets, Financial Agency and Behaviour Across Life and Career Stages, draws on responses from 1,342 women surveyed across North (23%), South (36%), East (14%) and West (27%) India, reflecting the views of female entrepreneurs, High Net Worth (HNW) women and rural women earners.
The report builds upon DBS Bank India’s Women and Finance study, first introduced in 2024, which comprises four reports capturing unique insights from women across segments. It explores their autonomy in financial decision-making, key drivers and life goals, preferences for engaging with banks and digital financial apps, as well as their perspectives on career breaks, perceived work-life balance, retirement planning and long-term financial preparedness.
Data from the survey suggests that financial decision-making increasingly sits with women themselves. Among the female entrepreneurs surveyed, 69% identify as primary decision-makers in financial matters, compared to 60% among rural women earners and 58% among HNW women. The trend is more pronounced with age, particularly among HNW women and female entrepreneurs, indicating that confidence and control grow as experience accumulates.
Global connectivity emerges as a key factor for many urban Indian women when selecting a banking partner. The preference is strongest among female entrepreneurs, with 89% citing a bank’s international network as influencing their decision. This trend is mirrored among HNW women, 84% of whom view an institution’s global footprint as an important factor in their choice. This preference is already reflected in their behaviour, with 81% of female entrepreneurs and 80% of HNW women surveyed already banking with global institutions. These trends point to the fact that these cohorts value cross-border connectivity, whether for business expansion, investing or the reassurance of institutional scale.
The study also shows that capital, while foundational, is not the only requirement for growth among the female entrepreneurs surveyed. Within this group, 44% value peer advisory and networking, 40% seek sector-specific mentorship, 33% want to strengthen investor connections to access growth capital, and 22% look for support on government schemes, and eligible grants or pitch competitions.
Divyesh Dalal, Managing Director and Country Head, Global Transaction Services, Corporate Banking, Financial Institutions and SMEs, DBS Bank India, said, “Insights from the latest report in our Women and Finance study highlight the growing importance female entrepreneurs place on institutional credibility and global connectivity when choosing a banking partner. This reflects the value they place on trusted partners that can support cross-border ambitions, offer access to global markets and connect them to broader ecosystems.
The findings also highlight that while access to credit continues to be an important enabler of growth, many female entrepreneurs are increasingly looking for support that goes beyond traditional banking services. Access to mentors, peer networks and investor connections is emerging as an important part of the journey as businesses scale. The insights underscore the importance of engaging with entrepreneurs in a more holistic way, combining financial solutions with ecosystem support that helps businesses grow meaningfully.”
Confidence levels in managing finances
- 76% of rural women earners surveyed report feeling confident or very confident about managing finances, compared to 67% among HNW women and 58% among female entrepreneurs.
- Among women who do not make financial decisions independently, there is reliance on trusted personal relationships for financial advice. Of the HNW women surveyed, 55% turn to their spouse or partner for financial advice or guidance, compared to 50% of female entrepreneurs surveyed. This pattern rises to 73% among rural women earners.
Life goals
- Among HNW women (64%) and female entrepreneurs surveyed (73%), buying a new home or property is a key priority, highlighting a strong preference for tangible assets and an affinity for home ownership. 73% of the rural women earners surveyed prioritise children’s education first as their life goal.
How women engage with banks
- Digital platforms, including apps and websites, are the most preferred channels of engagement for female entrepreneurs (44%) and 29% of HNW women. HNW women tend to prefer a hybrid approach (36%), combining digital channels with in-person support.
- In contrast, rural women earners show a stronger preference for in-person banking, with 47% favouring branch visits. This is driven by trust in face-to-face interactions.
Digital adoption
- Female entrepreneurs show the highest levels of digital adoption. Among those surveyed in this group, 84% use UPI, and 59% actively use digital financial tools such as banking apps. HNW women surveyed report UPI adoption at 77%, and 52% say they use digital tools such as savings and banking apps.
- Despite high smartphone ownership (82%), adoption of digital financial services remains limited among the rural women earners surveyed. Key barriers include low familiarity with apps (44%), fear of online scams (37%), and inconsistent connectivity (31%).
Career breaks
- Among those surveyed, female entrepreneurs report a higher incidence of career breaks, with 46% taking breaks for family or personal reasons and 22% for voluntary reasons such as travel or upskilling.
- This compares with HNW women, where the figures stand at 36% and 15% respectively. These differences suggest that female entrepreneurs may use the flexibility of self-employment to pause, recalibrate or invest in personal development, while HNW women tend to experience more continuous career paths.
Retirement planning and financial preparedness
- Among the female entrepreneurs surveyed, 39% expect to retire after the age of 50 years, 20% believe they may never fully retire, and 26% remain unsure. A similar pattern appears among HNW women, with 41% planning to retire after 50, 29% expecting lifelong engagement with work, and 12% uncertain about their retirement age.
- Rural women earners show comparable trends, with 42% expecting to retire after 50, 29% believing they will continue working indefinitely, and 19% remaining unsure. Among this cohort, 37% report having no long-term financial plan for retirement, while others rely on bank or post office savings (27%), formal pension schemes (23%), or informal instruments (13%).