Mumbai: DBS Bank India has released the latest report from its ‘Women & Finance’ series, revealing that 69% of female entrepreneurs surveyed in urban India identify as primary decision-makers in financial matters. The study was conducted in partnership with Deloitte Touche Tohmatsu India LLP and launched ahead of International Women’s Day.
Titled “Money Matters: Mindsets, Financial Agency and Behaviour Across Life and Career Stages,” the report draws insights from 1,342 women across India, covering North (23%), South (36%), East (14%) and West (27%). The survey reflects the perspectives of female entrepreneurs, high-net-worth (HNW) women and rural women earners, exploring themes such as financial autonomy, banking preferences, life goals, career breaks and long-term financial preparedness.
The findings indicate that financial decision-making is increasingly being led by women themselves. Among the groups surveyed, 69% of female entrepreneurs identify as primary decision-makers in financial matters, compared with 60% among rural women earners and 58% among HNW women. The trend becomes stronger with age, particularly among entrepreneurs and HNW women, suggesting that confidence and financial control grow with experience.
Global connectivity also plays a significant role in the choice of banking partner among urban women. The study found that 89% of female entrepreneurs and 84% of HNW women say a bank’s global footprint is an important factor influencing their decision. This preference is reflected in behaviour as well, with 81% of female entrepreneurs and 80% of HNW women already banking with global institutions, highlighting the value placed on cross-border connectivity for business expansion, investment and institutional reliability.
Beyond access to capital, the research suggests that women entrepreneurs are increasingly seeking broader ecosystem support. Among those surveyed, 44% value peer advisory and networking opportunities, 40% seek sector-specific mentorship, 33% want stronger investor connections to access growth capital, and 22% look for guidance around government schemes, grants or pitch competitions.
Commenting on the findings, Divyesh Dalal, Managing Director and Country Head, Global Transaction Services, Corporate Banking, Financial Institutions and SMEs at 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.”
Key insights from the report include:
Confidence in managing finances:
About 76% of rural women earners surveyed report feeling confident or very confident about managing finances, compared with 67% among HNW women and 58% among female entrepreneurs. Among women who do not make financial decisions independently, reliance on trusted personal relationships remains strong. 55% of HNW women and 50% of female entrepreneurs turn to their spouse or partner for financial advice, a figure that rises to 73% among rural women earners.
Life goals:
Among HNW women (64%) and female entrepreneurs (73%), buying a new home or property emerges as a key priority, indicating a preference for tangible assets and home ownership. Meanwhile, 73% of rural women earners prioritise children’s education as their primary life goal.
How women engage with banks:
Digital channels such as apps and websites are the most preferred modes of engagement for 44% of female entrepreneurs and 29% of HNW women. However, 36% of HNW women prefer a hybrid approach combining digital and in-person banking. In contrast, 47% of rural women earners favour branch visits, reflecting stronger trust in face-to-face interactions.
Digital adoption:
Female entrepreneurs show the highest level of digital adoption, with 84% using UPI and 59% actively using digital financial tools such as banking apps. Among HNW women surveyed, 77% use UPI and 52% use digital tools. Despite 82% smartphone ownership among rural women earners, adoption of digital financial services remains limited due to barriers such as low familiarity with apps (44%), fear of online scams (37%), and inconsistent connectivity (31%).
Career breaks:
Among those surveyed, 46% of female entrepreneurs report taking career breaks for family or personal reasons, while 22% took voluntary breaks for travel or upskilling. Among HNW women, the figures stand at 36% and 15% respectively, indicating relatively more continuous career paths.
Retirement planning:
Among female entrepreneurs surveyed, 39% expect to retire after the age of 50, 20% believe they may never fully retire, and 26% remain unsure. Among HNW women, 41% plan to retire after 50, while 29% expect lifelong engagement with work. Rural women earners show similar patterns, with 42% expecting to retire after 50, 29% anticipating continued work indefinitely, and 19% uncertain about retirement. Notably, 37% of rural women earners report having no long-term financial plan for retirement, while others rely on bank or post office savings, pension schemes or informal instruments.
The report builds on the Women & Finance study first introduced by DBS Bank India in 2024, which examines evolving financial behaviours, priorities and aspirations among women across different life and career stages in India.
