Women's Financial Inclusion in India: A Review of Equity Investment and Literacy Initiatives
Abstract: Women remain less involved as compared to men in India?s equity markets even though their education levels have improved and retail investing has expanded rapidly. This review analyses Indian and international studies published between Jan 2013 and Dec 2024 to understand how financial literacy education affects women?s participation in mutual funds and direct equity. Studies from academic research, national surveys and reports points to three main trends. Financial literacy has a stronger impact on women?s investment participation than on men?s, showing the importance of targeted education. However, women?s involvement in direct equity is limited by low confidence, higher fear of risk and decision-making constraints within households, which leads many to prefer mutual funds. Digital skills further strengthen the link between financial knowledge and market participation. Overall, the review suggests that increasing women?s equity participation requires moving beyond basic financial inclusion towards confidence-building and digitally enabled financial education that supports long-term and inclusive capital-market growth.
Keywords: Financial literacy, women investors, equity markets, mutual funds, India
How to Cite?: Shreya S. Kelkar, Dr. Shiva M. Padme, "Women's Financial Inclusion in India: A Review of Equity Investment and Literacy Initiatives", Volume 15 Issue 2, February 2026, International Journal of Science and Research (IJSR), Pages: 1243-1247, https://www.ijsr.net/getabstract.php?paperid=SR26208172057, DOI: https://dx.doi.org/10.21275/SR26208172057