69% of female entrepreneurs in urban India primary financial decision-makers: DBS Bank India study

A majority of female entrepreneurs in urban India are taking the lead in managing their finances, with 69% identifying themselves as primary decision-makers in financial matters, according to a new report released by DBS Bank India ahead of International Women’s Day. 

The findings are part of the latest report in the bank’s ‘Women & Finance’ series titled Money Matters: Mindsets, Financial Agency and Behaviour Across Life and Career Stages, conducted in partnership with Deloitte Touche Tohmatsu India LLP. The study surveyed 1,342 women across India, including female entrepreneurs, high-net-worth (HNW) women and rural women earners. 

The survey covered respondents from across regions — North (23%), South (36%), West (27%), and East (14%) — and explored financial autonomy, banking preferences, career breaks, retirement planning, and long-term financial preparedness among women at different life stages. 

A growing trend of women taking charge of their financial decisions 

The report highlights a growing trend of women taking charge of their financial decisions. Among the female entrepreneurs surveyed, 69% said they are the primary decision-makers in financial matters, compared with 60% among rural women earners and 58% among HNW women. 

The study also notes that financial confidence and decision-making authority tend to grow with age and professional experience, particularly among HNW women and entrepreneurs. 

How important is global reach in banking decisions for urban Indian women? 

For many urban Indian women, a bank’s global network and international connectivity play a significant role when choosing a financial partner. 

Among female entrepreneurs, 89% said a bank’s international presence influences their choice while 84% of HNW women also view global reach as an important factor. Reflecting this preference, 81% of female entrepreneurs and 80% of HNW women surveyed already bank with global institutions, indicating strong demand for cross-border financial capabilities. 

Divyesh Dalal, Managing Director and Country Head, Global Transaction Services, Corporate Banking, Financial Institutions and SMEs at DBS Bank India, said the findings highlight the importance female entrepreneurs place on institutional credibility and access to global markets. 

“The insights show that entrepreneurs increasingly value trusted partners that can support cross-border ambitions, connect them to global ecosystems and help them scale their businesses,” Dalal said. 

The study also found that access to capital alone is not sufficient for business growth. Many female entrepreneurs are seeking broader ecosystem support. 

Among those surveyed, 44% value peer advisory and networking opportunities, 40% seek sector-specific mentorship, 33% want stronger investor connections, and 22% look for guidance on government schemes, grants and pitch competitions. 

Dalal noted that this reflects a shift in expectations from financial institutions, with entrepreneurs increasingly seeking support that combines financial solutions with mentorship, networking and ecosystem access. 

What is the rate of digital adoption among women 

The report shows strong digital adoption among urban women. UPI usage stands at 84% among female entrepreneurs and 77% among HNW women, while 59% of entrepreneurs and 52% of HNW women actively use digital financial tools such as banking apps. 

However, adoption remains lower among rural women earners despite 82% smartphone ownership. Key barriers include low familiarity with financial apps (44%), fear of online scams (37%), and inconsistent internet connectivity (31%). 

Life goals and retirement outlook 

Home ownership remains a key aspiration. Among respondents, 73% of female entrepreneurs and 64% of HNW women prioritise buying a home or property, while 73% of rural women earners place children’s education as their top life goal. 

On retirement planning, 39% of female entrepreneurs expect to retire after the age of 50, while 20% believe they may never fully retire. A similar pattern is seen among HNW women, where 41% plan to retire after 50 and 29% expect lifelong engagement with work. 

Among rural women earners, 37% reported having no long-term financial plan for retirement, highlighting the need for greater financial planning awareness and access to retirement products.