DBS Bank India's 'Women and Finance' study: The Digital Opportunity

84% of female entrepreneurs surveyed in India use digital payment tools

Beyond payments, 38% of female entrepreneurs surveyed use loan and credit platforms and 29% use brokerage platforms

The report, The Digital Opportunity: Access, Adoption and Trust, explores how female earners across India are engaging with digital payments, banking, credit and investment platforms. The study draws insights from 1,342 women across North (23%), South (36%), East (14%) and West (27%) India, reflecting the perspectives of female entrepreneurs, High-Net-Worth (HNW) women and rural women earners.

The latest edition focuses on how digitalisation is shaping the financial journeys of women across different life stages, income segments and geographies. It also explores spending priorities, key drivers of digital adoption and awareness of safe digital banking practices across different segments.

The findings highlight that female entrepreneurs are the most active users of digital financial tools and platforms among all cohorts surveyed. Digital payment tools are the most widely adopted, used by 84% of female entrepreneurs. Across cohorts, UPI continues to gain traction, with usage standing at 72% among female entrepreneurs, 77% among HNW women and 54% among rural women earners surveyed, underscoring the growing ubiquity of India's digital payments infrastructure.

Beyond banking and payments, female entrepreneurs are increasingly engaging with a wider ecosystem of digital financial tools and platforms. Among those surveyed, 38% use loan and credit platforms, while 29% use brokerage platforms. Among HNW women surveyed, 28% are actively using brokerage platforms for their investments, reflecting growing comfort and proficiency in using digital investment tools, driven by the convenience and accessibility they offer.

Divyesh Dalal, Managing Director and Country Head, Global Transaction Services, Corporate Banking, Financial Institutions and SMEs said, “The findings of this report highlight an encouraging shift in the way women are engaging with their finances. Among female entrepreneurs, digital tools are becoming increasingly integral to business management, supporting everything from payments, credit and payroll to customer acquisition and future planning. The study also underscores the importance of trust, convenience, and accessibility in driving digital adoption.”

“As digital adoption deepens, entrepreneurs are increasingly seeking solutions that enhance operational efficiency and support their growth ambitions. Sustaining this momentum requires going beyond traditional banking to create connected ecosystems that help entrepreneurs at every stage of their business journey. By deepening our understanding of this segment and continuing to innovate in response to evolving needs, we aim to help female entrepreneurs build and scale their businesses”, he added.

Other key insights

Credit card usage is gaining momentum among female earners in urban India

Half (50%) of the female entrepreneurs surveyed report using personal credit cards frequently, including 19% who use them daily and 31% who use them a few times a week. Among HNW women, credit cards are used by 53% of respondents, making them the second most-used payment method after UPI.

Travel rewards top the list of preferred credit card benefits

Travel-related rewards, including hotel offers, air miles, lounge access and travel insurance, are the most preferred credit card benefit among both female entrepreneurs and HNW women, cited by 65% of respondents. Preference for travel-related rewards is particularly pronounced among younger respondents, rising to 70% among HNW women aged 25–30 years and 68% among female entrepreneurs aged 26–35 years.

Spending patterns across segments

Spending patterns were analysed to identify key business expenditure areas among female entrepreneurs and rural women earners, alongside personal spending among HNW women.

• Among female entrepreneurs surveyed, spending is concentrated on people, growth and technology. Beyond staff salaries and contractor payments (65%) and marketing, branding, content creation and customer acquisition (53%), 37% report spending on software, technology tools and platforms.
• For rural women earners, expenditure is largely directed towards day-to-day business operations, with 82% reporting spending on raw materials, 47% on rent and 35% on transportation to market.
• Among the HNW women surveyed, spending patterns are more diversified across both essential and discretionary categories, led by groceries and daily essentials (50%), utility bills (32%), healthcare and medical expenses (28%), and travel and vacations (27%).

This edition builds on the first report in the series, Money Matters: Mindsets, Financial Agency and Behaviour Across Life and Career Stages, released on International Women's Day earlier this year, which examined the financial autonomy of women earners, key financial drivers and life goals, preferences for engaging with financial institutions, as well as their perspectives on career breaks, work-life balance, retirement planning and long-term financial preparedness.

About DBS

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. In 2025, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’. 

Recognized for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 17 consecutive years from 2009 to 2025. DBS Bank India was recognized by CRISIL - Coalition Greenwich as the Best Bank for Corporate Banking and Best Bank for Corporate Cash Management in India in 2025. In the same year, Euromoney also named DBS Bank India the Best Digital Bank for SMEs in India.  

As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. 

DBS Bank has been present in India for more than 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India is now present in ~350 locations in 19 Indian states. 

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience. 

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com. 

Media contacts: