SEHER, a credit education program launched on July 8 by the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL, aims to empower women entrepreneurs in India with financial literacy and business skills. This initiative provides women with access to essential financial tools, fostering growth and employment in the country’s economy.
The Women Entrepreneurship Platform (WEP), a public-private partnership incubated at Niti Aayog, seeks to create a supportive ecosystem for women entrepreneurs in India. SEHER is part of WEP’s Financing Women Collaborative (FWC), a pioneering initiative designed to enhance access to finance for women entrepreneurs. The program was launched by Ms. Anna Roy, Mission Director of WEP and Principal Economic Adviser at NITI Aayog, alongside notable figures such as Mr. Jitendra Asati, Director (Financial Inclusion) at the Department of Financial Services (DFS), Ministry of Finance; Mr. Sunil Mehta, Chief Executive of the Indian Banks’ Association (IBA); Mr. Neeraj Nigam, Executive Director at the Reserve Bank of India (RBI); Ms. Mercy Epao, Joint Secretary at the Ministry of MSME; and Mr. Rajesh Kumar, MD and CEO at TransUnion CIBIL.
According to the Udyam Registration Portal (URP) of the Ministry of Micro, Small, and Medium Enterprises (MSMEs), India has 63 million MSMEs, with 20.5% being women-owned, employing 27 million people. The Ministry also noted that rural areas have a slightly higher percentage of women-owned enterprises (22.24%) compared to urban areas (18.42%). Estimates suggest that by accelerating women’s entrepreneurship, India could establish over 30 million new women-owned enterprises, potentially creating 150 to 170 million jobs. Women-owned businesses contribute 18.73% to the employment generated by URP-registered units.
TransUnion CIBIL data reveals that the demand for business loans by women has increased 3.9 times over the last five years (FY 2019 – FY 2024). During this period, there was a 10% growth in the number of women borrowers holding business loans. As of March 2024, 38% of the 1.5 crore borrowers with live business loans were women. The portfolio balance for business loans by women borrowers grew at a 35% compound annual growth rate (CAGR) from March 2019 to March 2024. For other products such as agri-business loans, commercial vehicle loans, and commercial equipment loans, the share of women borrowers remained constant at 28% over the same period, according to TransUnion CIBIL consumer bureau data.
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