Bridging the Gap for Women's Economic Empowerment
UPSC Relevance
Prelims: Indian Economy (Financial Inclusion, Banking, Direct Benefit Transfer - DBT, JAM Trinity); Social Development (Women's Issues, Gender Equality); Governance (Government Schemes like PMJDY).
Mains:
General Studies Paper 1 (Society): Role of women and women's organization; Social empowerment.
General Studies Paper 2 (Social Justice & Governance): Welfare schemes for vulnerable sections of the population and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections (Women).
General Studies Paper 3 (Economy): Inclusive growth and issues arising from it.
Essay: A very likely topic on Women's Empowerment, Financial Inclusion, or Inclusive Growth.
Key Highlights from the News
JAM trinity (Jan Dhan, Aadhaar, Mobile) and DBT have led to 89% of women in India now having bank accounts. This is a significant achievement in financial access.
However, the article argues that this achievement has not fully translated into women's actual financial agency or empowerment.
Key challenges behind this "access vs. agency" gap:
20% of women's bank accounts are dormant accounts.
Most women use accounts only to withdraw money from government benefits. The use of savings, loans, and digital payments is low.
Compared to men, women have lower mobile phone ownership and digital payment usage (digital divide).
Two-thirds of women still rely on men for financial transactions.
Solutions for real empowerment:
Grant women property rights in land and other assets.
Make mobile phones and data available at lower costs.
Design financial products tailored to women's needs.
Increase the number of female banking agents.
Real empowerment happens when women are enabled to control and grow their money, rather than just receiving it in a bank account.
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