The Reserve Bank of India (RBI) has called for significant steps to increase job opportunities for women in the country. RBI Governor Shaktikanta Das has directed banks to provide more employment to women and design special schemes for women entrepreneurs, which would increase their participation in the workforce and reduce gender inequality in the economic sector.
Emphasis on Increasing Women’s Economic Participation:-
Speaking at a joint conference organized by the Indian Banks’ Association and FICCI, Shaktikanta Das said that India should create better employment opportunities for women. Currently, the participation of women in the workforce in India is below the global average. The main reasons for this include societal barriers, lack of workplace safety, and gaps in education and skill development among women. By addressing these issues, the number of women in the workforce can be increased.
Role of the Financial Sector:-
The RBI Governor also stated that the financial sector must play a crucial role in reducing gender inequality. Financial institutions should develop special products and schemes for women. Additionally, leveraging financial technology innovation can ease access to financial services, helping women become more economically empowered. He also mentioned that providing easier access to financial services for women would significantly benefit women entrepreneurs.
Role of ‘Bank Sakhis’:-
Das suggested that banks should increase the number of “Bank Sakhis.” Bank Sakhis work to ensure easy access to financial services in rural areas. Increasing their numbers would benefit rural women, enabling them to take advantage of financial services.
Challenges Facing Women Entrepreneurs:-
The RBI Governor noted that despite women’s participation in Micro, Small, and Medium Enterprises (MSMEs), women entrepreneurs still face numerous challenges. These challenges include lack of capital, limited market access, and insufficient awareness of government schemes. Das urged banks to create special plans and products for women entrepreneurs to help them become more economically empowered.
Thus, this RBI initiative could play a key role in improving the economic status of women and strengthening their role in the prosperity of the nation.
