Are we mistaking women's financial participation for women's financial protection? India's progress on the first count is undeniable. Female labour force participation touched 35.1% in January and stood at 34.4% in March, while nearly 90% of Indian women now have a bank account.
Women are also playing a larger role in entrepreneurship, with close to half of recognised startups having at least 1 woman director or partner. Yet on the second count, the picture is far less encouraging. FY26 industry data shows women accounting for only around 1/3 rd of individual life insurance ownership across large insurers, while health insurers report women proposers at 28-30% of individual policies. The question today is no longer whether women are entering the financial mainstream. It is whether the financial system is protecting them with the same seriousness with which it is serving them.
