Women hold only 17% of bank board seats in India
A new study shows women make up only 17% of board members in the 27 private and small finance banks studied—way behind the range in leading markets (34-44%) and even India's top companies (21%).
Researchers looked at 27 private and small finance banks and found that, despite rules requiring at least one woman on most bank boards, very few women actually have executive power.
Some banks do better, but overall progress is slow
Ujjivan Small Finance Bank stands out with women holding 44% of its board seats. Others like IDFC First Bank, Bandhan Bank, and RBL Bank are also ahead of the pack.
A separate survey found that women in leadership roles across banking, financial services, and insurance made up 14.5% of appointments, and a different survey found even fewer held top jobs at NBFCs or microfinance firms.
Study highlights need for gender-diverse boards
More diverse boards aren't just about numbers—they bring fresh perspectives to decision-making.
The study points out that female directors are especially strong in key committees like audit and risk.
But there's still a long way to go before real gender balance is achieved in Indian banking leadership.