LIC Women Agents Grow to 7.45 Lakh, Advancing Gender Inclusion

By: WE Staff | Tuesday, 10 December 2024

The increasing participation of women in the Life Insurance Corporation of India (LIC), with the number of women agents increasing from 6 lakh in 2018 to 7.45 lakh in 2023 has highlighted by The Finance Ministry. For every 100 LIC agents, 28 are women, reflecting the growing inclusion of women in the financial services sector.

According to the Ministry, further to the effort 25,000 women will be designated as Bima Sakhis, primarily in rural areas. A monthly stipend will be provided to these women starting at ₹7,000 in the first year, followed by ₹6,000 in the second year, and ₹5,000 in the third year, in addition to earning commissions for their work.

The increasing enrolment of women in Sainik Schools, with 33 such institutions now admitting female students in the education sector has been identified by government. The Ministry also highlighted growing interest among women in enrolling for combat roles in the armed forces, marking a significant shift towards gender equality in the military Financial inclusion and support for women entrepreneurs.

The succeeded government’s financial inclusion programs has been highlighted by the Finance Ministry that provided women with better access to banking and credit. under the Jan Dhan Yojana, 55% of accounts are held by women while 70% of beneficiaries under the Mudra scheme are women.

To support women entrepreneurs 75% of the loans are provided to the female borrowers under the Stand Up India scheme. Additionally, 45% of the beneficiaries under the PM Swanidhi Scheme, aimed at supporting street vendors, are women.