Reserve Bank Governor Shaktikanta Das emphasized the importance of gender diversity in the workforce and urged banks to provide more employment opportunities for women. He emphasized the need for inclusive growth, financial literacy, and flexible working conditions. RB Governor called for banks to create a more conducive environment for women, promoting their participation in key sectors like banking and finance.
The United Nations Development Programme (UNDP) and Wipro are implementing initiatives to support women's employment, including job fairs and 21st-century skills training, which have helped over 25,000 women in India since 2022, and programs like "Begin Again" to assist women in re-entering the workforce after a career break, offering structured learning and support.
Governor Shaktikanta Das addressed the Annual FIBAC 2024 Conference organized jointly by FICCI and IBA. He said that India's female labor force participation is below the global average highlighting the need for education, skill development, workplace safety, and societal barriers. Entrepreneurship is crucial, but less than one-fifth of MSMEs are owned by women. He mentioned, "The financial sector has a crucial role to play in bridging this gender gap by implementing supportive policies, creating tailored financial products, and leveraging fintech innovations to offer better access to finance."
Women entrepreneurs face challenges like limited capital access, societal norms, and affordable finance. To address these, providing higher employment opportunities and supporting women entrepreneurs through government-sponsored schemes and banks' tailored programs can help. MSMEs, particularly small ones, can drive employment and economic development.
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