Page 48 - BANKING FINANCE OCTOBER 2021

ARTICLE

WOMEN AND

MONEY

MATTERS

W e are part of a society that continues to Despite the intellectual, economic, and material progress

view women as the weaker section. The
that happened post the Second World War, a woman's role
age-old practices and norms always tended
continues to be restricted to the household- rearing children
to give little importance to women down
on the scale of progress. Gender inequality is so entrenched and taking care of all the household chores, even when
employed the family's finances. However, managing finances
in families and society, maybe on a differentiated scale across continues to be the sole preserve of men. However, with
the country, influenced by the factors like literacy and the enhancement in literacy standards and improved access
affluence. The chain of patriarchy, which prevails in different to formal education, the situation is changing, even though
forms like the caste-based panchayats in certain parts of the
at a slow pace.
country, pushes her down with minimal recognition in the
society all along her life span. Even from a global perspective,
The lack of access to finance and the discrimination towards
women have often been regarded as subservient to their
providing enablers to the women in financial management
male counterparts. Across the world, the subordinate status
has negatively affected societal growth. The vast unbanked
of women has had a deleterious impact on society's overall
growth. women population accentuated this. There, if we look at
every country's demographic profile, it can be observed the
most potent factor influencing financial stability is the
About the author empowerment of women in fiscal matters.
Dr Bindu K Nambiar
A vast large majority of women are unaware or ignorant of
Faculty - Marketing
State Bank Institute of Consumer Banking the benefits of financial stability. They are oblivious to the
(Erstwhile State Bank Staff College) role played by the banks in reaching out to the last mile of
Hyderabad the society, especially women, and the wide-ranging

48 | 2021 | OCTOBER | BANKING FINANCE