WOMEN AND MONEY MATTERS

We are part of a society that continues to view women as the weaker section. The age-old practices and norms always tended to give little importance to women down on the scale of progress.

- Dr Bindu K Nambiar

Gender inequality is so entrenched in families and society, maybe on a differentiated scale across the country, influenced by the factors like literacy and affluence. The chain of patriarchy, which prevails in different forms like the caste-based panchayats in certain parts of the country, pushes her down with minimal recognition in the society all along her life span. Even from a global perspective, women have often been regarded as subservient to their male counterparts. Across the world, the subordinate status of women has had a deleterious impact on society's overall growth.

Despite the intellectual, economic, and material progress that happened post the Second World War, a woman's role continues to be restricted to the household- rearing children and taking care of all the household chores, even when employed the family's finances. However, managing finances continues to be the sole preserve of men. However, with the enhancement in literacy standards and improved access to formal education, the situation is changing, even though at a slow pace.

The lack of access to finance and the discrimination towards providing enablers to the women in financial management has negatively affected societal growth. The vast unbanked 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 empowerment of women in fiscal matters.