- Yes Securities reports 36% YoY growth in overall account base for FY24 so far. Accounts opened by women investors grew at a higher pace of 75% YoY for the same period, clearly outpacing the overall growth rate
- Tier 2 cities and younger demographics (25-40 years old) exhibit a strong and growing interest in investing in equity markets
- To celebrate International Women’s Day 2024, Yes Securities is conducting a financial literacy session for Adivasi women at Seva Charitable Trust on March 7, at Sanjay Gandhi National Park, Mumbai.
Yes Securities, a leading financial services company, today announced a record high of women investors,with growth in women investor accounts exhibiting a steady rise. Yes Securities recorded a 75% YoY growth in accounts opened by women investors in FY24 so far (period compared is 1st April 2023 till 31st January 2024 versus same period last year of FY23), and the contribution of women investors in total accounts increased to about 23%.This trend highlights a growing confidence, rise in financial awareness and proactiveness among women in managing their finances.
The overall investor base of Yes Securities has also grown at a positive momentum of 36% YoY during the first 10 months of FY24 so far (From 1st April 2023 till 31st January 2024). The momentum of women investors is on an upswing and interestingly, Yes Securities has seen more women investors opening their account post pandemic since FY21, and this trend is on a steady rise and has continued in FY24 as well.
Within the age spectrum, the highest number of women investors falls between 25 to 40 years old, indicating strong inclination towards investment among millennials. While the overallshare of accounts opened by women investors represents 23% of the total, the data reveals an even more encouraging trend: women are not just opening accounts, they are actively participating in the capital markets. Interestingly, revenue generation data shows that women in their middle to later stages of professional and personal life (41-56 and 57-75 age groups) contribute the most, highlighting their financial acumen and investment prowess.
“We’re witnessing a remarkable rise in women investors across the country, particularly in states like Maharashtra and Andhra Pradesh,” said Mr. Anshul Arzare, Managing Director& CEO of Yes Securities India Limited. “This surge is accompanied by a growing participation from tier 2 cities and younger demographics, specifically those between 25 and 40 years old. It’s a clear indicator that women are rewriting the narrative around financial participation.Indian Equity markets have been largely buoyant post the pandemic and there has also been a rise in financial awareness, coupled with ease of investment due to digitization and improved risk appetite. India continues to be the fastest growing major economy, and while this will open various investment opportunities in the long run, there is also an equal need to invest in increasing financial awareness and literacy amongst women to achieve the vision of ‘Viksit Bharat 2047’.”
Mr. Arzare added, “As part of our commitment to contribute to society and to the financial well-being of Indian women, Yes Securities is conducting a financial literacy session for Adivasi women at Seva Charitable Trust on March 7, at Sanjay Gandhi National Park, Mumbai. This initiative is a step towards empowering underprivileged women with the knowledge and skills to manage their finances and create a better future.”
Yes Securities goes beyond financial awareness efforts, demonstrating its commitment to financial inclusion. In anticipation of Women’s Day, the company is supporting Adivasi women trained under Seva Charitable Trust with a two-day exhibition at its Mumbai offices, featuring and selling their exquisite handicrafts.