MAM
Aspire, Acquire, Achieve: A Woman’s Guide to Obtaining Personal Loans for Professional and Personal Development
Women have made enormous strides in understanding their money, investing, and accomplishing their long-term and short-term objectives. Many women nowadays are becoming more autonomous in their financial decisions, no longer relying only on male family members for advice or control.
Modern financial institutions, who have made significant efforts to enable women to accomplish their ambitions, have played a major role in igniting this. In addition, a recent CRIF Highmark analysis indicates that women are borrowing significantly more in the personal loan market, with the number of active loans rising by as much as 52%. Having said that, it’s evident that more and more women are using different kinds of personal loans to assist them reach their objectives.
Even while women are assuming more and more responsibility for their financial lives, having access to credit is still essential to fulfilling both personal and professional goals. Despite great progress toward gender equality, women continue to encounter obstacles when trying to obtain credit, which impedes their ability to advance both personally and professionally.
Challenges faced by women while accessing credit
According to a recent survey, Indian women are 10% more likely than males to make their EMI payments on time, demonstrating their responsible attitude to managing their debt and making sound financial decisions. Women are not able to obtain personal loans, even when they manage their funds quite responsibly and cautiously.
A major contributing factor in this is ignorance. There are several ways to get loans with quick disbursement alternatives accessible nowadays. Still, a lot of individuals don’t know about it, and some would rather borrow money from a formal organization, where the application process is more involved. While there has been progress in this area, much more needs to be done to inform female consumers about the advantages of choosing digital loans and to increase awareness. Modern women need short-term ticket loans in order to achieve their objectives, which are typically not easily fulfilled through official financial institutions. Examples of these goals include travel and upskilling in order to advance in their careers.
How women can access personal loans and use it for their personal and professional growth
Research online lenders and compare interest rates:
Women can begin by looking for instant cash loan apps on the internet with clear terms and genuine user reviews. Furthermore, ladies may search for internet lending sites that provide immediate personal loans with only a few clicks. This lowers the need for formal documentation and processes. Use the comparison tools provided by different platforms to examine interest rates, loan amounts, payback periods, and related charges. Select a loan that suits your financial requirements and aspirations. When applying for a loan, keep in mind that applying to many lenders may have a negative influence on your credit score.
Utilise Funds Wisely:
Allocate loan funds carefully to meet your personal and professional development goals. Borrowing what you need is a prudent financial strategy. It keeps you from incurring unneeded debt and allows you to devote resources to your ambitions. By being attentive of your borrowing and prioritizing your requirements, you may better align your financial decisions with your personal and professional growth objectives. This technique promotes financial discipline and allows you to make the most use of your existing resources.
Budget for Repayment:
Creating a repayment plan that falls within the budgetary limits is critical. To assure debt repayment on time, one must make it a practice to set away a percentage of their monthly income. Automated payments can help you remain on track and avoid late penalties.
Monitor Credit Score:
Regularly checking your credit score helps you to keep track of your financial performance and spot potential difficulties. Responsible personal loan management may have a long-term positive influence on creditworthiness, opening the door to future financial prospects.
Conclusion
According to a recent survey, credit demand among new-to-credit (NTC) women consumers has increased significantly, more than tripling over the previous five years from 18% in 2019 to 40% by 2023. This overwhelming data demonstrates the critical role that access to personal loans plays in allowing women to achieve their career and personal goals. Financial institutions must adjust their goods and services to meet the specific demands of this group. Financial institutions may empower women by providing tailored answers to their individual concerns.
By eliminating structural hurdles, implementing gender-sensitive policies, and providing tailored financial solutions, we can create a more inclusive and equitable lending ecosystem that enables women to aspire, acquire, and realize their goals. As we celebrate women’s achievements, it is critical that we address the problems they encounter in accessing credit and apply for personal loans appropriately. By doing so, women may increase their financial liberty and pave the road for a better future.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
