7 in every 10 rural women earners in India say they can spot digital fraud: Survey

A majority of rural women earners in India report confidence in identifying digital fraud, according to a new survey that examined digital financial behaviour among women across income groups and regions.

The survey found that 72 per cent of rural women earners surveyed said they are confident in spotting digital fraud. The share stood at 54 per cent among female entrepreneurs and 53 per cent among high-net-worth (HNW) women.

Survey covers 1,342 women across India

The findings are part of the second edition of the Women and Finance series by DBS Bank, conducted in collaboration with Deloitte Touche Tohmatsu India LLP. The survey covered 1,342 women across rural, urban and HNW segments in North, South, East and West India, examining their engagement with digital payments, credit, banking and investment platforms.

Financial literacy boosts confidence in identifying digital fraud among women

The survey highlights that confidence in identifying digital fraud is higher among women who actively consume financial literacy content or engage with advisory services. Among female entrepreneurs, 61 per cent of those who follow safe digital banking content through newsletters, blogs and books reported confidence. Among HNW women, 59 per cent of those consulting financial advisors and 58 per cent attending financial workshops reported similar levels of confidence.

Female entrepreneurs lead in digital payments adoption at 84 per cent

When it comes to adoption of digital technology, it was found that there was high use of financial technology tools by female entrepreneurs. Usage of digital payment platforms was at 84 per cent. UPI usage stood at 72 per cent among female entrepreneurs, 77 per cent among HNW women, and 54 per cent among rural women earners.

Beyond payments, 38 per cent of female entrepreneurs reported using loan and credit platforms, while 29 per cent used brokerage platforms. Among HNW women, 28 per cent reported using brokerage platforms for investment activity.

Credit card usage rises among urban women earners

Credit card usage was also seen to be rising among urban women earners. Half of female entrepreneurs (50 per cent) said they use personal credit cards frequently, including 19 per cent who use them daily. Among HNW women, usage stood at 53 per cent, making credit cards the second most used payment method after UPI.

Travel-related benefits such as air miles, hotel offers, lounge access and travel insurance were the most preferred credit card rewards, cited by 65 per cent of respondents.

Spending patterns vary widely across women entrepreneurs, rural and HNW

The survey also outlines distinct spending patterns across cohorts. Female entrepreneurs mainly spend on staff salaries and contractor payments (65 per cent), marketing and customer acquisition (53 per cent), and technology tools and platforms (37 per cent).

Rural women earners’ spending is largely directed toward raw materials (82 per cent), rent (47 per cent) and transportation (35 per cent). HNW women show more diversified spending across groceries (50 per cent), utilities (32 per cent), healthcare (28 per cent) and travel (27 per cent).