New Delhi, Nov. 21 -- Indian banks could tap into a USD 688 billion untapped financial opportunity by adopting gender-intelligent design practices, according to a new report by MicroSave Consulting (MSC) and the National Institute of Bank Management (NIBM).

The publication comes at a critical juncture for India's economy, as the continued underrepresentation of women across the financial ecosystem is estimated to cost the country USD 688 billion, impacting its ambition to become a USD 5 trillion economy.

While India has made strides in expanding access to financial services, active usage among women remains low, leaving one of the country's largest untapped market segments.

"Over the years, multiple actors have tried to mainstream gend...