New Delhi, Jan 6 (PTI) Sweeping reforms in rural financial services, geography-specific banking products and streamlined loan processes are needed to support women entrepreneurs, said senior Rural Development Ministry official Smriti Sharan on Monday.

These reforms are essential as the government plans to transform 3 crore rural women into "lakhpati didis" (women earning Rs 1 lakh annually) in the next 2-3 years, she said.

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"We are committed to making 3 crore lakhpati didis in the next 2-3 years. Therefore, it is important to diversify traditional agriculture into other activities which are entrepreneurial in nature," Sharan said in a panel discussion organised as part of Grameen Bharat Mahotsav 2025 held here.

Sharan said Self-Help Groups (SHGs) have demonstrated rural women's financial responsibility with a low non-performing asset rate of 1.64 per cent. However, women entrepreneurs continue facing challenges in accessing bank loans, skills training, and market linkages.

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The Pradhan Mantri Jan Dhan Yojana has opened 52.81 crore accounts, with women holding 56 per cent of accounts. This figure rises to 66.7 per cent in rural and semi-urban areas.

The official called for joint efforts to address these challenges while emphasising the need for customised financial products based on geography and business type.

"A simple plain vanilla financial product will not be useful to rural women," she said and also stressed simplifying loan application processes, development of care economy enterprises, advanced skilling beyond traditional sectors and better ground-level policy implementation.

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