Globally, the discussion on gender diversity on corporate boards has become a crucial
issue and is gaining momentum, with the inclusion of achieving gender equality as one of the
Sustainable Development Goals. Moreover, earlier research has also pointed out the positive
influence of gender diversity on the performance of firms. Hence, it becomes imperative to identify
the factors that influence the representation of women on corporate boards.In this backdrop, the
study aims to investigate the factors determining gender diversity on the boards of Indian banks.The
data pertaining to 12 public sector banks and 21 private sector banks were sourced from the
Reserve Bank of India, Prowess IQ, and Bloomberg databases, covering the period from 2008-09 to
2022-23. The three commonly used models of panel regression analysis, namely Pooled Ordinary
Least Square (POLS), Random Effects Model (REM) and Fixed Effects Model (FEM), were used to
examine the effects of independent variables, such as board size, firm size, firm age, return on
assets, Tobin Q, and leverage on board gender diversity. Further, based on the Breusch and Pagan
Lagrangian Multiplier test and Hausman test, REM was considered the appropriate model.The
results of the REM revealed significant positive effects of board size and firm size on board gender
diversity, while firm age, return on assets, Tobin Q, and leverage showed no significant
relationships.To promote gender diversity on the boards of Indian banks, policymakers could
consider integrating statutory mandates and offering financial incentives to banks that prioritize
and maintain gender diversity

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