Your wife does not have any strong ties in India:
She is not employed + no property ownership + no finances of her own + no dependents + no previous travel history.
And, the biggest reason for her refusal:
You are a PR. IRCC knows fully well that you and your wife want to avoid waiting it out in India while her PR application is being processed.
The only thing is that my spouse had 20K in her bank account. (is that less funds..? or we need to have more funds for CIC)
Your wife does not have any strong ties in India:
She is not employed + no property ownership + no finances of her own + no dependents + no previous travel history.
And, the biggest reason for her refusal:
You are a PR. IRCC knows fully well that you and your wife want to avoid waiting it out in India while her PR application is being processed.
None of this money was earned by your wife.
You can reapply anytime.
IMO, you will lose another CAD 100 if you reapply. But, if you believe that she might be approved then go ahead and reapply
You can reapply even tomorrow. There's no time restriction for reapplying.
That said, it's best to wait for sometime instead of reapplying on the rebound. This 'extra' time might also help your wife to build some ties. For example, if she is able to get a job.
Those are too many reasons, it is obvious to immigration that your wife is not a true "visitor".
Unlikely that you will be successful in reapplication, you might at least consider getting the caips notes for further clarity first. Don't do anything stupid like start lying on your reapplication and get her banned completely.