Interaction on Financial Literacy Held in Janakpur

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Interaction on Financial Literacy Held in Janakpur

January 16: An interaction programme related to financial literacy has been organized in Janakpur. The one-day programme was jointly organized by New Business Age Pvt Ltd and Janakpur Chamber of Commerce and Industry.

The programme focused on educating women entrepreneurs about financial literacy, self-employment opportunities, employment management, loan process and marketing their produce.

The participants complained about a lack of cooperation from government agencies. They also cited a complicated loan approval process in banks and a high rate of interest as hindering the growth of their businesses.

New Business Age has been organizing interaction and training programmes for women entrepreneurs in 10 different industrial cities in coordination with the Federation of Nepalese Chambers of Commerce and Industries (FNCCI). These programmes are aimed at making the upcoming Business Women Awards as effective as possible. The award is being organized by New Business Age in March.

Speaking at the programme, Deputy Mayor of Janakpurdham Sub-Metropolitan City Rita Kumari Mishra stated that the sub-metropolitan would encourage women entrepreneurship. She called on the women to form groups and involve themselves in businesses and assured them that the sub-metro would support their endeavors. She emphasized the need for women to be financially empowered and said that it was time to introduce ‘One house, one entrepreneur’ campaign. She also stated that occasional losses were natural in businesses and advised the women to not be discouraged by them.

Him Prasad Neupane, director of Nepal Rastra Bank, informed the participants about the process of applying for loans in banks. “An individual should come with a clear proposal while applying for loans,” he said adding, “Without a proposal, banks will find it difficult to approve loan applications.”  He also informed that the banks would issue loans at a five percent interest rate for women entrepreneurs and said that there was a huge potential for the growth of women entrepreneurship in the country.

The title sponsor of the programme is Standard Chartered Bank Limited and it was organized in association with Muktinath Development Bank. FNCCI along with chambers of 10 different districts and Federation of Woman Entrepreneurs' Association of Nepal (FEWAN) are associate partners for the event while Star Hospital is the medical partner. The programme is also supported by Sitaram Gokul Milks, Nimbus Group, Progressive Finance and Reliable Life Insurance.

The next interaction programmes will be held in Birgunj, Hetauda, Narayangadh, Pokhara, Surkhet and Dhangadhi. Previous programmes were held in Birtamod and Biratnagar.

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