Financial Literacy Program Lumbini Province

Location: Banke and Bardiya, Lumbini province

Duration: 4 days

Targeted Groups: Students

Description

Financial literacy enables individuals to plan for the future and build a secure financial foundation. Whether saving for education, homeownership, retirement, or emergencies, financial literacy equips individuals with the tools and strategies to set and achieve their long-term financial goals. By fostering a culture of saving and financial planning, financial literacy contributes to greater financial stability and resilience. Nepal has a significant portion of its population who are unbanked or underbanked, lacking access to basic financial services. Financial literacy initiatives can promote financial inclusion by raising awareness about the benefits of banking, encouraging savings behavior, and facilitating access to financial products tailored to the needs of underserved populations. This can help empower marginalized communities and promote inclusive economic growth. Moreover, Financial literacy is not just a personal skill; It is a catalyst for individual empowerment, economic development, and social progress in Nepal. By investing in financial education initiatives and promoting widespread financial literacy, Nepal can unlock the potential of its people and build a more prosperous and equitable society.

Objectives

The program aims to improve the students' financial literacy, particularly in areas such as investment, credit, and insurance.
The program aims to equip students with the knowledge to manage financial risks and plan for their future effectively.
The program aims to enhance their understanding of personal finance and saving habits.
The program aims to effectively impart financial knowledge and enhance the capability of students to make informed financial decisions.
The program aims to develop responsible financial behaviors, empowering them to achieve their financial goals and contribute to their financial stability and resilience.

Programs

The program session was conducted by Mr. Murali Prasad Lamsal Certified Financial Literacy Trainer (Nepal Rastra Bank Listed) held for 4 days at different schools.
Day 1: Janakalyan Secondary School, Shree Adarsh Secondary School, Gaynodaya Model Secondary School
Day 2: Bidhya Jyoti Secondary School, Jay Kalika Secondary School, Shree Gauri Shankar Secondary School
Day 3: Madarsa Darul Uloom Barkatiya
Day 4: Dhambojhi Higher Secondary School, Mangal Prasad Secondary School

Impacts

Improved Financial Knowledge: Financial literacy programs significantly enhance students' understanding of critical financial concepts.
Better Financial Decision-Making: With increased financial knowledge, students are better positioned to make informed financial decisions.
Increased Financial Confidence: As students acquire financial knowledge and skills, they often experience a boost in their financial confidence.

Program Summary

As part of an ongoing mission to enhance financial literacy among the younger generation through the social initiatives of various banking institutions, Bifcap Nepal has conducted financial literacy programs at nine different schools in Banke and Bardiya districts within the Lumbini Province. The sessions were facilitated by Mr. Murali Prasad Lamsal, a certified financial literacy trainer recognized by Nepal Rastra Bank Limited. A total of 588 students participated in these sessions, held for four days. The program's impact is significant, guiding young students toward future financial stability enhancing their capacity for making informed financial decisions, and building financial discipline in students by teaching them about the unique techniques of saving habits. The session topics included budgeting, saving, investment, credit management, and insurance.