This paper is exploring the role of entrepreneurship literacy education for employment opportunities including self-employment. The concept is explored through the lenses of education as means for economic prosperity, growth and development. The study is carried out by reviewing a range of literature and reviewing the experiences of commercial bank branch managers. These bank managers were inquired utilizing mailed questionnaires about the situation of youth seeking entrepreneurship assistance in their banks and their opinions were sought on how entrepreneurial activities help economic enhancement in the country. The study found that the current education system was neither effective enough for developing entrepreneurship qualities in students nor leading them to entrepreneurship opportunities. It was additionally found that several areas that are appropriate for entrepreneurship are non-incorporated in the current curriculum. The study stresses restructuring the school education by incorporating entrepreneurship competencies, rethinking each course through the perspective of entrepreneurship, adding courses like entrepreneurship guidance within the countries, and arranging extra-curricular activities related to entrepreneurship literacy in collaboration with various stakeholders.
Microfinance is a financial service aimed at economically underprivileged people who have no or limited access to formal financial institutions such as banks due to the lack of financial resources, collateral, or low income. Microfinance institutions provide a collateral-free loan to low-income individuals with the principle of financial inclusion, which allows them to invest in various self-employment activities. In this article, we critically review the development of microfinance and its issues and challenges in Nepal. More specifically, using the concept of the Grameen Bank model and its relevance in the context of Nepali microfinance institutions, we explore how microfinance can be an effective tool of financial intervention to alleviate rural poverty in Nepal. Methodologically, we utilize secondary data sources such as government and non-government reports and existing empirical studies. We offer recommendations for policymakers to establish appropriate modalities, programs, and microfinance services targeting the socio-economic transformation of rural communities in Nepal. We conclude that the government and financial institutions can stimulate microfinance institutions through multidimensional interventions and facilitation to advance the socio-economic status of financially underprivileged people in rural communities in Nepal.
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