ELIMINATE COLLATERAL CONDITIONALITY FOR WOMEN ENTREPRENEUR AND REPLACE HONORIFIC ‘SENIOR CITIZEN’ WITH ‘WISER CITIZEN’ FOR ELDERS: PHD CHAMBER

PHD Chamber of Commerce and Industry on Tuesday asked the government of the day to remove collateral conditionality for women entrepreneur from the Redbook so that banks and financial institutions aggressively come forward to part finance their Startup ventures since a vast majority of these are ill equipped to submit such a documentation in their maiden attempts to seek fiscal aid from them.

In addition, it has also sought a replacement for honorific such as ‘Senior Citizen’ with a ‘Wiser Citizen’ for elderly people, exceeding age of 60 as this expression does not invoke the required veneration that the lot of this age amply deserves and many a time has a negative connotation to reflect on their mellowed wisdom.

The aforesaid recommendations were made by the President, PHD Chamber, Mr. Gopal Jiwarajka at a Women Startup Summit-2017 that was held here today under its ages in which the presiding officer was Chairperson of National Commission for Protection of Child Rights, Ms. Stuti Kacker among a few women startups as also Chairperson, Women & Child Development Committee, PHDFWF, Ms. Anuradha Goel.

The Chamber felt that producing collateral related documents to banks and financial institutions by most of women entrepreneurs is a tedious task due to cumbersome procedures relating to inheritance disadvantages and obstructions that follow thereafter and therefore, this age old rule needs to be given a handsome burial at an age in which startups and particularly women entrepreneurs have begun to outshine their male business counterparts.

Likewise, expression such as ‘Senior Citizen’ for elderly people should also be replaced with the suggested honorific ‘Wiser Citizen’ to broad-base its connotation and outreach in emerging and evolving times as a great deal of them are reigning in with great sense of responsibility and accountability both at policy making worldwide as well in terms of generating wealth with a nurturing sense, said Mr. Jiwarajka.

Among other who also spoke on the occasion comprised Proprietor, P‘n’A Industries, Ms. Anju Bajaj; Fashion Designer, Ms. Rina Dhaka; Partner, Little Farms Co., Ms. Niharika Bhargava; Co-Founder, SquadRun Inc, Ms. Kanika Jain; Invest India, Startup India Hub, Ms. Jasleen Kaur Lamba and Secretary General, PHD Chamber, Mr. Saurabh Sanyal.