STOCK MARKET BSE NSE

Ola waives off lease rentals for driver-partners

Lease rentals is akin to an EMI for driver partners who operate vehicles owned by company's subsidiary, Ola Fleet Technologies under its leasing programme.

Published: 24th March 2020 08:24 PM  |   Last Updated: 24th March 2020 08:24 PM   |  A+A-

ola7

Image for representational purpose only (EPS | Ashwin Prasath)

By IANS

NEW DELHI:  Ride-hailing major Ola on Tuesday announced that it is waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by company's subsidiary, Ola Fleet Technologies under its leasing programme.

"We can confirm that we are fully waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by Ola's subsidiary, Ola Fleet Technologies under its leasing programme," the company said in a statement.

FOLLOW LIVE UPDATES ON CORONAVIRUS HERE

"Driver-Partners who are currently in distress due to the temporary lockdowns to arrest the contagion of COVID-19, will stand to benefit with the reduced economic burden during these times," it added.

Under its leasing programme, Ola offers drivers an option to take a long-term lease for a car by charging a deposit and a daily rental amount between Rs 700-Rs 1,150 depending on the city and car model leased.

At the time of leasing, Ola Fleet Technologies charges Rs 4,000 as non-refundable charge and Rs 21,000-Rs 31,000 as refundable security deposit depending on the vehicle type.

"Further our benefits on insurance for drivers and their spouses against loss of income due to contraction of COVID-19 as well as other medical support during this time, will continue to be offered to all our driver-partners across the country," said the company.

Earlier, the company announced that all its eligible driver-partners and their spouses if diagnosed positive for COVID-19 shall be covered by a sum of Rs 30,000 under which they can receive a compensation of Rs 1,000 per day for a maximum of 21 days.

This amount will include hospital and home quarantine prescribed by a qualified medical practitioner, as approved by the Government norms from time to time.

Drivers can make a claim for this compensation for themselves and (or) their spouse by providing appropriate medical documents.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp