Uber partners banks for car financing schemes for its drivers

US-based taxi aggregator Uber has partnered with banks and financial institutions in India to facilitate vehicle financing to its driver partners as it looks to strengthen its presence in the country.
"We have tied up with banks and various other top financial institutions in the country to make the process of vehicle financing to our driver partners extremely easy and convenient," Uber Policy Lead North Akshay BD told PTI.
The offer includes discounts and competitive interest rates on car financing, he added.
He, however, did not provide details about the finance partners.
Uber's domestic rival Ola already has similar partnerships with the likes of Shriram Automall India and Shriram Transport Finance Company (STFC) as well as manufacturers like Maruti, Hyundai, Mahindra and Toyota for facilitating car purchases for its driver partners.

Recently, the Bengaluru-based firm had also set up a new subsidiary and announced an investment plan of Rs 5,000 crore to expand the cab leasing business.

Uber has partnered with Ministry of Labour and Employment for the latter's National Career Service project.
To encourage micro-entrepreneurship through technology platforms, the Ministry has created a new 'Start Your Own Business' page on its website to market available opportunities.
This will offer a platform for people to sign up to drive with Uber as well vehicle financing services in case they do not have a car, Uber said.
"It's great to partner with the government on new work opportunities that go beyond traditional employment. We're committed to helping many thousands of people become micro-entrepreneurs so they can benefit from the new flexible, independent work that on demand platforms make possible," Uber Chief Advisor and Member Board of Directors David Plouffe said.