Ride-hailing major Ola on Tuesday said it is waiving lease rentals for driver-partners who operate vehicles owned by the 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 (equated-monthly instalment), for driver partners who operate vehicles owned by Ola's subsidiary, Ola Fleet Technologies, under its leasing programme," Ola said in a statement.
The statement added that these driver-partners and their spouses will also be covered against loss of income due to contraction of COVID-19 (up Rs 30,000) as well as other medical support during this time.
Under its leasing programme, Ola offers a long-term lease for a car against a deposit and a daily rental amount depending on the city and the car model.
With lockdown across most parts of the country already, driver-partners were concerned about loss of livelihood and payments that they would have to make in the form of leasing fee.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)