India considers commissions cap for Uber, Ola, unsettling industry

  • 📰 Reuters
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

India plans to cap the commissions app-based taxi aggregators such as Uber and h...

NEW DELHI - India plans to cap the commissions app-based taxi aggregators such as Uber and home-grown Ola earn on rides to a maximum 10% of the total fare, according to a draft proposal seen by Reuters, a move industry experts warned would hit revenue and operations.

India’s federal government has proposed reducing the commission from the around 20% of the total fair charged at present, according to the 23-page document titled “central guidelines for aggregators”. The proposal could still change but industry experts say it could halve Uber and Softbank-backed Ola’s revenues from rides.“The 10% is not viable, it has to be something around 20%,” said Joy Bandekar, a former executive at Ola, adding the system could not survive at the lower rate.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Act first apologize later. Bear the consequences of flouting the local transportation law as a consequence. Whine.

Price caps is a good idea. Both ola and uber turn into digital dacoits during rainy season+peak hours

Spying through Uber is extremely important for military industrial complex

Nice hats👍

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber loses its license to operate in London, again - Business InsiderIn a potentially major blow to Uber's business, London's transportation regulator announced it will not renew the ride-hailing company's license to operate in the city:
Source: BusinessInsider - 🏆 729. / 51 Read more »

From Snapchat to Uber, these are the tech companies worth billions despite never turning a profitWall Street is becoming accepting of unprofitable startups, and investors are now willing to tolerate negative cash flows for long periods of time.
Source: BusinessInsider - 🏆 729. / 51 Read more »