Article taken from: finance.yahoo.com
TechCrunch India sets rules for commissions, surge pricing for Uber and Ola Read full article Manish Singh November 27, 2020, 5:23 PM · 3 min read App based cab in Kolkata, India, 29 November, 2019. India plans to cap the commissions app-based taxi aggregators such as Uber and home-grown Ola earn on rides to a maximum 10 percent of the total fare as per media report. Photo by Indranil Aditya/NurPhoto via Getty Images) Ride-hailing firms such as Ola and Uber can only draw a fee of up to 20% on ride fares in India, New Delhi said in guidelines on Friday, a new setback for the SoftBank-backed firms already struggling to improve their finances in the key overseas market. […] According to the guidelines, Ola and Uber — and any other app-operated, ride-hailing firm — can charge a maximum of 1.5 times of the base fare. […] The cap on the ride fare and implied insurance costs will raise operating costs in India for Uber and Ola, both of which have eliminated jobs in recent months amid the pandemic to trim costs.
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