Ola announces a micro-credit scheme; to pay household expenses of drivers impacted by lockdown
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Amidst the impact of coronavirus lockdown, Ola launches a new initiative 'Sahyog' to address the liquidity needs of over 1 lakh drivers on its platform by offering interest-free micro-credit. The eligible drivers will get access to a loan of Rs 3,600 distributed over 3 weeks which they can use for their planned household expenses. The firm will give up to Rs 1200 per week but didn't specify the eligibility criteria for drivers.