Ola fights cash crunch joining hands with banks
Posted on: 30/Nov/2016 5:49:47 PM
Today, Ola, the car aggregator has announced that it has joined hands with banks and oil and gas companies for fighting the driver-partner cash crunch after demonetization of high value rupee notes.
Ola has joined hands with BPCL for facilitating the process to get e-vouchers at BPCL petrol pumps, according to a statement. A number of driver partners are already using this feature and they make use of these e-fuels for filling petrol or diesel without the need for cash.
This activity started during this weekend and this is set to continue until December end. It will further get expanded to other cities as well. In addition to making these e-vouchers available for driver partners, Ola cabs has also joined hands with Axis banks for setting up ATMs at their office so as to support their driver partners for easy withdrawal. Furthermore, Ola has also joined hands with ICICI for facilitating cash conversion for driver partners in the past few weeks until such exchanges will be allowed.
Kiosks are set up at Ola offices by the bank representatives. This will aid the drive partners for exchanging demonetized currencies.
