Rides on cab-hailing platforms Ola and Uber have come to a standstill with the nation going into a lockdown due to COVID-19.

Drivers working on these platforms have seen business being badly hit and many unions have now petitioned the government and financiers to waive off EMIs for car loans that many drivers are saddled with.

Both the companies also exempted lease rentals for drivers on their platforms.

"We can confirm that we are fully waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by Ola’s subsidiary, Ola Fleet Technologies under its leasing program. Driver-Partners who are currently in distress due to the temporary lockdowns to arrest the contagion of COVID-19, will stand to benefit with the reduced economic burden during these times," Ola said in a statement.

"Further our benefits on insurance for drivers and their spouses against loss of income due to contraction of COVID-19 as well as other medical support during this time, will continue to be offered to all our driver-partners across the country," the company added.

Under its leasing program, Ola offers drivers an option to take a long-term lease for a car by charging a deposit and a daily rental amount between Rs 700-1,150 depending on the city and car model leased. At the time of leasing, Ola Fleet Technologies charges Rs 4,000 as non-refundable charge and Rs 21,000-31,000 as refundable security deposit depending on the vehicle type.

Uber also said on Tuesday it will make an exception for drivers using leased vehicles under its leasing programme.

“To comply with the government's advisory to contain the spread of COVID-19, Uber has suspended its services across many cities, thereby causing hardship for drivers, who rely on our platform to make a living. To provide immediate relief for drivers, we are exempting, until further notice, lease rentals for those who drive vehicles leased under Uber’s Xchange Leasing India Private Limited (XLI) entity," an Uber spokesperson said in a statement.

First Published:Mar 24, 2020 11:05 PM IST