logo
Government allows cab aggregators to hike peak-hour surge prices

Government allows cab aggregators to hike peak-hour surge prices

Time of Indiaa day ago
NEW DELHI: The government on Tuesday gave more headroom to vehicle aggregators such as Uber, Ola, inDrive and Rapido on surge pricing. In a set of guidelines on ride-hailing services, the road transport ministry allowed aggregators to charge up to twice the base fare, as against 1.5 times earlier, while leaving the non-peak hour charges at not less than 50% of the base fare.
States have been advised to adopt the revised guidelines within three months. The idea is to ensure that consumers are not burdened during periods of surge in traffic, while ensuring that aggregators do not undercut competition by offering steep discounts.
On cancellation of a booking by a driver after accepting a journey on the app, a penalty of 10% of the fare, with a cap of Rs 100, will be imposed when the ride is cancelled without a specified reason.
Such a penalty will be split between the driver and the aggregator. Similarly, when a passenger cancels a booking on the app, a similar fee will be collected.
Aggregators have been mandated to ensure that drivers have health and term insurance of at least Rs 5 lakh and Rs 10 lakh, respectively.
The new guidelines specify that state govts will notify the base fare for different categories of vehicles, including auto-rickshaws and bike taxis, which have been brought under the ambit of the policy.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Trending in in 2025: Local network access control [Click Here]
Esseps
Learn More
Undo
For example, while the base fare for taxi in Delhi and Mumbai are in the range of Rs 20-21 a km, in Pune it is Rs 18. In cases where the states have not fixed the base fare, aggregators have been asked to notify the base fare to the state govt.
The guidelines specify no passenger will be charged for dead mileage, except when the distance for availing the ride is less than 3 km, and the fare will be charged only from the point of origin of the journey to the destination.
For safety of passengers, the Centre has specified that the aggregator must ensure vehicle location and tracking devices (VLTDs) are installed in vehicles and the feed is received by it as well as linked to integrated command and control centre of the state govt.
The aggregators will also conduct an annual refresher training. The guidelines also specified that drivers whose rating falls below five percentile from amongst all drivers in terms of duration of engagement with the aggregator, will compulsorily undergo refresher training every quarter. If such drivers fail to do so, they won't be allowed to continue through the aggregator.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Rural banks struggle to recover short-term crop loans as farmers wait for Mahayuti to fulfil waiver poll pledge
Rural banks struggle to recover short-term crop loans as farmers wait for Mahayuti to fulfil waiver poll pledge

Time of India

time36 minutes ago

  • Time of India

Rural banks struggle to recover short-term crop loans as farmers wait for Mahayuti to fulfil waiver poll pledge

Kolhapur: Mahayuti's farm loan waiver promise before the assembly poll has hit rural banks hard, with farmers holding off on loan repayments in anticipation of debt waiver. As of May 31, a staggering 55.46% of short-term crop loan dues remained unpaid across Maharashtra's 31 DCC banks. In the 2024 kharif season, banks in Maharashtra disbursed Rs 40,628 crore in crop loans, primarily those short-term with an 11-month repayment tenure, benefiting 39 lakh farmers. However, preliminary figures accessed from individual District Central Cooperative (DCC) banks and the cooperation department ahead of the June 30 repayment deadline for short-term loans revealed a dismal recovery picture as of May 30, with no notable improvement. Satara DCC bank leads in loan recovery, yet faces a 2% drop in repayment of short-term crop loans, having disbursed Rs 1,800 crore in recoverable loans. Bank's CEO Rajendra Sarkale said, "Last year, around 98% of loans were repaid. By June 30 this year, we have recovered around 96%. The dues are mainly from the drought-prone areas like Man and Khatav tehsils." In March, deputy CM and finance minister Ajit Pawar had appealed to the farmers to repay crop loans highlighting the financial strain. Following this, the banks conducted meetings with primary agriculture societies, informing farmers that failing to repay loans by June 30 would result in losing interest subvention benefits, making their loans interest-free no longer, and instead charging 10.50% interest. Subsequent statements by CM Devendra Fadnavis and deputy CM Eknath Shinde, however, made the farmers to hold off on repayments. CM Fadnavis said, "We won't go back on any promise. Farm loan waiver implementation has rules and procedures. The decision will be made at the right time." Adopting the same stance, Shinde said, "We're committed to farm loan waiver, but need time to study it. We'll appoint a committee to examine the demand. " In the case of Kolhapur DCC bank, chairman Hasan Mushrif, who is also a state cabinet minister, said the bank was expecting the recovery of 97-98% of total Rs 2,587 crore recoverable loan. It, however, ended short of Rs 255 crore. "Loan-waiver rumour led farmers to withhold payments, limiting our recovery to 90%. Govt is seriously considering loan waiver, as announced by CM Fadnavis. However, we in the cooperative sector believe timely loan repayments should qualify farmers for waivers. We'll work towards this, as defaulting shouldn't be seen as the only way to benefit from waivers, which could harm banks and credit societies," Mushrif said. Sangli DCC saw a 5% drop in short-term crop loan recovery, with 75% of loans recovered till June 30, up from 68% at May-end. Due to a Rs 490-crore shortfall, bank's chairman Mansingrao Naik extended the repayment deadline to July 5. Farmers missing this deadline will receive a recovery notice under Section 101 of the Maharashtra Co-operative Societies Act, 1960. Nashik DCC bank disbursed Rs 411.30 crore in crop loans, of which Rs 207 crore is due. With an outstanding of 77% on short-term crop loans, Nashik DCC bank ranks among the top banks with poor recovery rate. "We have restructured the loans with lower interest rates to encourage the farmers to pay the dues. For instance, the dues of Rs 1 lakh will incur just 2% interest, and for Rs 1-5 lakh, it will incur just 5% interest," Nashik DCC bank administrator Santosh Bidwai said. Vijay Autade, a cooperative sector expert, said, "The poll promise made farmers hopeful. Besides, the farmers believe that if they pay the loans, they will not be eligible for a waiver. Govt brought a scheme to incentivise the farmers paying loans regularly. However, three years down the line, many farmers have not received the amount. The primary agriculture credit societies bear the brunt at the end, as they are left with less cash flow to disburse new loans. "

​Stock Radar: SBI stock breaks out from Symmetrical Triangle pattern; what should investors do with this Sensex stock?
​Stock Radar: SBI stock breaks out from Symmetrical Triangle pattern; what should investors do with this Sensex stock?

Economic Times

time37 minutes ago

  • Economic Times

​Stock Radar: SBI stock breaks out from Symmetrical Triangle pattern; what should investors do with this Sensex stock?

State Bank of India (SBI), part of the PSU banking space, bounced back after testing 200-DMA earlier in June 2025 which helped the stock to break out from a Symmetrical Triangle pattern on the daily traders can look to buy the stock for a target of Rs 870-875 in the next 1-2 months, suggest PSU stock, which is also part of the BSE Sensex index, hit a high of Rs 898 on July 19, 2024, but failed to hold the momentum.

Use data to woo millennials to life insurance: Irdai
Use data to woo millennials to life insurance: Irdai

Time of India

timean hour ago

  • Time of India

Use data to woo millennials to life insurance: Irdai

MUMBAI: Irdai whole time member (life) Swaminathan Iyer said that insurance companies need to leverage data to convince the working population to make life insurance an important aspect of their financial planning. "There is increasing awareness of life insurance among all sections of society, more specifically the millennials. However, emotions do not work much, and you have to drive logic through data," Iyer said at a Life Insurance Council event. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store