Saturday, Feb 22 2020 | Time 19:00 Hrs(IST)
image
  • Bengal Governor condoles death of academician-turned-politician Krishna Bose
  • Make agriculture more attractive and sustainable: Venkaiah Naidu
  • Ranji Trophy, QF: Gujarat dominate, Saurashtra in command against Andhra
  • Ranji Trophy, QF: Gujarat dominate, Saurashtra in command against Andhra
  • Internet, social media have democratised journalism, but brought many anxieties: Prez
  • Nirbhaya case: Convict Vinay Sharma's plea nixed
  • Capable of contesting Aurangabad municipal polls alone: Congress
  • Gaping digital divide in Commonwealth: Study
  • Delray Beach Open: Sharan-Sitak lose to Bryan brothers in quarterfinal
  • PM Modi not accompanying President Trump to Agra, Defence, security, energy tie ups likely
  • Privacy rights cannot be for protection of terrorists, corrupt: Prasad
  • Cong accuses Modi Govt of waiving off Rs 8 lakh crore of big capitals, demands to reveal names
  • PM to distribute mobility aids to Divyangs in Prayagraj on Feb 29
  • Top-seed Halep eases past Brady to reach Dubai final
Business Economy


Chola ties up with Ola for daily repayment car loan scheme

Chennai, June 30 (UNI) Cholamandalam Investment and Finance Company Limited
(CHOLA), the financial services arm of the Murugappa Group, today announced its
association with Ola, India’s leading mobile app for personal transportation to offer
car loans to drivers on Ola’s platform, with an option of daily repayment scheme as
against the current practice of an EMI.
A Murugrappa group release here said Ola launched the “Pragati” programme for
its drivers in February 2015. The programme has already identified that daily EMIs
were better suited for driver entrepreneurs, who earn their revenue on a daily basis.
They will have higher comfort in paying off the loan daily like any other expense
rather than paying it monthly.
Ola on its part had set up a fund of Rs.100 crore to enable drivers to buy their own
cars and to transform into driver entrepreneurs.
Over 15,000 drivers, across the country, have already benefitted from this program
by gaining access to benefit from the ecosystem.
Through this programme and Ola’s tie up with Chola, Ola Pragati enables drivers
to take loan at competitive rates and repay a part of their loan on a daily basis.
Chola has customized its services to cater better to this target group. It provides
an array of benefits ranging from quick loan approval and easier documentation.
With this tie up, Ola will share daily revenue and payment details of drivers on
real time basis. This initiative enables Chola to encourage entrepreneurship
amongst drivers and help them to enter a better life.
Speaking about the association, Mr. Vellayan Subbiah, Managing Director,
Cholamandalam Investment and Finance Company Ltd said ''at Chola, we believe
in developing new frontiers for our customers to enter a better life. With this tie-up,
we look forward to support those drivers who aspire to own their vehicle and
payback through their daily earnings''.
This initiative will ensure better financial discipline amongst drivers. The usage
of Ola’s technology platform will smoothen the repayment process, he added.

UNI GV GM ADB 1158
More News
AEPC celebrates 42nd Foundation Day

AEPC celebrates 42nd Foundation Day

22 Feb 2020 | 5:21 PM

New Delhi, Feb 22 (UNI) Apparel Export Promotion Council (AEPC) celebrated its 42nd Foundation Day on Saturday under the leadership of its Chairman Padma Shri A Sakthivel who recently took over the responsibility for the fourth time in the Council’s four decade journey.

see more..
Azure Hospitality to open over 100 'dhabas' in next five years in India

Azure Hospitality to open over 100 'dhabas' in next five years in India

22 Feb 2020 | 4:26 PM

Chandigarh, Feb 22 (UNI) The 'Dhaba' chain, which grew out of the Delhi's famed The Claridges Hotel, known as Highway Cuisine and managed by Azure Hospitality has announced over 100 such outlets in the country with an investment of over Rs 200 crore in next five years.

see more..

Ahmedabad Bullion market shows divergent trend

22 Feb 2020 | 4:23 PM

Ahmedabad, Feb 22 (UNI) The Ahmedabad Bullion market showed a
divergent trend here on Saturday.

see more..

Ahmedabad grain market shows firm trend

22 Feb 2020 | 4:22 PM

Ahmedabad, Feb 22 (UNI) The Ahmedabad grain market showed a firm trend here
on Saturday.

see more..

Ahmedabad gur market

22 Feb 2020 | 4:22 PM

Ahmedabad, Feb 22 (UNI) The Ahmedabad Gur market showed a firm trend here on Saturday.

see more..
image