Softbank-backed Ola seeks relief for drivers and taxi firms in India

Indian ride-hailing company Ola, backed by Softbank Group , wants loan waivers for drivers and a delay in tax payments to make up for coronavirus-related lost income, according to a source and document seen by Reuters. India imposed a 21-day nationwide lockdown from Wednesday to limit the spread of the virus, which has infected more than 600 and claimed 10 lives in the country of more than 1.3 billion people. Ola has thousands of drivers in India, as does rival Uber Technologies , and wants short-term, interest-free loans for taxi aggregators to meet their working capital needs as well as a six-month delay to payment of certain taxes, according to a letter to India’s federal think-tank and industry lobby groups.