Ola starts new initiative for drivers

Taxi aggregator Ola has launched a new initiative to help their drivers fund their children’s school education. In a statement, the company said it has partnered with Neev Finance to provide education loans of up to ₹1 lakh at “affordable interest rates”. The loan, however, is only applicable for schoolchildren and would not be extended for those pursuing higher studies. “The first batch of the education loan scheme will cover driver-partners from Bangalore, Kolkata, Delhi, Mumbai, Chennai, Hyderabad, Pune and Nagpur. Ola and Neev Finance are aiming to support education of over 50,000 children of driver-partners over the next year.”