Ever since the Covid-19 led lockdown struck in March, cab-hailing services have seen a drastic drop in revenues. While both Uber and Ola have brought in new schemes in order to stay relevant and profitable, India’s latest guidelines over surge-pricing is unlikely to make its investors happy. 

As per the new guidelines issued by the federal government, cab-hailing services in the country can only draw up to 20% on ride fares with a cap on surge pricing, the fare that Ola and Uber charge during peak demand hours. This is definitely a setback for the SoftBank-funded companies who are struggling across most locations. 





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