Commercial Vehicle Finance

The transport department on Saturday issued notices to cab aggregators Ola and Uber for charging time-based fare in violation of rules. While the revised tariff structure for taxis, which came into effect in January, prohibits cab companies from charging on the basis of time, the aggregators havent implemented it and continue to impose an average of Rs 1 per minute.

Amit Jain, who leads the India business of the worlds largest ride-hailing service Uber Technologies, has been tasked with heading its entire Asia Pacific business, signaling the company's intention to focus on markets such as Australia and take on Indian rival Ola, which recently launched its service in that country.

Ola chief operating officer Vishal Kaul has put in his papers, a little over a year after joining the ride hailing company. The Bengaluru-based company has appointed senior vice president Pallav Singh to take additional charge in the interim. Confirming the development, an Ola spokesperson said, Ola would like to thank Vishal Kaul for his invaluable contributions to the company.