Business

Uber bid to set up fund to help driver-partners

Cab hailing service Uber on Thursday announced setting up of a new fund in partnership with two social enterprises — Give India and Samhita — to support its driver-partners. As the first step, Uber will be depositing ₹25 crore in the ‘Uber Care Driver Fund,’ following which small grant amounts will be transferred directly into the accounts of “thousands of driver-partners” every day to help them meet their immediate and essential family needs.

In addition, Uber aims to further raise funds through contributions from its employees, riders, CSR funds and citizens through a partnership with Milaap, a crowd-funding organisation, to take the total amount raised to ₹50 crore.

While Uber did not share the amount that will be transferred to each driver-partner, Pradeep Parameswaran, president, Uber India and South Asia, said their aim is to make sure the amount is sufficient to take care of the needs of a family of five for the next few weeks. Uber said it has started depositing grants into drivers’ accounts Thursday onwards.

Mr. Parameswaran said that with social distancing norms, their drivers have not been able to earn during the past few weeks. The drivers, he said, have also reached out to Uber seeking immediate cash support.

“Supporting driver communities has never been more important. We hope this first financial relief package for driver partners helps them and their families cover their immediate and urgent daily needs. In the coming days and weeks, we will first be fund-raising, and then providing driver-partners additional outright grants, from the Uber Care Driver Fund,” he said.

Over the next few days, Uber will also roll out a hospital cash insurance policy which will benefit driver-partners, and cover COVID-19 and other illnesses which require hospitalisation, for up to 14 days.

All donors, the company said, will be provided an 80G tax receipt to claim tax rebate according to applicable laws.

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Printable version | Jun 4, 2020 8:04:13 PM | https://www.thehindu.com/business/uber-bid-to-set-up-fund-to-help-driver-partners/article31302528.ece

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