New Delhi, March 24 (IANS): Ride-hailing major Ola on Tuesday announced that it is waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by companys subsidiary, Ola Fleet Technologies under its leasing programme.

"We can confirm that we are fully waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by Ola's subsidiary, Ola Fleet Technologies under its leasing programme," the company said in a statement.

"Driver-Partners who are currently in distress due to the temporary lockdowns to arrest the contagion of COVID-19, will stand to benefit with the reduced economic burden during these times," it added.

Under its leasing programme, Ola offers drivers an option to take a long-term lease for a car by charging a deposit and a daily rental amount between Rs 700-Rs 1,150 depending on the city and car model leased.

At the time of leasing, Ola Fleet Technologies charges Rs 4,000 as non-refundable charge and Rs 21,000-Rs 31,000 as refundable security deposit depending on the vehicle type.

"Further our benefits on insurance for drivers and their spouses against loss of income due to contraction of COVID-19 as well as other medical support during this time, will continue to be offered to all our driver-partners across the country," said the company.

Earlier, the company announced that all its eligible driver-partners and their spouses if diagnosed positive for COVID-19 shall be covered by a sum of Rs 30,000 under which they can receive a compensation of Rs 1,000 per day for a maximum of 21 days.

This amount will include hospital and home quarantine prescribed by a qualified medical practitioner, as approved by the Government norms from time to time.

Drivers can make a claim for this compensation for themselves and (or) their spouse by providing appropriate medical documents.