FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it’s IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid/File Photo
BENGALURU (Reuters) – India plans to cap the commission taxi aggregators such as Uber (UBER.N) and home-grown Ola earn on rides to a maximum 10% of the total fare, financial daily Economic Times reported on Thursday, citing people privy to the matter.
This is the first time the government is looking to regulate the commission collected by such firms, which currently stands at about 20%, the paper reported here
Uber on Monday was stripped of its license to carry paying passengers in London for the second time in just over two years, pending an appeal, over a “pattern of failures” on safety and security.
Reporting by Derek Francis in Bengaluru; Editing by Subhranshu Sahu