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Covid-19 Impact: As Loans Sour, Many Cab Drivers Left With Nowhere To Turn
Covid has not just impacted cab drivers' incomes, but lenders are also in a spot as bad loans continue to rise in the segment.
28 Jun 2021, 01:46 PM IST
Cab drivers have been among the hardest hit by the Covid crisis. People are staying home, there is little daily office traffic, fewer leisure trips. Those who can afford it, are opting for the safety of private vehicles.All this has meant a sharp fall in earnings for cab drivers for the second year running, prompting many, who once drove as part of the Uber and Ola networks, to default on loans taken to buy vehicles.The segment, whil...
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