Ms.Rajni Mishra,CGM,SBI with Mr.Pranay Jivrajka
VP- Operations Ola addressing media.

OLA CABS TIES UP WITH
STATE BANK OF INDIA FOR 
FINANCING DRIVERS .

The scheme ' Ola Pragati' ,SBI 
will offer car  loans to drivers on 
Ola's platform with a daily repayment scheme as against the current practice of an EMI.

Drivers on the Ola platform will 
also benefit from lower down 
payment of just 10% ,24 hour loan approval 
from SBI without collateral security and 
easier documentation.Ola expects about 
10,000 drivers entrepreneurs to avail the 
scheme in the next couple of years.

As per the sheme, the maximum loan amount to be granted is Rs.50 lakhs and the
EMI is Rs.2280 per lac.
Ola is founded in January,2011 by Two
IIT Bombay alumni,Mr.Bavish Aggarwal
& Mr.Ankit Bhati.