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I see lots of people assuming that the drivers are in a debt trap. Its auto debt. They can just default and go home. The bank will take their car. I have talke
by rrrazdan 7y ago
I see lots of people assuming that the drivers are in a debt trap. Its auto debt. They can just default and go home. The bank will take their car.
I have talked to multiple Uber/Ola drivers. Sure the economics aren't as good now. But they are still better than alternatives. That's the sad truth. Unless people can get them better jobs, Uber/Ola will have to do.
- llampx 7y agoIts India. They might get a few broken limbs in the repo process. Its not as easy as you make it sound to walk out on a loan.
- rrrazdan 7y agoI live in India so I don’t understand what you mean by “Its India”. No nationalized bank( majority of auto loans) will use a coercive process. Hell no private bank will use one. RBI has clamped on that practice as illegal in 2010. Worse case is the bank repos the car and auctions it.