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<keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> announced the launch of <keyword id="3852837" type="UNKNOWN" weightage="20" keywordseo="Ola-credit">Ola Credit</keyword> today,and yes, you read that right! 
 It is a unique postpaid service to enable users who can now pay later for their rides. There’s a catch- Ola Credit enables commute to only key corporate clients like L&amp;T, Siemens, <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> among many others and high-frequency customers, which means new users might not be able to avail this service anytime soon. 
 Ola Credit will give customers 7 days of credit so they can keep booking Ola cabs without worrying about having sufficient <keyword id="37885" type="ORGANIZATION" weightage="20" keywordseo="Cash">cash</keyword> in their wallet or in banks. Ola Credit can be repaid via net banking, debit or credit cards easily within a period of 7 days. 
 
<a href="http://www.businessinsider.in/5-crucial-developments-in-the-startup-space-you-must-know-about/articleshow/55456342.cms">ALSO READ: 5 crucial developments in the startup space you must know about</a> 
 Raghuvesh Sarup, Chief Marketing Officer, and Category Head at Ola talked to <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> about how the company will settle dues if unpaid,’ We are only providing this service to our trusted customers and corporate partners. If for some reason, the payment isn’t made within 7 days, we will remind the user and make sure that our patronage isn’t affected.’ 
Ola Credit, if used right, can play an important role in the movement of a large number of low-value transactions online, allowing people to conserve lower denomination currency for their other important daily needs. 
 
So how does it work? 
 
A customer can select ‘Ola Credit’ as their payment option while booking a ride. The 7-day credit cycle begins from the date of the first credit ride. A customer will be able to clear dues using <a href="http://www.businessinsider.in/The-pros-and-cons-of-e-wallets-like-Paytm-Freecharge-and-Mobikwik/articleshow/55437683.cms">Ola Money,</a> within the credit period of 7 days. 
<a href="http://www.businessinsider.in/Zoomcar-is-now-using-this-AI-tech-To-Make-Driving-Safer/articleshow/55459851.cms">This is a great way to track your weekly cab expenses and pay them according to the time of the month when your credit cycle might be going haywire.</a>

In a first, Ola launches credit for ride-share

At a time when startups are mushrooming in India, a few desi companies have already gone far ahead in the race. <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> are making news in the US owing to the competition they pose to their US counterparts <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and Uber. 
 While speaking to <keyword id="824043" type="COMPANY" weightage="60" keywordseo="Business-Insider">Business Insider</keyword> at the <keyword id="69007" type="ORGANIZATION" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> recently, <keyword id="154034" type="PERSON" weightage="100" keywordseo="Gita-Gopinath">Gita Gopinath</keyword> who is permanent faculty at <keyword id="97117" type="ORGANIZATION" weightage="60" keywordseo="Harvard-University">Harvard University</keyword>'s Economics department, said – “I see an upward trend in the <keyword id="6356076" type="UNKNOWN" weightage="60" keywordseo="indian-economy">Indian Economy</keyword> with higher FDI coming in, especially in new businesses. Companies like Flipkart and Ola are talked about in the U.S. and for all the right reasons.” 
 <keyword id="60820" type="PERSON" weightage="20" keywordseo="Gopinath">Gopinath</keyword> is the third woman to have become a permanent professor at the prestigious <keyword id="53675" type="ORGANIZATION" weightage="100" keywordseo="harvard">Harvard</keyword> University’s Economic Department. The post also makes her the first Indian after Nobel laureate <keyword id="9663" type="PERSON" weightage="20" keywordseo="Amartya-Sen">Amartya Sen</keyword> to receive such an honour. 
 While reacting to the <keyword id="1948072" type="UNKNOWN" weightage="20" keywordseo="Indian-startup">Indian Startup</keyword> ecosystem, she further added – “Companies like Flipkart and Ola might be termed as ‘copycat companies’ born out of ideas that have worked abroad but they are being commended for giving a stiff competition to their U.S. counterparts namely Amazon and Uber.” 
 <keyword id="7858" type="PERSON" weightage="20" keywordseo="Gita">Gita</keyword> stressed on the need for domestic investment to further push the Indian <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> on a progressive path. "We need to realise that entrepreneurship is not necessarily increasing employment. The concrete economic reforms such as GST tax, biometrics for payments, fiscal federalism, <keyword id="6706196" type="ORGANIZATION" weightage="20" keywordseo="Unique-Identification-Number">Unique Identification Number</keyword> ie. Aadhaar are transforming the country’s economy. While it is encouraging to see FDI increasing, the real change will come with domestic private investment increasing in the country." 
 
<a href="http://www.businessinsider.in/The-2016-festive-sales-Flipkart-Amazon-Snapdeal-and-Shopclues/articleshow/54657097.cms">ALSO READ: The 2016 festive sales- The winner so far</a> 
 This woman of strength also called for increased <keyword id="624" type="ORGANIZATION" weightage="20" keywordseo="Women">women</keyword> participation in the workforce while identifying the challenges they have to face. 
 
She concluded by saying - "The awareness has increased about the need to increase women participation in the workplace, but there are no amenities to assure that. Women need to feel safe when they go to work and this disparity is growing in urban and rural areas. Women need to be given the same opportunities in every sector, and there’s a long way to go." 
 
Picture credits: World Economic <keyword id="23897" type="ORGANIZATION" weightage="20" keywordseo="forum">Forum</keyword>

EXCLUSIVE: Indian Harvard Professor Gita Gopinath says Americans are
talking about Flipkart and Ola

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In a first, Ola launches credit for ride-share

Tanya Dubey

EXCLUSIVE: Indian Harvard Professor Gita Gopinath says Americans are talking about Flipkart and Ola

Tanya Dubey

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