Rapido Gets Karnataka Cab Aggregator Licence Till 2031

Rapido has secured a five-year cab aggregator licence from the Karnataka State Transport Authority, allowing the mobility platform to operate four-wheeler cab services in the state until August 2031. The approval gives the company greater regulatory certainty as it expands its cab business beyond its traditional bike-taxi operations. The licence has been issued under the Karnataka On-Demand Transportation Technology Aggregators Rules, 2016. It allows Rapido to run its cab services within a formal regulatory framework and provides greater continuity for both drivers and commuters. Karnataka is one of Rapido’s most important markets and its home state. The company currently operates across 21 cities, with more than 3.14 lakh captains and 2.04 crore registered customers in the state. More than 69 lakh customers have used Rapido’s cab services in Karnataka, according to the company. The approval is particularly important as Rapido continues to expand its four-wheeler business and compete with established players such as Ola and Uber. A longer-term licence gives the company more clarity to invest in its cab operations, onboard drivers and expand its customer base. Rapido has also been included in Karnataka’s Urban Mobility Mission, under which it will work with the state on areas including commuter access, technology integration, safety and service reliability. The company said predictable regulation can benefit commuters, drivers, platforms and the government. For Rapido, the licence could also help reduce some of the regulatory uncertainty that has surrounded its mobility operations in Karnataka, particularly its bike-taxi business. However, the new approval specifically provides a formal framework for its cab services. The development strengthens Rapido’s position in Karnataka’s competitive ride-hailing market. With regulatory approval secured until 2031 and a large existing customer and driver base, the company now has greater scope to scale its cab operations and build a broader mobility platform in the state. Tired of guessing stocks to trade in daily?Tradz by EquityPandit empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Tradz by EquityPandit app today and take control of your investments! The post Rapido Gets Karnataka Cab Aggregator Licence Till 2031 appeared first on Equitypandit.