Karnataka to dictate fares for Ola, Uber

Karnataka on Wednesday became the first state to frame rules mandating taxi aggregators such as Uber and Ola to end surge pricing, stick to state-prescribed fares, fix digital meters with printers, and register their services with local transport authorities.

The move by the state government comes as a blow to both Uber and its local rival Ola, which have built their services around the on-demand model that calls for prices to surge as demand rises.