With the introduction of the mobile-app based model in the taxi market, the business is experiencing a vast difference. The earnings of the cab drivers are skyrocketing with many of them earning anywhere between Rs. 75,000 to Rs.1,00,000 per month. Citing one example of a cab driver, Mr. Lokesh R. from Bengaluru earns around Rs.80,000 per month and sometimes earns more than Rs.1,00,000 per month if he gets more rides. He adds that prior to this, he was making a meager amount of Rs.15,000 to Rs. 20,000 per month. Mr. Arvind Singhal, CEO of Taxi for Sure said that with such changes in the taxi business, many educated professionals have approached him to become cab drivers. They are looking at it as an entrepreneurial venture against a 9:00 a.m. to 5:00 p.m. IT job. The online taxi market is driven by mobile app technology. Also, the highly competitive rates is giving a tough competition to the local cab drivers. The taxi companies blooming in India are Ola, Uber and Taxi for Sure. Ola, which is currently valued at $ 2.5 billion, started its operations four years ago and is currently present in over 100 cities. Uber, being globally successful and valued above $ 50 billion started business in India in August 2013 and is currently present in 11 cities. Uber across the world runs only on credit card payment system, wherein the customer fills in the credit card details while booking the cab. But, looking at the cash payment demand in Indian market, the global giant has made a shift in the payment method to make a place in the taxi market. The taxi market is growing leaps and bounds and currently estimated to be around Rs,11,000 crore and is growing in double digits. The drivers are making hay while the sun shines by earning more than the regular cab drivers. In case of Uber, for every trip made, the drivers are paid 80% of the fare, which is credited to their bank account. Also, a bonus of Rs,150 is paid for every trip during the peak hours and Rs. 50 during non-peak hours. Ola, provides the bonus to drivers if they do six trips in a day, while Taxi For Sure charges the drivers with only 8-12% of the ride fare. With such schemes introduced, the drivers are encouraged to serve the customers. At the same time, the customers also get a cab when in need. Hence, it appears to be a win-win situation for both the parties. Citing one more example, Mr. Basavaraj from Bengaluru who was under heavy family debts bought(i) How has the mobile-app based taxi business model brought a revolution among the masses?(ii) In what way have the cab drivers benefited after the shift to mobile-app based taxi hailing service?(iii) Why are professionals now opting to become cab drivers over their 9:00 a.m. to 5:00 p.m. IT job?(iv) What are the various payment benefits given to the cab drivers by the companies?(v) The cab drivers working under mobile-app based taxi model are benefited. Cite an example of happy cab drivers from the passage.(vi) How are families joining hands with the cab drivers to support them?(vii) How the companies help the drivers in new purchase of the cabs?(viii) Have the mobile-app based cabs affected the regular cabs, if yes, explain?