This comes days after the company temporarily suspended surge pricing after the state government threatened to cancel permits for charging higher than prescribed fares.
"While tens of thousands of people are using Ola Shuttle on a daily basis, we would like to extend this service free of cost on select days for citizens, in our support of vehicle rationing scheme and contribute to the shared vision of a greener and cleaner Delhi," Ola Vice President New Initiatives Sundeep Sahni said in a statement.
Moreover, to a suggestion on Twitter that suspension of surge pricing should continue even after odd-even system Kejriwal said: "Yes. We will do it."
Ola runs over 500 shuttles in Delhi-NCR covering 120 routes and ferries over 20,000 people on a daily basis.
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Ola Shuttle customers need to use the coupon code ODDEVEN to get 100 per cent cash-back on their rides on April 22 and 29, Sahni added.
Delhi government is running the second phase of odd-even scheme from April 15. Under the 15-day scheme, odd and even number cars are allowed to ply on the roads on alternative days. There are no restrictions on Sundays.
Earlier this week, taxi aggregators Ola and Uber suspended surge pricing after Delhi government threatened to cancel permits for charging higher than prescribed fares.
The companies had already contended that surge pricing kicks in when demand outstrips supply and that higher prices are required to get cars on the road during the busiest times.