Easy Loan App: Google India, in partnership with ICICI Bank, has launched a credit line on UPI. Google India has also expanded its portfolio of personal loans on Google Pay by partnering with Axis Bank.
According to Google India, the company announced a new feature on the Google Pay application on Thursday to assist small business owners in the country. Google stated that now, the Google Pay app will offer the convenience of ‘Sachet Loans’. This feature is initiated to meet the small loan requirements of Indian entrepreneurs. For this purpose, the technology company has launched ‘Sachet Loans’ on the G pay application.
According to Google India, the company will provide small business owners with a loan of just INR 15,000, which can be repaid in easy installments of INR 111. The tech giant has partnered with DMI Finance to offer loan services.
To support small businesses in fulfilling their working capital needs, Google Pay has improved its credit line partnership with e Pay Later. Business owners can use it for purchasing stock and supplies from both online and offline distributors.
Also, read – Google Pixel 8 Phone: Will Pixel 8 Come to India?
Beginning with ICICI’s Assistance
Google India has launched a credit line on UPI with the assistance of ICICI Bank. In addition to this, Google India has expanded its personal loan portfolio on Google Pay by partnering with Axis Bank. Furthermore, Amberish Kenghe, Head of Google Pay, mentioned that over the past 12 months, loans worth INR 16.7 trillion have been processed through UPI.
During the 9th edition of Google for India, the company’s President and Country Head, Sanjay Gupta, announced their plans to enhance efforts in improving the security of artificial intelligence. Making several announcements during the event, the company also revealed its intention to start local-level manufacturing of its Pixel smartphones, starting with the Pixel 8.
