Google Pay users in India have a reason to celebrate as the popular payment platform has expanded its services, making loans more accessible. During the 10th edition of the Google for India event, the tech giant announced partnerships with Muthoot Finance and Aditya Birla Capital, allowing users to avail gold loans and personal loans through the app.
Gold Loan Now Available Through Google Pay
One of the biggest announcements was the launch of a gold loan feature on Google Pay. Thanks to a collaboration with Muthoot Finance, users can now take out a gold loan of up to Rs 50 lakh online without needing a credit score or extensive documentation. This makes the process of securing a loan easier and more convenient, as users can apply from the comfort of their homes.
The loan amounts range from Rs 5 lakh to Rs 50 lakh, with low interest rates. This feature is especially useful for those looking to meet financial needs without selling their gold. While the exact process for availing the loan hasn’t been detailed yet, it is clear that this partnership will benefit many Google Pay users across India.
Increased Personal Loan Limit on Google Pay
Apart from gold loans, Google Pay has increased the limit for personal loans. In collaboration with Aditya Birla Capital, users can now apply for a personal loan of up to Rs 5 lakh directly through the app. This gives users greater financial flexibility to meet their personal needs, with the added convenience of applying through a platform they already trust.
UPI Circle: A New Feature for Safe Payments
Google Pay also introduced a new feature called UPI Circle, which enhances the UPI payment system. With UPI Circle, users can set a transaction limit for transferring money from their UPI account to others. This is part of the government’s recently launched UPI Circle Delegated Payment Service, which was previously available only on the BHIM app. Through this feature, users can make transactions of up to Rs 15,000 per month.
This feature offers better control over payments and ensures safer and more secure transactions.
Gemini AI Tool Now Supports Regional Languages
Another significant announcement from Google was the launch of the Gemini AI tool in eight regional languages, including Hindi, making it more accessible to a broader audience. This AI tool was first introduced in Pixel phones earlier this year and is now available in other devices. In the coming weeks, it will also support Bengali, Gujarati, Kannada, Malayalam, Marathi, Telugu, Tamil, and Urdu. This move is in line with Google’s ongoing efforts to make technology accessible to all Indians, regardless of the language they speak.
AI Skill House for Education and Job Seekers
In addition to financial services, Google launched the AI Skill House, an educational platform offering AI courses for students, job seekers, developers, and civil officers. These courses, which cover topics like Generative AI and Responsible AI, will be available for free on YouTube and the Google Cloud Skill Boost platform. Initially, the courses will be available in English, but Google plans to introduce them in seven Indian languages soon. This initiative aims to upskill people across India, helping them adapt to the growing demands of the AI-driven world.
