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Google Partners with Aditya Birla Finance and Muthoot Finance to Offer Personal and Gold Loans.

Banking & Finance | Dated: 17 Oct 2024

Google, the American search engine giant, has teamed up with Aditya Birla Finance Limited (ABFL) and Muthoot Finance Limited to enhance its financial services on Google Pay. This partnership was announced during the 10th edition of the Google for India event, held on October 3, 2024, in New Delhi.

🎯 Key Highlights:

  • - Google is collaborating with Aditya Birla Finance to offer personal loans, while it is partnering with Muthoot Finance to provide gold-backed loans.
  • - Through this initiative, Indians will have access to credit products with affordable interest rates and flexible usage options, offering borrowers flexibility and security for lenders.

💡 Other Important Facts:

  • (i) According to Google India MD Roma Datta Chobey, about 11 per cent of the world's gold is housed in India.
  • (ii) The organized gold loan market is projected to exceed ₹10 trillion in FY25 and may reach ₹15 trillion by March 2027, according to ICRA Limited.

📚 Test Your Knowledge:

Which company recently partnered with Aditya Birla Finance and Muthoot Finance to offer personal and gold loans?

Correct Answer: Google

🚀 Quick Recap: