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Google Joins Hands with Banks to Offer Online Loans in India
September 11, 2018
Tech giant Google is inking a pact with 4 major lenders in India to offer online loans to people and tap into the massive $1 trillion market. These partners are Kotak Mahindra Bank, ICICI Bank, HDFC Bank, and Federal Bank, all of which have agreed to offer pre-approved and instant online loans to the users via Google Pay.
Google’s Tez app is already popular across the country and used by 55 million people in more than 300,000 towns and villages. It allows the users to borrow instant loans and have the money deposited directly into their bank accounts.
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