New Delhi, Aug 28 : Readying its digital payment service for India, Tez, for a global roll out, Google on Tuesday renamed the app as Google Pay and introduced new features that could soon help its Indian users get instant "pre-approved" loans from some banks.
"Building for India has often meant Google building for everyone all around the world," Caesar Sengupta, Vice-President, Next Billion Users initiative and Payments, Google, said at its annual Google for India event here.
"At the moment, nothing is changing about the experience in India other than the name," he said, adding that Google is working with a few of India's top banks -- HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank -- to offer pre-approved, instant loans to their customers, right from within Google Pay.
This feature will roll out to eligible users within the next few weeks, Google said. With the roll out of this feature, eligible users will see a notification telling that that they are pre-approved.
Next, the users would have to decide how much they want to borrow, and how quickly they would like to repay.
Finally, after reviewing the terms of the loan, the bank will deposit the money in their bank account instantly -- without the need of any additional paperwork, Google said.
"In coming weeks and months, Google is making Pay even more useful through expanding the places users can pay in-store and online, expanding services for merchants, and working with the banks to provide instant loans to Google Pay users," Sengupta said.
Google launched the Tez app in India last year and since then over 55 million people have downloaded the app and more than 22 million people and businesses actively use the app for digital transactions every month.
Google Pay works with all major banks in India on BHIM UPI (Unified Payments Interface).
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
New Delhi (PTI): The Delhi High Court on Thursday dismissed a PIL seeking the removal of AAP leader Arvind Kejriwal from the post of chief minister following his arrest in the excise policy-linked money laundering case.
A bench headed by Acting Chief Justice Manmohan refused to comment on the merits of the issue, saying the same fell outside the scope of judicial interference.
"It is for the other wings of the government to examine in accordance with the law," the bench, also comprising Justice Manmeet PS Arora, said.
During the hearing, the court asked petitioner Surjit Singh Yadav's counsel to show the legal bar on the continuation of Kejriwal as the chief minister.
"There may be practical difficulties but that is something else. Where is the legal bar?" the court asked.
The Aam Aadmi Party (AAP) national convener, who was arrested on March 21 and subsequently remanded to the Enforcement Directorate's (ED) custody till March 28 by a Delhi court, faces allegations of direct involvement in a conspiracy related to the formulation of the excise policy favouring specific individuals.