GPay to offer gold-backed loans in partnership with Muthoot Finance

Google has partnered with Muthoot Finance to introduce its offerings of gold-backed secured loans through Google Pay (GPay).  People across the country can now access this credit product, with affordable interest rates and flexible usage options--delivering flexibility to the borrower, and security to the lender, Google claimed.

According to Google India MD Roma Datta Chobey, about 11% of the world's gold is housed in India.

“The beauty of this is that it creates a stepping stone for them [the users] to get access to more,” says Sharath Bulusu, director of product management for Google Pay.

“It’s the first loan that they will take and it gives them a credit report. In the future, they still have the option to take collateralized loan because we have seen that some users repeatedly, even after they have started to build a credit history, choose collateralized loan because of the lower interest rates and familiarity with it,” he said according to a TechCrunch report.

AI Gemini Live in regional languages

At the 10th edition of the 'Google for India' event, held on Thursday, Google also announced that from October 3, 2024, its AI assistant Gemini Live will be available in Hindi, and later eight more Indian languages will be included.

Google further plans to introduce an AI overview feature in Google Search, which will be available in Bengali, Marathi, Telugu, and Tamil.

Multiple searches, single platform

As part of its future strategy, Google aims to integrate Beckn-enabled open networks with its AI model, Gemini, through an open-source Gemini Agent Framework. This means you can access information and services in one place. It is where you can find information, products, and services from different providers, no matter which app or network you use.

You can search for electronics, agricultural products, educational courses, or job opportunities. The open-source Gemini Agent Framework will connect you with the right providers and make transactions easy, all within one interface on any compatible app you choose.

Gemini Flash 1.5 is coming soon

Google also announced the upcoming release of 'Gemini Flash 1.5' in India, set to launch in the next couple of months. It is a simplified version of the Gemini 1.5 model created by Google. It is made for handling tasks quickly, with faster response times and less delay. Developers can use it for tasks like summarizing information, categorizing data, and understanding different types of content together.