L&T Finance and Google Pay Tie Up for In-App Personal Loans
Why in the news
An NBFC joined a digital payments app so that borrowers can take personal loans without leaving the platform.
Key facts
- Lender: L&T Finance Ltd. (LTF), a leading NBFC.
- Platform: Google Pay.
- Function: eligible users can apply for and access personal loans directly in the app.
- Objective: strengthen product diversification and expand credit accessibility through a seamless digital channel.
Significance
- Financial products are being embedded into high-engagement platforms to reach a wider customer base.
Exam angle
- Full form: NBFC = non-banking financial company; LTF = L&T Finance.
- Partner app: Google Pay.
- Product offered: personal loans.