Google Pay Expands Credit Options; Spiritual Apps Embrace AI

Fast Summary

• Google Pay Credit Card: Google Pay is in talks with Axis Bank to develop a co-branded credit card.This follows its cautious entry into Indian financial services with personal and gold loans. The move marks a shift from Google’s previous focus on non-regulated businesses in India.

• AI in Devotional Platforms: Spiritual apps like AppsForBharat, Bhagva, and Utsav are using AI for features such as chant translations and astrology-based predictions. AppsForBharat recently raised Rs 175 crore, while Utsav and Bhagva secured Rs 6.35 crore and Rs 8.6 crore, respectively.

• Ola Electric Q1 Results: Ola Electric’s revenue halved to Rs 828 crore due to declining two-wheeler sales amidst growing competition. Net loss widened by 23% YoY but sequential improvements included higher gross margins (25.6%) and lower total expenses (-42%). The company aims for profitability over aggressive expansion.

• TCS Variable Pay Announced: Over 70% of TCS employees received full variable pay for Q1 FY24, though clarity remains absent on annual salary hikes amidst weak macroeconomic conditions.

• HCLTech Q1 Performance: HCLTech reported net profit decline (-9.7% YoY) due to client bankruptcy impacts but grew revenue by +8%. Its deal book reached $1.8 billion TCV with updated FY26 guidance of growth between 3-5%.

Read More: Economic Times

Indian Opinion Analysis

The ongoing diversification across India’s fintech ecosystem signals innovation as major players explore new offerings like Google Pay’s co-branded credit card partnership with Axis Bank-a notable push that could bolster financial inclusion while challenging conventional banking models. Regulatory compliance may be crucial in this endeavor given past precautions by Google globally.

The rise of AI-enabled spiritual platforms reflects a engaging blend of technology with cultural traditions, tapping into the niche segment where user engagement drives funding momentum-an indicator of growing investor trust in culturally aligned apps targeting Indian diaspora populations globally.On Ola Electric’s performance, its pivot towards profitability comes at a critical juncture as EV industry competition intensifies in India post-hyper-growth phase consolidation-an approach that could stabilize its operations without compromising long-term scalability plans if executed efficiently.

TCS’s variable pay proclamation provides relief amid uncertainties tied to economic pressures affecting overall IT sector compensation trends; however, challenges persist as wage hike clarity for other grades lingers alongside moderate growth projections across larger firms such as HCLTech despite healthy deal pipelines.

These developments paint an evolving picture across sectors where robust technology adoption meets competitive market dynamics-a story emphasizing India’s resilience through adaptive strategies within startups to corporates alike amid shifting macroeconomic winds worldwide.