Google Cloud has announced a $1 billion (approximately Rs. 7,434.9 crore) investment in CME Group, a US-based derivatives marketplace, as part of a new 10-year agreement. The financial services company will use Google Cloud servers to run its operations. For those entering the field of "derivatives," which are financial instruments rather than assets, the two companies seek to offer risk reduction tools and other user-beneficial platforms.
Finance Minister Nirmala Sitharaman told the Rajya Sabha on July 27 that the Indian government does not have data on the cryptocurrency market and has no idea how many active cryptocurrency exchange platforms or users there are in the country, in response to a question from Rajya Sabha MP and former Bihar deputy chief minister Sushil Kumar Modi.