Nisha Desai, the CEO and Founder of venture capital firm Andav Capital, has sued PayPal in the US over racial bias against Asian Americans. Desai claims PayPal prefers Black and Hispanic applicants over Asian Americans in its $530-million program to support minority-led businesses. "To PayPal...Asian Americans might be minorities, but they're the wrong kind of minority," the suit said.

Reliance Retail, the largest shareholder in troubled hyperlocal startup Dunzo, has written off its $200 million investment in the company, multiple sources privy to developments told. It is not involved in any talks to infuse funds into Dunzo or acquiring it in a distress sale after the company's cash crunch and retreat from quick commerce in the past 24 months.

Zepto has secured Singapore's approval to move its domicile to India, The Economic Times reported. The move comes ahead of Zepto's plan to launch its IPO by March or April this year. The National Company Law Tribunal (NCLT) will hear the quick commerce startup's reverse merger application to move its base from Singapore on January 17.

OpenAI whistleblower Suchir Balaji's blood trails at his apartment suggest he was "crawling" out of bathroom to seek help, US investigative journalist George Webb told India Today. "The apartment was ransacked," Webb said, noting that Balaji's backup drive with sensitive information tied to lawsuits against OpenAI is missing. Police deliberated for "just 14 minutes" on the crime scene, he added.

EaseMyTrip Co-founder Nishant Pitti said his recent share sale was for personal reasons and he won't offload more stake in the firm. Pitti on Tuesday sold a 1.4% stake in the company for ₹78 crore through an open market transaction, reducing his stake to 12.8%. He resigned as the company's CEO a day later with immediate effect.

Commerce Minister Piyush Goyal said his ministry is open to ideas to make it easier for startups to shift their domicile back to India. "It is a welcome sign and also very...satisfying that more...startups want to come back home, register...list...and grow in India," Goyal stated. "India will be the preferred destination in the future," he added.

India's foreign exchange reserves dipped by $4.1 billion to an eight-month low of $640.2 billion in the week ended December 27, the latest RBI data showed. Foreign currency assets, which fell by $4.6 billion to $551.9 billion, majorly contributed to the decline in the reserves. Meanwhile, gold reserves rose by $541 million to $66.2 billion in the week.

US President Joe Biden has blocked Japan's Nippon Steel from acquiring US Steel in an over $14 billion deal, citing national security risks. "A strong domestically owned and operated steel industry represents an essential national security priority," Biden said. "US Steel will remain a proud American company, one that's American-owned, American-operated, by American union steelworkers," he added.

Kotak Mahindra Bank's Chief Operating Officer (COO) and Chief Technology Officer (CTO) Milind Nagnur has resigned due to personal reasons, according to a corporate filing. His resignation will be effective from February 15. "An interim technology organisation structure has been put in place in the bank to ensure smooth functioning," the filing said.

Samuthra Infrastructure has announced its foray into the industrial and business parks with plan to develop 10 parks across the country. The company expects to attract USD 10 billion in potential investments. The first phase will begin in Tamil Nadu, where industrial parks are being planned near the Chennai-Bangalore highway areas and Chennai port, ensuring seamless logistical connectivity.