State fertilizer company RCF plans to raise 1500 crore rupees through additional public offering

Ujjivan Small Finance Bank has announced a change in interest rates for FCNR(B) deposits ranging from three to five years. The new rate is 7.50%, which is higher than the previously offered 7.13%. This increase occurred after the Reserve Bank of India (RBI) lifted the interest rate cap for new FCNR(B) deposits of a similar term.

Bank Strategy and Objectives

The bank stated that this change underscores its commitment to providing competitive and client-centric banking solutions for the Non-Resident Indian (NRI) community. Furthermore, it supports India's efforts to strengthen its foreign exchange reserves and external sector.

Ujjivan SFB added that with this improved offering, the bank intends to enhance NRI participation, attract long-term foreign currency deposits, and contribute to the country's broader goals of sustainable economic growth and external sector stability.

Comments and Market Comparisons

Hitendra Jha, Head of Retail Liabilities, TASC and TPP at Ujjivan Small Finance Bank, noted that raising the interest rate on USD FCNR(B) deposits for a term of three to five years to 7.50% per annum makes it one of the most competitive offerings in the market.

Among major lenders such as State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank, the current rates for FCNR(B) deposits with a term of three to five years reach 6 percent. Previously, Bank of Baroda (BoB) also increased rates on these deposits by 50 basis points, reaching a peak rate of 6.25 percent for five-year deposits.

However, some mid-sized and small private banks offer higher rates compared to their larger counterparts. For instance, Yes Bank offers up to 6.6 percent on five-year FCNR(B) deposits, while AU Small Finance Bank offers a peak rate of 7.1 percent. CSB Bank offers 6.95 percent for such deposits.

Kapture CX, an agentic artificial intelligence startup headquartered in Bangalore, has successfully closed a Pre-Series B funding round, raising $10 million. The round was led by Bajaj Finserv Ventures (BFSV), which is part of the large financial group Bajaj Finserv.

Participants and Funding Goals

Existing investors Cactus Venture Partners and India Alternatives also participated in this round. According to an official statement, the funds raised will be used to expand Kapture CX's operations into global markets, as well as for research and development and product development. The startup aims to increase its revenue fivefold in the coming years. It also noted that since the Series A round in 2023, the company's revenue has grown fourfold while achieving profitability.

Leadership Comments

Co-founder and CEO of Kapture CX, Seshgiri Kamath, stated that the support from an AI-focused institution like Bajaj Finserv Ventures is a strong validation of their offering's value. He emphasized that for enterprises that have gone through the AI experimentation phase, Kapture represents where real value begins.

Platform History and Capabilities

Kapture CX was founded in 2014 and offers a verticalized, full-featured agentic AI platform focused on customer experience solutions in the corporate sector. The company serves over a thousand clients in 18 countries, including major players such as Bajaj Finance, Tata Group, and Reliance Group. Lakshmi Iyer, Head of Investments and MD and CEO of Bajaj Alts, commented on the investment, noting that it is part of the launch of an AI Opportunity Fund to invest in the growing AI ecosystem. She said that Kapture had a scalable product with deep technological capabilities, including model training, and a strong understanding of enterprise workflows and the partner ecosystem.

According to Kapture CX, the platform allows enterprises to implement AI at scale, avoiding the complexity of integrating multiple solutions from different vendors. The platform has vertical specialization and is backed by deep technologies that allow fine-tuning models for each specific industry.