Ramamurthy Thiagarajan founded Shriram Chits at the age of 37 along with AVS Raja and T. Jayaraman.
New Delhi. When business success is identified with cars worth crores, expensive phones and luxurious bungalows, then Ramamurthy Thiagarajan quietly breaks this notion. Despite being the founder of a business empire worth more than Rs 1.69 lakh crore, he neither has a mobile phone, nor an expensive car nor a life full of ostentation. Tyagarajan, who considers simplicity as the basic mantra of life, has proved that it is not necessary to look big to think big and this thinking makes him one of the most unique and inspiring industrialists of India. His thinking and lifestyle are reminiscent of late industrialist Ratan Tata. Ramamurthy Thyagarajan (Ramamurthy Thyagarajan Success Story) founded Shriram Chits at the age of 37 along with AVS Raja and T. Jayaraman. Their objective was to provide financial help to those people who found it difficult to get loans through the traditional banking system. Truck drivers were also there among them. This thinking later became the foundation of Shriram Group, which is today providing financial services to crores of people in the country.
Donated Rs 6,210 crore to the trust
Despite business success, Thiagarajan was always inclined towards social service. He once sold his stake and received around Rs 6,210 crore ($750 million) and donated the entire amount to a trust, so that this money could be used for the welfare of the society. The move makes him among India's biggest philanthropist industrialists.
Thiagarajan drives a car worth Rs 6 lakh
His personal life is also equally simple. He lives in a normal house, drives a car worth around Rs 6 lakh and does not own a mobile phone even in today's digital era. He believes that real wealth lies in influence and purpose, not personal luxury.
Market cap of Shri Ram Finance Rs 1.69 lakh crore
Also read: Deal worth Rs 39000 crore, the biggest FDI deal in India's financial sector, Shriram Finance sold 20% stake.
Born in a prosperous farmer family
For a man who grew up among servants in an affluent farming family in the state of Tamil Nadu, founding a socialism-inspired lending company might seem an unexpected career choice. But Thiagarajan says his mind has always been analytical and egalitarian. He studied mathematics at the undergraduate and postgraduate levels in Chennai, after which he spent three years at the prestigious Indian Statistical Institute in Kolkata. In 1961, he started working at New India Assurance Company, one of India's largest insurance companies, and worked for two decades as an employee in the finance sector. This included working at regional lender, Vysya Bank, and reinsurance broker, JB Boda & Company.
About Shriram Group Business
Today Shriram Group operates with 3,600 branches, 70,000 employees and 1.4 lakh agents across the country. The group has more than 11 million customers and its assets under management (AUM) are around Rs 1.5 lakh crore.
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