Ramamurthy Thyagarajan is the mastermind behind the Shriram Group, a business empire valued at Rs 1,50,000 crore. Despite his immense wealth, Thyagarajan leads a life of simplicity. Reports indicate that he lives in a modest home, drives a Rs 6 lakh car, and even avoids owning a mobile phone, considering it a distraction. His success is largely attributed to providing financial services to low-income borrowers who are overlooked by traditional banks. This unique business model has been key to his grounded approach to wealth.
The Journey of Ramamurthy Thyagarajan
Born into a farming family in Tamil Nadu, Ramamurthy Thyagarajan pursued a degree in mathematics in Chennai and spent three years at the prestigious Indian Statistical Institute in Kolkata. His career began in 1961 with New India Assurance Co., and over the next two decades, he gained experience in finance working at Vysya Bank and JB Boda & Co. It was during this time that Thyagarajan noticed a gap in the market: truck drivers and small business owners struggled to secure loans from traditional banks. Recognizing this, he co-founded Shriram Chits at the age of 37 with AVS Raja and T Jayaraman. This venture, focused on providing loans for commercial vehicles, became the foundation of Shriram Group’s success.
Today, Shriram Group serves over 11 million clients through 3,600 branches and employs more than 70,000 people. With a total assets under management (AUM) of Rs 150,000 crores, the group continues to thrive.
Expansion and Legacy
Under Ramamurthy’s leadership, Shriram Group has grown into a conglomerate with more than 30 companies. As of August 2023, the group is valued at USD 750 million, with its flagship company
