Meet man, founder of Rs 1.5 lakh crore company, has no phone, drives Rs 6 lakh car, his business is…

The creative force behind Shriram Group, Ramamurthy Thyagarajan, is a well-known figure in the business world. Among other billionaires, Ramamurthy Thyagarajan leads a modest life despite building an empire worth Rs 1,50,000 crore.

Ramamurthy Thyagarajan was born into a prosperous farming family. His path began with diligence and a solid academic foundation. Regarding his academic background, Thyagarajan first studied mathematics in Chennai before attending the esteemed Indian Statistical Institute in Kolkata to study statistics.

In 1961, Thyagarajan started working for New India Assurance Co., one of the biggest insurance companies in India.  He worked at Vysya Bank and reinsurance broker JB Boda & Co. during his two-decade career in finance.

He doesn't own a cell phone because he views it as a distraction, drives a car for Rs 6 lakh, and lives a very simple life. According to media reports, Thyagarajan built his business empire by giving loans to low-income clients that conventional banks ignored.

In partnership with AVS Raja and T Jayaraman, Thyagarajan co-founded Shriram Chits at the age of 37, specialising in commercial vehicle loans. According to the Shriram Group's website, the business concept that served as the basis for its success changed the game for underprivileged communities. Today, the company serves approximately 11 million customers through its 3600 branches, more than 70000 employees, and 140000 agents, with an AUM of more than Rs 150,000 crores.