THE FAST GROWING financial services giant, Shriram Group, has been in the news for its several innovations. Latest is the announcement by Chairman Arun Duggal of Shriram Capital Ltd (SCL), the holding company of the financial services and insurance- entities of the group, on the institution of the Shriram Awards for Excellence in Financial Journalism. The Group has been applauding such excellence through several other awards including the Bharathiyar Award for propagation of Tamil literature and Bharatiyar’s message to the society at large and Aram Award for those contributors of society who live their lives adhering to the core values advocated by Tirukkural. I remember the extensive efforts of the team led by R Kannan of Shriram Chit Funds to recognise talent among students spread across the state.
Chairman Duggal, Group Director G S Sundararajan, and MD-Shriram Life Insurance Co Ltd, Akhila Srinivasan explained the salient features of awards that will be presented in two categories:
1. Indian Economic Policy and Macro Economic Issues
2. Financial Markets including Equity, Debt and Foreign Exchange
The company also proposes to pre-sent a life time achievement award to a journalist to honour his/her contribution in the field of financial journalism over a period of 25-30 years. Apart from founder-Chairman, R Thyagarajan, Duggal, R Sridhar, Managing Director presently heading Shriram Capital and Akhila Srinivasan, have been media-savvy. They have been effectively projecting the continuous sterling performance of the group in handling ever larger volume of business.
Duggal pointed to SCL presently having the customer base of close to a crore, of an employee strength of 45,000 across 2400 offices, assets under management in excess of Rs 60,000 crore and a handsome net profit of over Rs 1500 crore.
Duggal referred to the spirit behind this as Founder-Chairman R Thyagarajan. Apart from the commitment of the group companies, RT has been allocating handsome contributions from his personal wealth to social causes. Shriram Foundation, vastly engaged in social amelioration, spends around Rs 5 crore annually. RT has also been supporting the Chennai Mathematical Institute with regular personnel contributions.