India: Shriram Group aims to move to next level with IDFC merger

India: Shriram Group aims to move to next level with IDFC merger

IDFC Bank chief Rajiv Lall. Photo: Aniruddha Chowdhury/Mint

When R. Thyagarajan, 80, founded a chit funds business over four decades ago, he did not expect it to grow to a $16-billion (by loan book) financial conglomerate that would weigh on him even after he stepped down from formal roles.

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