Bangalore: Shriram Group, a Chennai based diversified business conglomerate is set to inspire entrepreneurs and boost up the startup eco system by floating a venture capital fund and an angel fund, reports economictimes.com.

Shriram Group has also partnered with TVS Capital Fund operating TVS Shriram Growth Fund to enhance and promote equity investments. "We will support entrepreneurs. It may be through the venture capital (route) or angel investments. Even this morning, I met an entrepreneur. This is a pretty new area. See, these are all in starting stage", said Shriram Capital, Board of Directors, Chairman, Arun Duggal, to economictimes.

The company plans to start banking operations as well but in ‘Low transaction costs’ "We want rates on deposits to be very low. See, 80 per cent of our customers are self-employed or truck owners. We want to offer better services to our customers. Our ambition is to have banking services at low transaction costs", he said.

The company also announced that A 'Lifetime Achievement Award' would be given to a senior journalist who has relentlessly worked over 25 to 30 in the field of financial journalism.

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