Premchand Roychand - Revision history

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Life

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	==Life==		==Life==
	~~Born~~ in ~~1831, he was the son of Roychand Dipchand~~, a ~~Dasa~~ [[Jainism\|Jain]], a merchant from [[Surat]]. The Roychand family moved to [[Bombay]] when Premchand was a young boy. He was educated at [[Elphinstone College]]. Recorded as the first Indian broker able to speak, read and write English, he entered the lists as a stock broker in 1849. Apart from the capital markets, Premchand Roychand had significant business interests in the cotton and bullion trades along with the stock market. He was a founding member of ''The Native Share & Stock Brokers Association'' which is now [[Bombay Stock Exchange]], the second largest stock exchange of India.<ref name="livemint">{{cite web\|url=http://www.livemint.com/Sundayapp/R5BUHntOmItyIJ2yE4G09M/Premchand-Roychand-Mumbais-original-share-king.html \|title=Premchand Roychand: Mumbai's original share king \|work=[[Mint (newspaper)\|Livemint]] \|first=Ashish K. \|last=Mishra \|access-date=2016-07-27}}</ref> He earned significant profits from the cotton boom which was triggered by the start of the [[American Civil War]] in April 1861 which stayed till 1865.<ref name="livemint"/><ref>{{cite web\|url=http://www.dnaindia.com/money/report-mumbai-s-first-realty-bust-was-in-1865-1082931 \|title=Mumbai's first realty bust was in 1865 \| Latest News & Updates at Daily News & Analysis \|work=[[Daily News and Analysis\|DNA India]] \|date=2007-03-04 \|access-date=2016-07-27 \|first=Vivek \|last=Kaul}}</ref><ref name="Subramanian2016">{{cite book\|author=Lakshmi Subramanian\|title=Three Merchants of Bombay: Business Pioneers of the Nineteenth Century\|url=https://books.google.com/books?id=iUhvd13OoEwC&pg=PT122\|date=15 January 2016\|publisher=Penguin Books Limited\|isbn=978-81-8475-721-7\|pages=122–130}}</ref><ref name=":0">{{Cite news\|url=http://www.thehindubusinessline.com/todays-paper/tp-others/tp-variety/premchand-roychand-and-bombay-dreams/article983860.ece\|title=Premchand Roychand and Bombay dreams\|date=2010-02-14\|work=The Hindu Business Line\|access-date=2017-07-18\|language=en}}</ref>		Premchand Roychand was born in 1832 as [[Porwal]], a [[Jainism\|Jain]] community. He was the son of Roychand Dipchand, a merchant from [[Surat]]. He was born in the Dasa caste. The Roychand family moved to [[Bombay]] when Premchand was a young boy. He was educated at [[Elphinstone College]]. Recorded as the first Indian broker able to speak, read and write English, he entered the lists as a stock broker in 1849. Apart from the capital markets, Premchand Roychand had significant business interests in the cotton and bullion trades along with the stock market. He was a founding member of ''The Native Share & Stock Brokers Association'' which is now [[Bombay Stock Exchange]], the second largest stock exchange of India.<ref name="livemint">{{cite web\|url=http://www.livemint.com/Sundayapp/R5BUHntOmItyIJ2yE4G09M/Premchand-Roychand-Mumbais-original-share-king.html \|title=Premchand Roychand: Mumbai's original share king \|work=[[Mint (newspaper)\|Livemint]] \|first=Ashish K. \|last=Mishra \|access-date=2016-07-27}}</ref> He earned significant profits from the cotton boom which was triggered by the start of the [[American Civil War]] in April 1861 which stayed till 1865.<ref name="livemint"/><ref>{{cite web\|url=http://www.dnaindia.com/money/report-mumbai-s-first-realty-bust-was-in-1865-1082931 \|title=Mumbai's first realty bust was in 1865 \| Latest News & Updates at Daily News & Analysis \|work=[[Daily News and Analysis\|DNA India]] \|date=2007-03-04 \|access-date=2016-07-27 \|first=Vivek \|last=Kaul}}</ref><ref name="Subramanian2016">{{cite book\|author=Lakshmi Subramanian\|title=Three Merchants of Bombay: Business Pioneers of the Nineteenth Century\|url=https://books.google.com/books?id=iUhvd13OoEwC&pg=PT122\|date=15 January 2016\|publisher=Penguin Books Limited\|isbn=978-81-8475-721-7\|pages=122–130}}</ref><ref name=":0">{{Cite news\|url=http://www.thehindubusinessline.com/todays-paper/tp-others/tp-variety/premchand-roychand-and-bombay-dreams/article983860.ece\|title=Premchand Roychand and Bombay dreams\|date=2010-02-14\|work=The Hindu Business Line\|access-date=2017-07-18\|language=en}}</ref>

	He lost the majority of his fortune in the [[Back Bay (Mumbai)\|Backbay reclamation scheme]], and other such ventures.<ref>{{Cite web\|url=http://www.rediff.com/money/2004/jan/03spec3.htm\|title=An insane interlude in history\|website=www.rediff.com\|access-date=2017-07-18}}</ref> He subsequently earned a portion of it back and turned to philanthropic ventures. The [[Rajabai Clock Tower]] in the [[University of Bombay]] was named for his mother and was built from a donation of {{INR\|200,000}} in 1878.<ref name="livemint" /><ref name="Bhatt1995">{{cite book\|url=https://books.google.com/books?id=Jbmdowzuv0QC&pg=PA39\|title=History and Development of Libraries in India\|date=1 January 1995\|publisher=Mittal Publications\|isbn=978-81-7099-582-1\|pages=39–40\|author=Rakesh Kumar Bhatt}}</ref> He was director of the Bank of Bombay, the largest in the [[Bombay Presidency]].<ref name="Subramanian2016" /> He also invested in other schools, including many for girls such as [[J.B. Petit High School for Girls]]; he also established the "Premchand Roychand Award" for outstanding art students with the [[University of Calcutta]]. He also donated to the [[The Asiatic Society of Mumbai\|Asiatic Society]].<ref name="livemint"/><ref>{{cite web\|url=http://timesofindia.indiatimes.com/city/mumbai/Schools-get-architects-to-save-a-chapter-of-their-own-history/articleshow/52815917.cms \|title=Schools get architects to save a chapter of their own history - Times of India \|work=[[Times of India]] \|first=Nergish \|last=Sunavala \|date=2016-06-19 \|access-date=2016-07-27}}</ref><ref name=":0" />		He lost the majority of his fortune in the [[Back Bay (Mumbai)\|Backbay reclamation scheme]], and other such ventures.<ref>{{Cite web\|url=http://www.rediff.com/money/2004/jan/03spec3.htm\|title=An insane interlude in history\|website=www.rediff.com\|access-date=2017-07-18}}</ref> He subsequently earned a portion of it back and turned to philanthropic ventures. The [[Rajabai Clock Tower]] in the [[University of Bombay]] was named for his mother and was built from a donation of {{INR\|200,000}} in 1878.<ref name="livemint" /><ref name="Bhatt1995">{{cite book\|url=https://books.google.com/books?id=Jbmdowzuv0QC&pg=PA39\|title=History and Development of Libraries in India\|date=1 January 1995\|publisher=Mittal Publications\|isbn=978-81-7099-582-1\|pages=39–40\|author=Rakesh Kumar Bhatt}}</ref> He was director of the Bank of Bombay, the largest in the [[Bombay Presidency]].<ref name="Subramanian2016" /> He also invested in other schools, including many for girls such as [[J.B. Petit High School for Girls]]; he also established the "Premchand Roychand Award" for outstanding art students with the [[University of Calcutta]]. He also donated to the [[The Asiatic Society of Mumbai\|Asiatic Society]].<ref name="livemint"/><ref>{{cite web\|url=http://timesofindia.indiatimes.com/city/mumbai/Schools-get-architects-to-save-a-chapter-of-their-own-history/articleshow/52815917.cms \|title=Schools get architects to save a chapter of their own history - Times of India \|work=[[Times of India]] \|first=Nergish \|last=Sunavala \|date=2016-06-19 \|access-date=2016-07-27}}</ref><ref name=":0" />

98.109.34.144 at 16:53, 5 April 2021

2021-04-05T16:53:43Z

New page

{{short description|Indian businessman}}
{{Use Indian English|date=September 2018}}
{{Use dmy dates|date=September 2018}}
{{Infobox person
| name = Premchand Roychand
| image = Premchand Roychand.jpg
| birth_name =
| birth_date = {{Birth-date|March 1832}}
| birth_place = [[Surat]]
| death_date = {{Death year and age|1906|1831|03}}
| death_place =
| nationality = Indian
| occupation = Stockbroker and businessman
| years_active =
| known_for =
| notable_works = Donor of [[Rajabai Clock Tower]]
}}

'''Premchand Roychand''' was a 19th-century Indian [[Jainism|Jain]] businessman known as the "Cotton King" and "Bullion King" from [[Bombay]].<ref>{{Cite web|last=Mishra|first=Ashish K.|date=2015-05-23|title=Premchand Roychand: Mumbai's original share king|url=https://www.livemint.com/Sundayapp/R5BUHntOmItyIJ2yE4G09M/Premchand-Roychand-Mumbais-original-share-king.html|access-date=2020-09-14|website=mint|language=en}}</ref>

==Life==
Born in 1831, he was the son of Roychand Dipchand, a Dasa [[Jainism|Jain]], a merchant from [[Surat]]. The Roychand family moved to [[Bombay]] when Premchand was a young boy. He was educated at [[Elphinstone College]]. Recorded as the first Indian broker able to speak, read and write English, he entered the lists as a stock broker in 1849. Apart from the capital markets, Premchand Roychand had significant business interests in the cotton and bullion trades along with the stock market. He was a founding member of ''The Native Share & Stock Brokers Association'' which is now [[Bombay Stock Exchange]], the second largest stock exchange of India.<ref name="livemint">{{cite web|url=http://www.livemint.com/Sundayapp/R5BUHntOmItyIJ2yE4G09M/Premchand-Roychand-Mumbais-original-share-king.html |title=Premchand Roychand: Mumbai's original share king |work=[[Mint (newspaper)|Livemint]] |first=Ashish K. |last=Mishra |access-date=2016-07-27}}</ref> He earned significant profits from the cotton boom which was triggered by the start of the [[American Civil War]] in April 1861 which stayed till 1865.<ref name="livemint"/><ref>{{cite web|url=http://www.dnaindia.com/money/report-mumbai-s-first-realty-bust-was-in-1865-1082931 |title=Mumbai's first realty bust was in 1865 | Latest News & Updates at Daily News & Analysis |work=[[Daily News and Analysis|DNA India]] |date=2007-03-04 |access-date=2016-07-27 |first=Vivek |last=Kaul}}</ref><ref name="Subramanian2016">{{cite book|author=Lakshmi Subramanian|title=Three Merchants of Bombay: Business Pioneers of the Nineteenth Century|url=https://books.google.com/books?id=iUhvd13OoEwC&pg=PT122|date=15 January 2016|publisher=Penguin Books Limited|isbn=978-81-8475-721-7|pages=122–130}}</ref><ref name=":0">{{Cite news|url=http://www.thehindubusinessline.com/todays-paper/tp-others/tp-variety/premchand-roychand-and-bombay-dreams/article983860.ece|title=Premchand Roychand and Bombay dreams|date=2010-02-14|work=The Hindu Business Line|access-date=2017-07-18|language=en}}</ref>

He lost the majority of his fortune in the [[Back Bay (Mumbai)|Backbay reclamation scheme]], and other such ventures.<ref>{{Cite web|url=http://www.rediff.com/money/2004/jan/03spec3.htm|title=An insane interlude in history|website=www.rediff.com|access-date=2017-07-18}}</ref> He subsequently earned a portion of it back and turned to philanthropic ventures. The [[Rajabai Clock Tower]] in the [[University of Bombay]] was named for his mother and was built from a donation of {{INR|200,000}} in 1878.<ref name="livemint" /><ref name="Bhatt1995">{{cite book|url=https://books.google.com/books?id=Jbmdowzuv0QC&pg=PA39|title=History and Development of Libraries in India|date=1 January 1995|publisher=Mittal Publications|isbn=978-81-7099-582-1|pages=39–40|author=Rakesh Kumar Bhatt}}</ref> He was director of the Bank of Bombay, the largest in the [[Bombay Presidency]].<ref name="Subramanian2016" /> He also invested in other schools, including many for girls such as [[J.B. Petit High School for Girls]]; he also established the "Premchand Roychand Award" for outstanding art students with the [[University of Calcutta]]. He also donated to the [[The Asiatic Society of Mumbai|Asiatic Society]].<ref name="livemint"/><ref>{{cite web|url=http://timesofindia.indiatimes.com/city/mumbai/Schools-get-architects-to-save-a-chapter-of-their-own-history/articleshow/52815917.cms |title=Schools get architects to save a chapter of their own history - Times of India |work=[[Times of India]] |first=Nergish |last=Sunavala |date=2016-06-19 |access-date=2016-07-27}}</ref><ref name=":0" />

He died in 1906. His bungalow in [[Byculla]] that he named Premodayan became Regina Pacis Convent, an orphanage and school for destitute girls.<ref>{{Cite news|url=http://indianexpress.com/article/cities/mumbai/this-home-stood-witness-to-the-hands-that-built-bombay/|title=This home stood witness to the hands that built Bombay|date=2014-01-21|work=The Indian Express|access-date=2017-07-18|language=en-US}}</ref><ref name=":0" />

==Legacy==
Premchand Roychand Scholarship award was started in 1886 by Premchand Roychand, by the contribution of the prize money by millionaire of the society. It is very old and prestigious scholarship award. Each year this competition and award is organized by [[University of Calcutta]].<ref>{{cite web |title=Distinguished Alumni |url=https://www.caluniv.ac.in/about/Alumni.html |website=www.caluniv.ac.in}}</ref><ref>{{cite web |last1=Mishra |first1=Ashish K. |title=Premchand Roychand: Mumbai's original share king |url=https://www.livemint.com/Sundayapp/R5BUHntOmItyIJ2yE4G09M/Premchand-Roychand-Mumbais-original-share-king.html |website=mint |language=en |date=23 May 2015}}</ref>

==Further reading==
* {{cite book|author=Sharada Dwivedi|title=Premchand Roychand (1831-1906): His Life and Times|url=https://books.google.com/books?id=-oj1PgAACAAJ|year=2006|publisher=Eminence Designs|isbn=978-81-903821-1-3}}

==References==
{{Reflist}}

==External links==
* [http://www.premchand-group.com/ Premchand Roychand & Sons (Business Group's Official Website)]

{{Authority control}}

{{DEFAULTSORT:Roychand, Premchand}}
[[Category:Gujarati people]]
[[Category:Businesspeople from Gujarat]]
[[Category:People from Surat]]
[[Category:1831 births]]
[[Category:1906 deaths]]