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==Life== | ==Life== | ||
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" /> | ||