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Business Standard

150 years from the Banyan Tree: The story of BSE, people who shaped growth

The story of the exchange and the people who shaped its growth: From wars and bomb explosion to speculators, reformers and wealth creators Sachin P Mampatta Listen to This Article In some ways, the history of the BSE can be traced back to the speculative mania that gripped Mumbai (then Bombay) more than a decade before the exchange's founding. Among the key figures of that great bubble was Premchand Roychand, described as a 'devout Jain, of fair complexion, lithe of limb and sweet of temper, of engaging manners and free from the pride of riches — who had seen no more than thirty-four summers but who carried a most clever financial head on his shoulders.' Roychand was involved with financial institutions like the Bank of Bombay and the Asiatic Bank.