Bania is not a gotra It was a profession. Baniya Danveer Seth Premchand Roopchand Surt

            Premchand was born in 1831 in a poor family. Who knew that this person, one day, would become the King of Cotton trade of India? So much so that in those times people used to say that “ Today’s rate is such, but what will be the rate of tomorrow if only known to Premchand Bhai.” This situation remained in Bomday for 40 years.

            His father Shri Raichand Deepchand was a Commission Agent in Surat. Shri Premchand cane to Bombay in his childhood. He startedbisiness of Cotton and Opium. He took contract of Bombay Reclamation Company from Colaba to Balkeshwar to fill uo the sea and earned a lot of money. At the time of Home War of America, the cotton rate in India rose very high. Shri Premchand took benefit of this occasion, and earned good profit.

            He established Premchand Raichand fellowship in university of Bomvay in 1864 by giving a donation of Six and quarter lac rupees. And Premchand Raichand fellowship in the University of Calcutta by donating Rs. Four and quarter lacs of rupees. Both of these Fellowships are still in force and are awarded to the research scholars of higher classes. In the same way he established many Girls Schools, Colleges and orphans at many places. He also invested his money for the building of Dharmshalas and other religious works.

            He used to say that what ever was his had given but what he possessed ws not his. He died in 1906.

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