“A Central focus”

Your editorial "A Central focus” (Parsiana, September 7, 2007) on the Central Bank of India will make every Parsi feel proud. However, I found an important fact missing in the editorial. Before Sohrabji Poch­khanawala founded Central Bank, the banking sector was monopolized by foreign banks. Hence the Central Bank was India’s first swadeshi (national) bank.

Pherozeshah Mehta: saving grace

Jealous of the Bank, some vested interests floated a strong rumor that Central Bank was crashing, resulting in a mad rush by account holders to withdraw their money. At that crucial moment, the Lion of Bombay, Pheroze­shah Mehta, who had deposited two lakh rupees in the Bank, came to Pochkhana­wala’s aid by offering to let him "utilize my money to pay the account holders.” As a result, the Bank survived and faith in it was strengthened.

Whenever Parsi students were up to mischief in Bombay’s St Xavier’s College, its then German principal Father Dhurh was wont to say, "Don’t worry, you Parsi boys, the Central Bank is there for you.”

As a crowning glory for the community, its present chairperson is a Parsi lady.

JIMMY H. HAVEWALA

Baroda