A baby boy has become the first victim of Bourke Street mall car rampage to be laid to rest, as two others continue to fight for life in hospital.

Zachary Bryant was farewelled on Tuesday at a private funeral. He was three-months and 14 days when he died after being hit by a car aimed through the mall on Friday.

His devastated parents, Matthew and Nawwar Bryant, released a statement on Monday evening describing their son as “the light of our lives”.

“He was the most beautiful loving, happy and perfect little baby we were so luck to be gifted with.”

A private funeral for Thalia Hakin, 10, will be held on Wednesday.

Meanwhile, the driver accused of killing five people and wounding dozens more in the Melbourne CBD rampage has been charged, but failed to appear in court.

Dimitrious “Jimmy” Gargasoulas, 26, was allowed to remain in the custody cells when his matter was heard in the Melbourne Magistrates’ Court on Monday after he was charged with five counts of murder.

Police were forced to wait three days to charge Gargasoulas as he recovered from a gunshot sustained after they shot him on Friday when he allegedly ran down pedestrians in Bourke Street mall, killing five and injuring more than 30.

Shortly after doctors cleared him for interview on Monday, police charged him with five murders and said more charges were pending.

Gargasoulas did not appear in the Melbourne Magistrates’ Court as planned because he was unwell, his lawyer said.

He has been remanded in custody and ordered to face court via video link in August.

Chief Commissioner Ashton said Gargasoulas had surgery on his arm on Saturday night.

Bail changes announced

Gargasoulas was “well known” to police. He was charged with a crime on January 14 and was granted bail by an after-hours bail justice, despite police opposing it.

The Victorian government on Monday announced a wide-ranging review of the bail system, and the establishment of a night court so magistrates can preside over bail hearings.

Victorian Premier Daniel Andrews said it was his job to take the “anger and frustration” Victorians were feeling and put that into reform and change.

“All of us feel it. How could this have happened? How could such a tragedy have come to our city? How could so many lives end and so many lives change forever?” he said.

Vigil for victims

Meanwhile, thousands of people flocked to Federation Square in central Melbourne to pay tribute to the five victims of the tragedy.

Dimitrious Gargasoulas said he was too sick to appear in court. Photo: Facebook

Stuffed toys and flowers adorned the stage at the square, with law student Henry Dow telling the crowd how a taxi driver named Lou jumped into action alongside him after the attack.

“I am Lou, you are going to be okay,” was how the cabbie reassured the female victim, Mr Dow said.

“We are looking after you.”

The pair commenced CPR on the woman, with Lou taking command.

He was a “genuine hero”, Mr Dow said.

Lou told 3AW on Tuesday he believed having trained at the Australian Defence Force Academy for a short time helped him keep a level head and direct those nearby.

“It was basically, right, this is what needs to be done, bang, bang, bang, you there, you there,” he said.

He began treating four people around him when his attempts to flag down police went unnoticed.

He saw an off-duty orthopaedic surgeon using brochures to strap a woman’s leg, while workers from a nearby pharmacy rushed over medical equipment.

He ran up and down the length of the footpath seven or eight times, checking every single individual, he said.

Lou even made an effort to get water bottles for the police officers as they worked.

Tears flowed as the crowd observed a minute of silence.

Crowds gather in Federation Square for a vigil to the Bourke Street victims. Photo: ABC

Youngest victim named

Among the five dead were three-month-old baby boy Zachary Bryant, 10-year-old Thalia Hakin, 22-year-old Jess Mudie and 33-year-old Matthew Si.

Zachary’s identity was released on Monday evening, with his parents describing him as the “most beautiful, loving, happy and perfect little baby”.

PHOTO: Jess Mudie, 22, and Matthew Si, 33, were killed during the incident.

Matthew and Nawwar Bryant, whose two-year-old daughter Zara is in a stable condition after also being struck on Friday, thanked everyone who helped, comforted and grieved with them and asked for privacy to mourn in peace.

The Victorian government has set up a fund for the families affected by the incident, pledging an initial $100,000 and inviting donations via the Victorian government’s website, or by calling 1800 226 226.

By lunchtime Tuesday more than $685,000 in donations had poured in since the fund was opened on Sunday.

Mr Andrews said 15 people remained in hospital, two of whom are in a critical condition.

One of the critical is Nethra Krishnamurthy, who had just fed her baby and was returning to work when she was struck. It was her first week back at work from maternity leave.

“We have grave fears for their health and wellbeing,” he said.

The Jewish community held a community memorial and prayer service for Thalia on Sunday night.

Police have spoken to more than 300 witnesses about events at Bourke Street on Friday, and are urging others to come forward with videos or photos of the incident.

Prime Minister Malcolm Turnbull lays flowers at a memorial for the victims. Photo: AAP

– with ABC, AAP