Mumbai (Marathi: मुंबई Muṃbaī, IPA: / mumbəi/ (help·info)), formerly known as Bombay, is the capital of the state of Maharashtra, the most populous city of India, and by some measures the most populous city in the world with an estimated population of about 13 million (as of 2006).[1] Mumbai is located on Salsette Island, off the west coast of Maharashtra. Along with its neighbouring suburbs, it forms the world s sixth most populous metropolitan area with a population of about 20 million. The metro population ranking is projected to rise to 4th in the world by 2015 due to an annual growth rate of 2.2%.[2] 

Mumbai is the commercial and entertainment capital of India, and houses important financial institutions, such as the Reserve Bank of India (RBI), the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE) and the corporate headquarters of many Indian companies. Mumbai has attracted migrants from all over India because of the immense business opportunities, and the relatively high standard of living, making the city a potpourri of various communities and cultures.

A resident of Mumbai is called a Mumbaikar, or Bombayite. Many residents prefer to stay close to major railway stations for easy access to their workplaces, as a significant amount of time is spent on daily commuting. Thus, many live a fast-paced life, with very little time for social activities. Mumbai residents celebrate Indian and Western festivals with great fanfare.