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The city houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.

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Michael's Church at Mahim (1534), The Portuguese also built several fortifications around the city like the Bombay Castle, Castella de Aguada (Castelo da Aguada or Bandra Fort), and Madh Fort.The English were in constant struggle with the Portuguese vying for hegemony over Bombay, as they recognised its strategic natural harbour and its natural isolation from land-attacks.It is not exactly known when these islands were first inhabited.Pleistocene sediments found along the coastal areas around Kandivali in northern Mumbai suggest that the islands were inhabited since the South Asian Stone Age.However, Salsette, Bassein, Mazagaon, Parel, Worli, Sion, Dharavi, and Wadala still remained under Portuguese possession.

From 1665 to 1666, the English managed to acquire Mahim, Sion, Dharavi, and Wadala.A resident of Mumbai is called mumbaikar in Marathi, in which the suffix kar means resident of.The term had been in use for quite some time but it gained popularity after the official name change to Mumbai.Between the second century BCE and ninth century CE, the islands came under the control of successive indigenous dynasties: Satavahanas, Western Satraps, Abhira, Vakataka, Kalachuris, Konkan Mauryas, Chalukyas and Rashtrakutas, The Delhi Sultanate annexed the islands in 1347–48 and controlled it until 1407.During this time, the islands were administered by the Muslim Governors of Gujarat, who were appointed by the Delhi Sultanate.Along with the neighbouring regions of the Mumbai Metropolitan Region, it is second most populous metropolitan area in India, with a population of 21.3 million as of 2016 For centuries, the islands were under the control of successive indigenous empires before being ceded to the Portuguese Empire and subsequently to the East India Company when in 1661 Charles II of England married Catherine of Braganza and as part of her dowry Charles received the ports of Tangier and Seven Islands of Bombay.