Etymology
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Bombay

city in western India, from Portuguese, and popularly explained as Portuguese bom bahia "good bay," but that seems folk etymology (for one, the adjective is masculine and the noun is feminine), and the more likely candidate is the local Mumbadevi "Goddess Mumba," a Hindu deity worshipped there. The city's name officially changed to Mumbai in 1995.

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Definitions of Bombay

Bombay (n.)
a city in western India just off the coast of the Arabian Sea; India's 2nd largest city (after Calcutta); has the only natural deep-water harbor in western India;
Synonyms: Mumbai
From wordnet.princeton.edu