[1] The gambling game Satta Matka was created at the Bombay Cotton Exchange.
Players who correctly guessed additional digits of the commodity prices would receive larger payouts.
Modern variants of Satta Matka rely on similar methods of random number generation.
Gujarati Association of Merchants) was established in the neighboring state of Gujarat, pioneering futures trading of agricultural commodities.
As other exchanges for options and futures trading of various commodities spread across India during the 20th century, the Indian government felt the need to establish a centralized exchange for risk management.