Explanation:

- The state of Bombay was divided into Maharashtra and Gujarat on May 1, 1960. This reorganization was based on linguistic lines to create states with a more homogeneous language-speaking population.

- Option 1: 1959 is not correct. The bifurcation was in the subsequent year.

- Option 2: 1962 is incorrect because the bifurcation happened earlier than this date.

- Option 3: 1960 is the correct answer. The Bombay Reorganisation Act, 1960, led to the formation of the new states.

- Option 4: 1958 is irrelevant as the reorganization events took place later.