The opening day witnessed four matches with Air India, Tata Sports and DY Patil (B) registering contrasting wins in their league matches.
The 16 teams will play each other once in the league phase, before the knockouts commences in the eight day event.
The real heroes of the day were Jaffer and Khanvilkar as they helped their sides post wins.
Jaffer scored an unbeaten 84 off 52 balls with nine boundaries and two sixes as Indian Oil chased Tata Sports Club's total of 164 for seven.
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At the adjoining University Ground, Air India posted a massive 236-6 in their 20 overs against Mumbai Customs, thanks mainly to Hiten Dalal's 90 (43b, 12x4, 5x6) and Robin Uthappa's 70 (38b, 5x4, 4x6).
Mumbai Customs slipped to 88 for four in 7.3 overs in the chase, but Parag Khanapurkar (91: 54b, 10x4, 3x6) added 90 for the fifth wicket with Akash Parkar (53: 23b, 3x4, 4x6) to revive the chase.
The tournament's first centurion in this edition was former Mumbai batsman Onkar Khanvilkar who struck an unbeaten 102 off 68 balls with 13 boundaries as his side BPCL posted 177-3 in their 20 overs at the DY Patil Stadium.
For BPCL, leg-spinner Shreyas Gopal (3-23) and Avishkar Salvi (2-23) were the key bowlers in this afternoon clash.
Veteran leggie Pravin Tambe (3-26) and Shashank Singh (3-26) starred in DY Patil (B)'s impressive 17 run win over Jain Irrigation at the Unversity ground.
DY Patil (B) posted 156 in 18 overs and then restricted Jain Irrigation with a tight bowling display.