A request to Kolkata members. About 4 years back I had purchased an arbour from a road still stall in Bara Bazaar, Kolkata. The item is used for mounting a buffing wheel/pad on a hand drill. It was a locally made product and should be available at the road side stalls selling cutting wheels and assorted hardware. The item was priced less tha Rs 20. I am attaching a photo of the item.
I need just the bolt like item. The red disk is shown just to make the purpose clear.

My request to Kolkata members is that if and when they visit Bara Bazar, please see if they can find this item and buy 4-5 pieces for me. I will pay the cost and mailing charges. A PM to me would be nice.

will look for it. and get back to you. PM Your number

@yashodhanp
Thanks for your response. Number PMed

@Yashodhanp. Attaching googlemap. The sho,  I think, was on Old China Bazar Street

Aah okay.. Thank you so much. Will be of great help.

You can get it made locally for the cost of an old drill bit, a bolt and some nuts and washers.
Cutoff the twisted drill part of the drill bit (you will get a good true shank), now get the shank welded on to the bolt head and you can cut the threaded part to required length. Attach your fitting on to the threaded part with nut and washers.
While getting the ready made item is less hassle, but this way you can get arbors made in different sizes if you wish to and DIY is fun.
For added security the bolt head can be drilled, tapped and set screw used. Would not recommend just the screw retention due to safety aspects.  

That is how the arbor pictured is fabricated  

 While DIY shank would be interesting but welding the bolt perfectly coaxial to the drill bit will reqire precision welding. The way the arbor shown in post 1 is by turning (machining) out the whole unit from a steel rod.

Does not seem to be machined to me. The tell tale signs of the bolt head ground off to smoothen the serrations, the side hole in the bolt head do tell a story.
And if you closely match the shank dia with the bolt head recess size alignment should not be an issue.  

But who knows, you have the item and you are the best judge. I was just suggesting a way      

Something else also struck me. And if you are familiar with machining process in commercial operations you would see what I am saying.
If the entire piece was machined, the bolt head would not be there. For machining the piece as pictured, you would have to take bar that is slightly more in dia than the bolt head (let's call the thickest portion bolt head). Then start turning from one end for the shaft. Then step up the dia to the bolt head dia, and then step it down for the dia across thread. Why would one do that? Just leaving the dia to be what is across the thread makes sense in terms of ease of machining and also it would need lesser dia stock to make from

Turn down a bolt, cross drill and shove a cotter pin through. Voila!

I suspect Ashok never got to learn to operate a lathe (which i did)
Or to learn welding (which i too didn't)!
Other than these two i think he has more skills/tools than most hobbyists
And that is without counting his software and Ham radio expertise...

I think he feels too old and tired to go down and befriend the local mistri/lathewala!
(Perhaps i have the same problem )