The Reserve Bank of India is India’s Central bank responsible for regulating and supervising banks in India and the printing, issuing, and supply of money flowing in the market. Initially established as a private organisation in 1935, it was later nationalised in 1949. Being an organisation of such high value across the nation, it has an additional responsibility of preserving and making people aware of the rich monetary heritage of India. APJ Abdul Kalam inaugurated the Reserve Bank Of India Monetary Museum in November 2004 and opened to the public in January 2005.
The RBI Monetary Museum
Located in Mumbai, Maharashtra, the RBI Monetary Museum narrates the story of money in India. It shows the evolution of currency from the early days of the barter system to the present times of paper and electronic currency. It was an initiative under the RBI’s public education and outreach programmes. The museum currently exhibits more than 10,000 coins, paper currency, and financial instruments.
Tourist Attractions at the Museum
The RBI Monetary Museum is divided into six sections. They are
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Section 1: Ideas, Concepts, and Curiosities
It showcases the evolution of money from the barter system to coins to notes and now e-money. It exhibits Indian currency made in various shapes, sizes, and metals, along with their names.
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Section 2: Coinage
It exhibits the collection of coins from the sixth century BC to the ones used. It contains coinage of the ancient era, medieval era, princely states and regional powers, Indo-European companies, British India, and independent India.
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Section 3: From Coins to Paper Money
It shows how people started accepting money in exchange for goods and how India led the journey from coins to paper money. It exhibits various financial instruments like notes, bills of exchange and cheques, and Hundies.
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Section 4: Paper Money
It shows how the paper currency has evolved. It exhibits notes from the early 19th century and notes issued by RBI over time. It also displays representative notes of Princely states and other territories and exigent money.
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Section 5: Know Your Currency
It shows the management of currency in India, journey notes and coins from its introduction to its discontinuation, and the Mahatma Gandhi Series of notes.
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Section 6: RBI and You
It exhibits the functions of RBI, its role in India’s economy, and the common man’s everyday life.
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Information Kiosk
The Information Kiosk is a museum where students can play money-related games.
Other facilities at the RBI Monetary Museum
- It has locker facilities to keep your valuables safe.
- Restroom and water arrangements are there for the visitors.
- Six cars and two buses can be easily parked around the museum.
- The museum conducts a quiz on the rich monetary heritage of India for school children on special request. The winners of the quiz are awarded a memento and a participation certificate.
- On special requests, a multimedia presentation on the Story of Indian Paper Money is arranged.
- Momentoes titled ‘The Story of Money in India’, ‘India’s Contemporary Currency,’ ‘Indian Coinage,’ and ‘Precious Signtures’ are available and can be purchased at a minimal cost and taken as souvenirs.
Timings of the RBI Monetary Museum
The RBI Monetary Museum remains open from Tuesday to Sunday from10.45 am to 5.15 pm. It remains closed on Monday and Bank Holidays.
Entry fee to the RBI Monetary Museum
Entry to the RBI Monetary Museum is free for everyone. Bookings need to be made with the museum’s curator in case of group visits and guided tours. Cameras and bags are not allowed inside the museum. Also, Photography is strictly prohibited.
Address of the RBI Monetary Museum
RBI Monetary Museum Reserve Bank of India Amar Building (Ground Floor) Sir Pherozesha Mehta Road, Fort, Mumbai – 400 001
Contact Number of the RBI Monetary Museum
+91-22-2261 4043
+91-22-2261 0801
