RBI Monetary Museum or Reserve Bank of India Monetary Museum is a museum in

Fort, Mumbai Fort is a business and art district in the city of Mumbai, Maharashtra. The area gets its name from the defensive fort, Fort George, built by the British East India Company around Bombay Castle. The area extends from the docks in the east, to ...

that covers the evolution of money in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

, from the earliest

barter system In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists distin ...

and the use of

cowries Cowrie or cowry () is the common name for a group of small to large sea snails, marine gastropod mollusks in the family Cypraeidae, the cowries. The term '' porcelain'' derives from the old Italian term for the cowrie shell (''porcellana' ...

paper money A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued ...

coins A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to ...

stock markets A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as ...

and modern-day electronic transactions. The museum was established under the educational programme by

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

, India's central bank, in 2004 and was inaugurated by A. P. J. Abdul Kalam, the then President of India. It was the first museum in the country devoted to

economic history Economic history is the academic learning of economies or economic events of the past. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and i ...

and

numismatics Numismatics is the study or collection of currency, including coins, tokens, paper money, medals and related objects. Specialists, known as numismatists, are often characterized as students or collectors of coins, but the discipline also includ ...

. The collection, divided into six sections, has about 1,500 objects that include coins dating back to 6th-century BCE and from Indus Valley, the Kushana Empire, the

Gupta period The Gupta Empire was an ancient Indian empire which existed from the early 4th century CE to late 6th century CE. At its zenith, from approximately 319 to 467 CE, it covered much of the Indian subcontinent. This period is considered as the Gold ...

and the

British Raj The British Raj (; from Hindi ''rāj'': kingdom, realm, state, or empire) was the rule of the British Crown on the Indian subcontinent; * * it is also called Crown rule in India, * * * * or Direct rule in India, * Quote: "Mill, who was himsel ...

; ancient paper money from across India,

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

and

Southeast Asia Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical United Nations geoscheme for Asia#South-eastern Asia, south-eastern region of Asia, consistin ...

; financial instruments; and other interactive exhibits. Entry to the museum is free.

References

External links

Official pageMuseums of India - RBI Monetary Museum
{{Reserve Bank of India Museums in Mumbai Numismatic museums in India Bank museums History museums in India Museums established in 2004 Buildings and structures completed in 2004 2004 establishments in Maharashtra Art museums and galleries in India Financial history of India Subsidiaries of Reserve Bank of India