All 13 students of SYBMS visited the RBI Monetary Museum on 9th September 2025. The group, accompanied by Dr. Sunita Sharma, reached the museum at 10:45 a.m. After depositing their bags and mobile phones at the check-in counter, they were seated in the conference room of the museum, where they watched a film titled
“The Story of Money.”
The film highlighted the history of currency in India, including the notes issued by private banks in the 18th century such as the Asiatic Bank, Karnatak Bank, Calcutta Bank, and the Bank of Bengal. The students also learned about the Indian Coinage Act and the Paper Currency Act. The establishment of the Reserve Bank of India in 1935, its journey over the years, its role in currency management, and its contribution to the development of the monetary system were explained in detail.
It was emphasized that the currency issued before the establishment of the RBI was not legal tender. However, once the RBI began issuing currency, it became legal tender, signed by the Governor. The evolution of symbols on Indian currency was also explained—earlier notes carried symbols such as the elephant, while contemporary notes feature symbols representing science and technology.
After the film, the students proceeded to the museum, where they explored the following exhibits:
- Evolution of Money: From the barter system to modern-day currency. The collection included coins of different shapes, sizes, metals, and names used across India, including the smallest coin in the world.
- Weights and Measures: A display of traditional measuring instruments used in trade.
- Indian Coinage: A glimpse of rep esentative coins from ancient times to the present.
- Banking Instruments: Concepts related to promissory notes, bills of exchange, and the evolution of banking were explained. Exhibits included hundis, cheques, and other indigenous financial instruments.
- Paper Money in India: Beginning with early notes issued by private banks in the late 18th and early 19th centuries, followed by those issued by the Government and later by the RBI. The display also included notes from princely states and exigent (emergency) money.
- Journey from Coins to Banknotes: Showcasing how currency is managed in India and the security features of the contemporary Mahatma Gandhi Series of Notes.
The visit offered students a rich understanding of the history and evolution of money in India, as well as the critical role played by the Reserve Bank of India in shaping and managing the nation’s monetary system.
