Millions of tourists flock to the vibrant city of Mumbai in Maharashtra each year, seeking out its historical, cultural, entertainment, and culinary attractions. Though most know that the city is the financial capital of the country, not many are familiar with the fact that there is a museum that’s deeply related to the financial history of the country, located in the city - RBI Monetary Museum. This unique museum opened in 2004 and it was inaugurated by the illustrious president at the time, A.P.J. Abdul Kalam. It has various temporary and permanent exhibits and interactive displays that aim to educate the visitor about the evolution of currency in India. Coins, currency notes, financial instruments, and many other artifacts related to the monetary history of India are on display here. Located in the heart of posh south Mumbai, this museum is hidden in plain sight, near the headquarters of the Reserve Bank of India. History buffs and numismatists will delight in checking out the amazing collection of ancient coins from different ages. Both children and adults will enjoy the exhibits at this well-maintained museum. To know more about the monetary heritage of India, check out our guide to RBI Monetary Museum, Mumbai.
Things to do / highlights
Learn about the monetary history of India
As one of the finest, albeit not well-known museums in the country, RBI Monetary Museum does a great job of showcasing the rich monetary history of the country. Visitors can learn about the evolution of currency through all the ages, kingdoms, and rules of India. Information is presented in a properly researched and structured manner.
Various sections of the museum take the visitor on a journey of the financial systems of India, starting with barter, moving to the use of coins under various ancient kingdoms through to currency in the pre-independence and post-independence era. The role of RBI (Reserve Bank of India) is also explained in a detailed yet simple manner. Some exhibits even provide information on how the general public can distinguish between original and counterfeit currency notes. Engaging interactive displays and slideshows also inform the visitors about the banking system in India.
Admire the beautiful coins, notes and displays
RBI Monetary Museum is a treasure trove of information about India’s financial heritage. And it highlights this heritage by means of well-maintained and strategically arranged displays and exhibits. The museum is said to have one of the rarest and best collections of currencies from across the world.
Both children and adults will enjoy admiring the amazing coins and currency notes on display here. Various monetary artifacts, like bank seals and unique items like a 10,000 rupees note, are also showcased at the museum. Besides ancient Indian gold, silver, and other coins, you will also see coins from the British colonial rule and present-day currencies here.
Things to buy
Books
RBI Monetary Museum is a hidden gem in the city, and it’s not a museum that sees a large number of visitors every day. Thus, it doesn’t have a large souvenir or gift shop on its premises. But the museum is said to have a kiosk where it sells booklets and brochures that depict useful information about finance in India. Visitors can choose from four different books, namely, ‘Indian Coinage’, 'The Story of Money in India’, 'Precious Signatures’ and 'India’s Contemporary Currency’. All the books carry a very nominal price of INR 5 (0.06 USD) each, and they contain a lot of pertinent information about RBI and India’s monetary heritage.
Mementos
The museum is also known to stock a variety of mementos and small souvenirs for purchase. Though these may not be as readily available as the aforementioned books, visitors should check with the museum authorities about coins, currency notes, or replicas of the same that may be available for sale.
Travelers tips
Security
Since it is affiliated to the central bank of India, RBI, the museum follows strict security protocols. All visitors are required to deposit their bags and belongings in lockers provided at the entrance of the museum. Various other security checks are also in place and visitors have to abide by the rules before they can enter the museum.
Restrictions
No mobile phones are allowed inside RBI Monetary Museum. Visitors must switch off their phones before entering the museum. Since there is a lot of sensitive material on display in the museum, photography of any kind is also not permitted inside the museum premises.
How to get there
Public transport
C.S.T. is the closest railway station to RBI Monetary Museum. From there, you can take a taxi or walk for about 12 minutes to reach the museum. Alternatively, you can even take a B.E.S.T. local bus from the train station or anywhere else in the city to get to the museum.
Taxi or ride-hailing apps
Taxi is the most convenient and comfortable way of reaching the museum. You can hail one off the streets in south Mumbai or pre-book one too. You can also use ride-hailing apps like Uber or Ola to get to the museum.
Private vehicles
Since RBI Monetary Museum is located in a posh and busy area of south Mumbai, on Phirozeshah Mehta Road in the commonly known ‘Fort’ area, driving directions to it are easily available. You can drive your own car or motorcycle or a rental vehicle to the museum.
Parking information
The museum has a few reserved parking spots for cars and tourist buses, in close proximity to the museum. But if these spots are occupied, visitors will have to use street parking or nearby paid parking lots to park their vehicles.
RBI Monetary Museum information
Address: Amar Building, Ground Floor, Sir Phirozshah Mehta Rd, Fort, Mumbai, Maharashtra 400001, India
Opening hours: Tue - Sun: 10:45am - 5:15pm (closed on Mon)
Cost: Free
Official Website: RBI Monetary Museum
Department of tourism: Maharashtra Tourism
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