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A Visit To RBI Monetary Museum-HKIMSR

HKIMSR lays emphasis on imparting practical knowledge and thereby organizes one day Corporate Visit every month to various companies. Finance is considered to be the blood of any business and when it comes to understanding finance, we cannot ignore the main institutions. The students at HKIMSR had the privilege of visiting the RBI Monetary Museum and gather some practical insights.MMS/PGDM Batch 2015-2017 & MMS Batch 2016-2018 students had visit planned under the guidance of the Director, Prof. Tamojit Roy along with Asst. Prof. Taiseen Patankar and Prof. Sunita Das. The RBI visit was planned on 18th August 2016 and 21st st September 2016 in co- ordination with Shri. P. V. Radhakrishnan, Curator, RBI Monetary Museum.

Visit-To-RBI-Monetary-Museum-03This visit was primarily an educational visit but the real time dynamics that students got to learn was something which enriched their knowledge even beyond textbooks or curriculum. The visit started with the students being taken to the monetary museum, wherein they were shown a small audio video which was a small compilation of the origin of currency and the evolution of money since the 1st piece of metal exchanged to the current system .It talked about the challenges faced by currency at each level and the changes that were made in it to suit changing trade patterns.

Shri. P. V. Radhakrishnan gave brief presentation on RBI Monetary Museum, explaining the 6 sections of museum. RBI Monetary Museum explains the history of money through definitions, exhibits and info-graphics. It touches base on early barter exchange, metals as mode of payment, coins issued by Indian kings, rulers, princely states and Britishers. It then moves to evolution of paper currency, cheques, promissory notes, bills of exchange, establishment of banks and use of electronic money.

There was also brief information about various schemes of RBI. Students enjoyed playing a game on monitory transactions and also the models of ATM machine from the beginning. The museum was made such that it became very easy to understand the banking system of the country. Aafreen Siddique,a student of MMS Batch 2015-2017 said,‘The overall experience for us students was very enlightening, enriching and acquainted us with certain procedures that we as citizens wouldn’t have known otherwise. This visit also resulted in a direct interaction of the students with the people who contribute to the monetary system to such a great extent’.

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