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The Reserve Bank of India, which is the central bank of India, doesn’t require any introduction. People are aware of its role in developing India’s economic background. One of the best destinations to unfold details of RBI and India’s monetary history is by visiting the RBI Monetary Museum. Curated and maintained by the Reserve Bank of India, the museum offers an insightful journey through the history of money in India, tracing its origins from the barter system to modern-day digital currency. On your next vacation to Mumbai, consider stopping at the RBI Monetary Museum in Fort is a must-visit.
Quick Details About RBI Monetary Museum
Address: AMAR BUILDING RBI, Ground Floor, Sir Phirozshah Mehta Rd, Fort, Mumbai, Maharashtra
Timings: 10:45 AM – 05:15 PM (Monday closed)
Ticket Price: Free
Duration Of Visit: 1.5 to 2 hours
Photography: Not permitted inside the museum
Best Time To Visit: Year-round
About
Photo: Rangan Datta Wiki / Wikimedia Commons / Image For Representation Only
The RBI Monetary Museum was inaugurated by the Reserve Bank of India in 2004. The main objective behind the development of the museum was to create awareness about the history and role of money in the economic development of India. The museum is located in the heart of Mumbai, a short walk from Chhatrapati Shivaji Maharaj Terminus, making it easily accessible to tourists and locals alike.
Inside the museum, you will find numerous different artefacts including ancient coins, paper currency, commemorative coins, and informative displays on the history of Indian banking. Getting to explore the individual exhibits in the museum is undoubtedly the best part of exploring the museum.
How To Reach
Photo: A.Savin / Wikimedia Commons
Reaching the RBI Monetary Museum is quite seamless, given that it is quite centrally located. You can reach the museum via air, rail and road.
By Air: Chhatrapati Shivaji Maharaj International Airport in Mumbai is the nearest airport to the museum. You can then consider hiring a taxi from the airport to reach the museum in approximately 45-60 minutes, depending on the traffic.
By Rail: If you are around the Chhatrapati Shivaji Maharaj Terminus (CSMT), the museum is within walking distance from the railhead. Trains from various parts of Mumbai and neighbouring cities connect to CSMT, making it a convenient option for rail travellers.
By Road: Local buses run by the Brihanmumbai Electric Supply and Transport (BEST) can take you to Fort, where the museum is located. For a more comfortable experience, use autos or taxis.
Places To Visit Around RBI Monetary Museum
After you are done exploring the museum and the individual galleries inside, you have to take your time to explore the nearby sightseeing spots around the museum.
1. Gateway Of India
Photo: Vijay Sharma / Wikimedia Commons
Without a doubt, the most iconic tourist attraction in Mumbai is the Gateway of India. The gateway, which dates back to 1924, was constructed during British colonial rule to commemorate the visit of King George V and Queen Mary to India. The gateway is constructed along the Arabian Sea, so you get to savour the stunning views of the sea in the background. Also, the Taj Mahal Palace Hotel is nearby, which adds to the beauty of the view.
Distance From Museum: 1.6 Km
2. Prince Of Wales Museum
Photo: Ramesh lalwani / Wikimedia Commons
The Chhatrapati Shivaji Maharaj Vastu Sangrahalaya, formerly known as the Prince of Wales Museum is one of the most premier destinations to visit in Mumbai. The museum is located a short walk from the RBI Monetary Museum and houses a rich collection of art, sculpture, natural history, and artefacts dating back to ancient Indian civilisations. One of the most unique elements of this museum is the stunning Indo-Saracenic architecture, which is courtesy of the British rule that India was governed under.
Distance From Museum: 1.5 Km
Address: 10:15 AM – 6 PM
3. Marine Drive
Photo: Amol Bharti / Wikimedia Commons
Marine Drive is another one of the destinations you wouldn’t regret visiting from the museum. Stretching 3.6 km along the Arabian Sea, this curved road offers stunning views of the ocean and Mumbai’s skyline. There’s not much you can do around Marine Drive except soak in the stunning views of the sea and also bask in the beautiful views of the sunset that you get to witness from the rock boulders and the surrounding promenade.
Distance From Museum: 4.2 Km
Address: 24*7
Where To Stay
Photo: Pixabay / Pexels / Image For Representation Only
The RBI Monetary Museum is located in Fort and there are numerous hotels and guest houses available around the museum for your accommodation. A few of the must-book hotels include Hotel Enigma Inn, Livlit, Hotel Flora Fountain, Welcome Hotel Fort and Hotel Lords.
Where To Eat
Photo: OMKITCHEN / Pexels / Image For Representation Only
For a well-rounded trip around the museum, being aware of the best restaurants in close vicinity comes in handy. There are quite a few different eateries, restaurants and cafes around Fort in Mumbai that you can check out. A few of the must-visit spots include Oceanic, Alfresco, Aaheli, The Chutney Co., and Bridge Bistro Bar.
Other Factors To Consider
Photo: Rangan Datta Wiki / Wikimedia Commons / Image For Representation Only
To have a well-rounded trip exploring the RBI Monetary Museum, keep the following pointers in mind:
- Plan your visit on a weekday to avoid crowds.
- Allocate around 2 hours to fully explore the museum.
- Taking RBI Monetary Museum photos is prohibited, so avoid breaking the rules.
- The museum is located in a busy part of Mumbai, so it’s advisable to use public transportation to avoid parking issues.
- The museum can be quite large, so it’s advisable to wear comfortable shoes.
Visiting the RBI Monetary Museum in Mumbai on your next trip to the city is a must. It is one of those unique experiences that you wouldn’t think to explore in the beginning but it is worth prioritising. The museum is a must-visit for anyone interested in learning about the country’s economic development. So, plan your next trip to Mumbai with TripXL to visit this unique and educational attraction.
Cover Photo: Reshub / Wikimedia Commons
