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RBI: A Once in a Lifetime Opportunity

Nothing intrigues us more than the very mechanism of monetary institutions, be it the Federal Reserve System in the United States or the Reserve Bank of India, these monetary institutions carry a different sense of wonder, awe, admiration and respect. What if you got the chance to meet an important figure who helps spearhead the shaping of the economic fate of crores of Indians? Or to visit the central banking institution that controls the monetary policy of the fastest emerging and ‘almost stable’ Indian rupee? 107 of us from the ISC section visited the RBI headquarters and met the governor, Dr Raghuram Rajan.  After days of endless preparation, research and excitement the day to meet the master had finally reached shores. So enigmatic was the prospect of this visit that those  who weren’t able to accompany us, were longing to do so. We reached the headquarters at 1:00 pm and after lunch proceeded towards the scheduled programme. 20 minutes of preparation and endless excitement was followed by a warm welcome from the RBI officials. We were slowly approaching towards the much awaited highlight of this visit. A warm and cheerful Namaste, was followed by a quick interaction with the students, many of whom wanted to take over the RBI as future governors. After this, Dr Rajan was asked a couple of questions, RHIS he answered with ease, tranquility and clarity. After engaging in an hour long conversation with the Governor, we left for the famous Monetary Museum. The sight of currency notes and coins dating back to the British and Pre-British era, was captivating, and extremely interesting. After a half an hour visit to the museum we left for the Currency Verification Centre, where we dwelled deep into the role of the RBI in handling soiled, damaged and fake notes, those notes which are rejected by shopkeepers, auto rickshaw drivers, and various other citizens, who can’t handle the sight of perfectly ripped note. A grand visit, ended with an obvious reality check, when we boarded the bus, and made our way through the 6pm traffic.

–Siddhant Sharma 11 A

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