| Summary, etc |
In the 17th century, when banks were set up to issue notes, they conjured money out of thin air, introducing the unique alchemy in money’s transition from the concrete to the abstract. While paper money remains an essential part of daily life, its worth is tied not to its intrinsic value but rather to a shared system of belief, trust and knowledge. Taking off from this fundamental factor that has shaped money and everyday transactions, this book explores the socio-cultural history of paper money in India, tracing its journey from the 1770s to the present. Bringing together aspects of finance, history, public policy, philosophy and art, this study looks at the changing roles, systems and iconography of currency as it responded to the demands of civic life, governance and modernity. Even as the book engages with the past, its eye is on contemporary debates and innovations that seek to radically impact the way in which we will deal with money in the future. Bazil Shaikh, author and former central banker, has worked in areas spanning trade, exchange rate management, rural development and governance, amongst others. He headed the team which conceived, researched and curated the RBI Monetary Museum, Mumbai. His major publications include “The Paper and the Promise” and “Mint Road Milestones: RBI at 75”.<br/> |
