Currency for India. The official currency of India is the Rupee (INR) which is made up of smaller units known as paise (or paisa singular). 100 paise are found within 1Rupee and the currency is available in both notes and coins.
Note denominations are as follows: 10.00 Rupees, 20.00 Rupees, 50.00 Rupees, 100.00 Rupees, 500.00 Rupees and 1000.00 Rupees.
Coin denominations are as follows: 5 Paise, 10 Paise, 20 Paise, 25 Paise, 50 Paise, 1.00 Rupee and 2.00 Rupees.
As the INR is not a major currency, it may take longer for a money transfer to India to be completed. This will depend on a number of factors and individuals should consult with their broker to determine an estimated time frame. A currency transfer to India can be severely limited as it is impossible to legally obtain the currency outside of the country. Transferring money through the black market is illegal and it is therefore vital that anyone looking to transfer money to India consults a broker to help them manage the transaction.
Banks - Monday-Friday: 1000hrs to 1400hrs. - Saturday: 1000hrs to 1200hrs.
Banks may be closed during some religious holidays and it is therefore advisable to check this information prior to your visit. When in India it is also advisable to refuse to accept torn notes and to exchange currency in small denominations.
Indian Banks will typically accept both credit cards and travellers' cheques when exchanging money. Travellers' cheques are widely accepted with banks and hotel but it will typically be easier to exchange those which are in either US Dollars or sterling currencies.