Tourists are not allowed to bring
Indian currency into the country or take it out of the country.
Unlimited
amounts of foreign currency or traveller's cheques are allowed into the
country but any amount over US$ 1000 should be declared on arrival and a
certificate obtained from the Customs.
All money should be changed
at official banks or at official money changers. The tourist receives a
currency exchange form for each transaction. These forms are important as
they may be required for re-exchange while leaving India, for certain
official purchases such as airline tickets, for visa renewal and for
obtaining income tax clearance.
Most branches of State Bank of
India and all major nationalized banks have special foreign exchange
counters. Credit cards (like Diners, American Express) and Visa Card among
others ) are now widely accepted in India.
MoneyIndia's
currency is the Rupee, abbreviated as Rs. One Rupee is equal to 100 Paise.
Coins are in denominations of 10, 25 & 50 Paise & l, 2 & 5
Rupees. Notes are in denominations of Rs. 1, 2, 5, 10, 20, 50, 100 and 500.
Currency RegulationsForeign
Currency. It is advisable to carry a mix of cash and travellers cheques to
guard against any situation. US Dollars are the easiest currency to change
with pounds sterling coming a close second. Other hard currencies such as
Yen, French Francs, Deutsche Mark can also be changed in tourist areas and
big cities. There are no restrictions on the amount of foreign currency or
travellers’ cheques a tourist may import, provided a Declaration Form
is completed on arrival by the tourists if they enter the country with
US$10,000 or its equivalent in any other currency. This will facilitate the
exchange of imported currency as well as the export of unspent currency on
departure or for tax clearance certificates. Cash, bank notes and travelers’
cheques up to US$2.500 or equivalent need not be declared at the time of
entry. Any money in the form of travellers’ cheques, drafts, bills,
cheques, etc. which tourists wish to convert into Indian currency should be
exchanged only through authorised money changers.
Tourists are
warned that changing money through unauthorised persons is not only illegal
but also involves the risk of receiving counterfeit currency. To exchange
foreign money other than through banks or authorised money changers is an
offence. Please note that no Indian currency whatsoever can be imported or
exported, except for Rupee travellers’ cheques. Banks abroad do keep
Rupee balances with their agents in India and are able to draw upon these
balances to issue Rupee traveller's cheques to intending tourists. There are
24 hour exchange facilities available at all big cites and international
airports. Banking hours in India are from 10 a.m. to 2 p.m. (Mon.-Fri.) and
from 10 a.m. to 12 noon on Saturdays. One can also wire money into India.
These services are offered by foreign banks with branches in India and also
with Indian banks with branches abroad such as the State Bank of India, Bank
of India and Bank of Baroda.
A growing number of hotels,
restaurants and shops are beginning to accept credit cards, the well known
and more accepted ones being American Express, Access or Mastercards, Diners
Club and Visa.
Custom RegulationsAll
personal objects which are required in India are free from duty. Under this
heading fall personal jewellery, presents up to a value of Rs. 600, 200
cigarettes, 50 cigars and 0.95 l alcoholic beverages. Professional material
and articles which have a high value can only be imported duty free if the
traveller gives a written undertaking that these articles will be
re-exported.
Foreign
Missions/ Consulates in India..........Indian Embassy/ High Commissions 
