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.

Money

India'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 Regulations

Foreign 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 Regulations

All 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.