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The Indian currency is the Rupee and it is a fully
convertible currency. The Rupee notes are available in
denominations of 500, 100, 50, 20, 10, 5, 2 and 1. Coins
are available in the denominations of 5, 2, 1 (rupee)
and 50 and 25 paise.
Foreign Exchange
Foreign exchange/currency brought into India must be
declared at Customs should the value of foreign currency
notes exceed US$ 2,500 or the aggregate value of the
foreign exchange including currency notes exceeds US$
10,000 or equivalent. You can exchange money at
international airports where 24-hour exchange facilities
are available through banks and approved money changers.
You can also change money at nationalised banks and
other banks in the country.
Some of the larger nationalised banks include the State
Bank of India, Punjab National Bank, Punjab & Sind
Bank, Canara Bank, Allahabad Bank and Union Bank of
India.
International Banks:
You will find international banks such as ANZ Grindlays,
Citibank, Standard Chartered, BNP, Bank of America, Hong
Kong Bank and others in the major metros. Most of these
have 24-hour ATMs. American Express and Thomas Cook
offices may be found in major metros and tourist cities.
Banking Hours
Usual banking hours are 10 am to 2 pm on week days and
10 am to 12 noon on Saturdays. Please remember that not
all banks will exchange foreign currency or travellers
cheques - particularly in small towns. Most recognised
hotels will exchange foreign currency 24-hours but a service charge may be levied here.
Credit Cards
Well-known credit cards are widely accepted in India.
These may include Diners, Masters, Visa and American
Express. You will find that your credit card is handy
not only in paying your hotel bills and airfares, but
also in buying souvenirs in small boutiques in
out-of-the-way towns. Indian Railways also accepts
bookings with credit cards in metros. |
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