The Indian currency is the Indian rupee. Now in India, banknotes in denominations of 1000, 500, 100, 50, 20, 10 and 5 rupees, coins in denominations of 5, 2 and 1 rupees are in circulation. Paisas (like our pennies) 50, 25, 10, 5, 2 and 1 are no longer used and are suitable only for souvenirs, although coins of 50 paisa are still officially in circulation.

When you change money in India, ask for part of the amount to be given to you in small denominations of 50-100 rupees. Otherwise, you won’t have problems with delivery. In India, it is still customary to staple counted and bandaged bundles of money with a stapler. Do not be surprised. If they give you such a pack, ask them to remove the paper clips and look at the bills. Heavily damaged banknotes should be exchanged. Money, of course, must be counted without leaving the cash register.

You can exchange currency for rupees at exchange offices. As a rule, in all tourist cities in the vicinity of hotels there are quite a lot of such exchanges. Exchanges are always available at international airports, but the rate there is usually very extortionate. Exchanges are easy to find by the signs “Money Changer”, “Excange”, “Curency excange”, “Forex”, etc. It is better to ask the staff of the hotel where you are staying about where to exchange currency. In non-tourist places, you can exchange currency at bank branches. Sometimes you may need your passport or a photocopy of it to exchange currency. You should not use the services of individuals who may offer you to change the currency to rupees. It’s illegal and can get you in trouble. In addition, you run the risk of encountering scammers and scammers. Citizens of India are prohibited from using foreign currency and even keeping it.

Usually only one exchange rate is indicated in exchanges. All buying and selling transactions take place at this rate, but you pay a commission. As a rule, this commission is 3%. In special places, like airports, the commission may be higher.

In India, there are no problems with exchanging US dollars and euros, as a rule, you can exchange British pounds. Other currencies are changed only in banks, only on condition that the bank has the appropriate license, and at a predatory rate. In other words, it makes sense to bring only dollars and euros to India, preferably dollars.

When exchanging currency or withdrawing money from an ATM, be sure to take a receipt. You may need this receipt for certain purchases and exchange of rupees for other currencies, if at the end of the trip you have unspent rupees. You can exchange rupees for currency upon presentation of a passport and receipts for exchanging currency for rupees or checks from ATMs in an amount not exceeding that indicated on the receipts and checks.

You can bring money in cash and on cards. You shouldn’t even think about traveler’s checks – this is an atavism. Traveler’s checks are hard to change, there are high commissions for transactions with traveler’s checks, and finally, it’s just stupid. It is most convenient and safest to carry money on cards and cash for emergencies. In almost all places where you will be in India, there will be no problems with ATMs and cards. However, it is worthwhile to sort out the cards before the trip and prepare properly. So.

You need a card with a class not lower than Visa Classic and Mastercard Standard. Before traveling, you need to check with your bank whether your cards are serviced abroad and what needs to be done to allow service. You will most likely need to inform your bank of the date of travel and the country you are going to.

In some places in India, ATMs only accept Visa or Mastercard. Therefore, it is advisable to have cards of both systems. In any case, it makes sense to carry a few cards with you – anything can happen.

When traveling, chip cards are preferred. It is impossible to use such a card in terminals without a pin code. In case of loss of the card, it is worth remembering the phone numbers of the call centers of your banks in order to immediately block the cards.

Indian ATMs are arranged differently. Some work like ours – you insert a card, and it is inside the ATM until all transactions are completed. Some return the card after a few seconds and it has to be pulled out. In some ATMs, you need to insert the card all the way and, after waiting for the instructions on the screen, remove it. In these ATMs, the card is inserted not completely. As a rule, Indian ATMs are installed in special boxes and there is a security guard nearby. You should not use ATMs unless they are closed and there is no policeman nearby. Indian ATMs do not always say what type of cards they accept. Before inserting a card, ask the guard if your type of card is accepted here. There are quite a few ATMs in India that serve only domestic Indian cards, as a rule, they are green. When you receive cash from an ATM, be sure to take a check. It makes sense to always keep checks from ATMs and exchange receipts until the end of the trip.

When using an ATM, carefully read the message on the screen before entering the PIN code. Some banks charge an additional fee, in particular, a fee for accessing a foreign account. As a rule, this commission is 200 rupees. In these ATMs, you will first be asked to pay 200 rupees for access to the account and then re-enter the pin and withdraw money. For example, this is what HDFC Bank does. ATMs with such a logo should be avoided, although most likely they will persistently offer you exactly them. When there was a queue at the HDFC ATM in Anjuna, and there was no one at the nearby Axis ATM, I asked the guard if it was working, the guard nodded. “But why is there a queue for that one, he takes an extra 200 rupees?” The guard smiled and winked in response. I do not rule out that HDFC pays agency fees for naive fernags.

You can withdraw money from a card without an ATM at many exchange offices, in tourist places like Goa – in all. This service is called Cash Advance. It happens the same way as buying in a store with a card. Your account is deducted from your specified amount in rupees, you sign the check and receive cash. At the same time, a commission for the service from 1.5 to 5% is withheld from you.

Banks of India

Banks of India в большинстве своем работают по будням с 10:00 до 14:00, а в субботу с 10:00 до 12:00. Some branches of Indian banks in major cities are also open on Sunday. On June 30, December 31, as well as on national holidays, all banks in India are closed.

Major banks in India

The State Bank of India is the largest state bank network in India with over 15,000 branches in the country and abroad.

Bank of India is India’s leading state-owned banking network with over 3,100 offices in all states of India, as well as branches around the world.

The Bank of Baroda is one of India’s leading international banks with over 3,000 branches spread throughout the country.

The Federal Bank is the largest private bank in India.

ICICI Bank is the second largest private bank in India with over 2,000 branches and 5,000 ATMs across the country.

Axis Bank is one of the largest ATM networks in India.

To transfer money from India to Russia You can use bank transfer. To do this, it is necessary that you and the person to whom you are sending money have an open bank account. True, for this it is necessary to know not only the account number of the addressee, but also the full name of the bank. Having filled out all the required documents for the transfer, the bank operator will confirm the sending of money to the specified addressee.