India 100 is cashless

Rupees, Travel Fund and Paying in India

The local currency is the Indian Rupee (INR). The smaller unit is the Paisa, where 100 paisas equals 1 rupee. The Indian currency may neither be imported nor exported, so it is best to enter and use the euro currency gets the rest of the travel budget at ATMs.

Rupees: bills and coins

There are notes in denominations of 10, 20, 50, 100, 500 and 1000 rupees. Occasionally there are also notes to the value of 1, 2 and 5 rupees. Coins start with a value of 5 paisas, then 10, 20, 25, and 50 paisas.

Import of foreign currency

Any amount of foreign currency can be imported, but must be declared on a special form (Currency Declaration Form) for a value of more than 2,500 US dollars in cash or for mixed currencies worth more than 5,000 US dollars.

Exchange rate rupees - euros

The euro-rupee exchange rate is around 1:80. For 80 rupees you get 1 euro.

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Taking cash to India

The euro is known everywhere in India as a means of payment and is just as accepted there as the US dollar. Because of the exchange differences, it is most practical to have the majority of the travel budget in euros. Exchange options can be found in international airports, banks, but also numerous hotels exchange money for their guests.

Currency exchange in India

Banks in India are mostly open Monday through Friday from 10:00 a.m. to 2:00 p.m. There is also the possibility to exchange the money in exchange offices. However, only authorized money exchange offices can exchange foreign currency for rupees. The exchange receipts should definitely be kept. An exchange of unused rupees is only possible with such a receipt when leaving the country.

Credit cards in India

Many places, especially large shops and hotels, accept major credit cards (MasterCard, Visa, etc.), but hardly outside of the big cities. There are ATMs in major cities in India, called ATMs, and they work amazingly well. EC cards are accepted - the card must have the “Maestro” symbol - but you should always travel with more than one card if one is not accepted at all.

The cost of a withdrawal depends on the respective German financial institution, but is around 3 to 5 euros. But Indian ATMs can also charge a fee for withdrawals (2 euros or about 160 rupees), so you shouldn't withdraw money in too many small amounts, whereby the maximum one-time payout amount is 10,000 rupees (about 125 euros). Daily travelers can withdraw up to 25,000 rupees (310 euros).

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If you want to withdraw money with your credit card, you may end up with nothing at local banks. You are on the safe side with a German credit card at the following banks: Citibank, HDFC, Axis Bank, IDBI, State Bank of India, ICIC, IndusInd or Kotak.

In addition, a credit card is always recommended for long-distance travel so that you can withdraw money abroad free of charge worldwide. Then you can withdraw daily amounts as needed and you have to travel with less cash. Before traveling to India, you should open an account with a free DKB credit card. Only a monthly payment of 700 euros per month is a prerequisite.

Change in India

In India it is a popular excuse not to have change, so it is advisable to give the exact amount when making a donation, otherwise the large bill will be withheld. Sometimes sweets are given as change. You should therefore have enough change with you, especially in the countryside and in smaller villages. Please also check the condition of the banknotes when changing money. Tattered and torn old banknotes are difficult to get rid of.

As a rule, the machine issues large bills. These should be exchanged for smaller bills in trustworthy restaurants and hotels so as not to have to rely on change in taxis or smaller vendors.