India's currency is the Rupee, abbreviated as Rs. One Rupee is equal to hundred paise. Notes are in denominations of 1, 2, 5, 10, 20, 50, 100 and 500. Coins start at 10, 20, (not used so much these days) 25, 50, paise and 1, 2, and 5 rupees.
Do not accept torn or disfigured notes as these may not be accepted. In case you do get torn notes you can change them at the Reserve Bank of India or other National banks.
It is advisable to carry a mixture of cash and traveller's cheques to guard against any situation. US dollars, Euros and Sterling Pounds are the easiest currency to change with. Other hard currencies such as Yen, Swish Francs, Canadian Dollars, Singapore Dollars can also be changed in tourist areas and big cities. A currency declaration form has to be filled out by the tourists if they enter the country with US$10,000 or its equivalent in any other currency.
A growing number of hotels, restaurants and shops are beginning to accept credit cards, the well known and more accepted ones being American Express, Master cards, Diners Club and Visa.