As you arrive at any international airport of India, and before you leave the customs area, you may exchange currency at the currency exchange booths which you find inside the airport. Make sure that you make currency exchange when you are inside of the airport, because as you walk out of the airport, you may not be allowed to enter again to the exchange booths for currency exchange. Here are some important points to keep in mind when exchanging currency in India.
You have to exchange your foreign currency only at the authorized dealers like Thomas Cook outlet or American Express. Banks are also authorized to deal with foreign exchange.
Be sure that every time you collect your receipt for currency exchange that helps to know the exchange rate and will be as a proof of the source of your funds in India. This receipts helps you in reconverting back the Indian currency left with you to foreign currency again at the airport.
Be aware that you have not received any fake currency notes of 500 rupees notes and 1000 rupees notes.
You may get offers from others for a better currency exchange, but be aware of such fraud things. Do not exchange your currency from the local exchangers. Buying this from unauthorised dealers is also illegal act.
Indian currency notes printed before 2005 are not accepted from 1st January 2015. If you have any such old notes, then you can exchange them at Indian Banks as soon as possible.
So tourists, make sure that you do not accept any Indian currency notes that do not have the year of printing that is visible on the reverse side of the note.
During the purchase of train tickets, show the currency exchange receipt so that you will be able to buy the tickets in Indian rupees. If not you have buy them in foreign currency only.