As you reach any international airport of India and leave the customs area you can find currency exchange booths. One thing to take note of is that you may not be allowed to enter again to exchange the currency once you stepped out of the airport. Jotted down are some important points to keep in mind when exchanging currency in India.
Always collect your receipt for currency exchange as this shall help you in proving your source of funds in India. The receipt will also help in knowing the rate of exchange you were given. And when you will head back home you will be able to reconvert the left amount to your own currency by showing the receipt.
Only exchange your currencies from authorized dealers like Thomas Cook and American Express. Also buying foreign currencies from unauthorized places is an illegal act.
Make sure that you are not handed over fake currency notes, especially of heavy amounts such as INR 100, INR 500 and INR 2000.
Try to protect yourself from fraud cases. There are many scams in which foreigners are offered an attractively lesser rate of currency exchange. As a matter of fact, banks offer much lower price than local money exchangers.
Indian currency notes printed before 2005 are no more acceptable since 1 January 2015. If you have such old notes, you can exchange them for the same value in an Indian Banks as soon as you can.
Foreign visitors have to buy train tickets using foreign currencies if they do not have proof receipt of currency exchange. Otherwise in case of possession of proof you can buy the train tickets of tourist quota using Indian currency easily.