In Parbhani, specialized foreign exchange counters are not as common as in major metros like Mumbai or Pune. However, tourists can still easily manage currency exchange through a mix of nationalized banks, gold finance companies, and international money transfer agents.
Here is the definitive guide to getting Forex and Currency exchange in Parbhani:
1. Nationalized & Private Banks (Most Secure)
For the best exchange rates and legal documentation, head to the main branches of major banks. They generally handle USD, EUR, and GBP with ease.
- State Bank of India (SBI), Main Branch: Located near the District Collector’s Office. It is the most reliable place for foreign travelers.
- HDFC Bank & ICICI Bank: Located around Station Road and Shivaji Road. They offer Forex services but may require you to have an account or provide extensive travel documentation (Passport & Visa).
- Bank of Maharashtra: Another reliable local option with multiple branches in the city.
2. Gold Finance Companies (Fastest Service)
Non-Banking Financial Companies (NBFCs) in Parbhani are often faster than banks for currency services and have more flexible hours.
- Muthoot Finance / Muthoot Fincorp: They have a strong presence on Station Road, New Mondha. They are authorized to handle foreign exchange and are generally more tourist-friendly for quick cash.
- Manappuram Finance: Located in the New Mondha area, they also provide Forex and money transfer services.
3. International Money Transfer Agents
If you need to receive money from abroad or exchange small amounts of cash, these authorized agents are your best bet:
- Western Union: There are multiple outlets, notably in Vakil Colony and Roshan Khan Mohalla. These are often located inside multi-service centers (Maha E-Seva Kendras) or travel agencies.
- MoneyGram: Available at various “Multi-services” shops near the Parbhani Railway Station and Bus Stand Road.
4. Travel & Forex Agents (Specialized)
While most local travel agents focus on ticketing, a few are connected to larger Forex networks like Thomas Cook or EbixCash.
- Patne Tours and Travels: Located in New Mondha, they can often facilitate or guide you to the nearest currency specialist.
- Saikrupa Multi Services: Located opposite the Bus Stand, they are a well-known hub for various financial and money transfer needs.
Essential Checklist for Tourists
To ensure a smooth exchange process, always carry the following:
- Original Passport: Mandatory for all foreign nationals.
- Valid Visa: Proof of legal entry into India.
- Aadhar/PAN Card: If you are an Indian citizen returning from abroad.
- Proof of Arrival: Occasionally, they may ask to see your boarding pass or entry stamp.
Pro-Tips for Visitors:
- Avoid Local “Black Market” Dealers: Stick to authorized dealers (look for the RBI License) to avoid counterfeit notes and ensure you get a valid encashment certificate, which you’ll need if you want to convert INR back to your home currency when leaving India.
- ATM Withdrawals: Most ATMs in Parbhani (SBI, HDFC, Axis) accept international Visa and Mastercard. This is often the most convenient way to get cash at a fair exchange rate without visiting a counter.
- Hours of Operation: Banks are closed on 2nd and 4th Saturdays and all Sundays. For weekend emergencies, Western Union outlets and Muthoot Finance are more likely to be open.