Yes, when I looked into it before my trip, I found that the rules on taking rupees in and out of India changed in 2014, and you are allowed 25,000 rupees per person. It used to be a 'closed' currency, and two years ago become a 'semi-closed' currency (with banks in Canada quite happy to exchange both directions - until earlier this week, of course!) They cannot exchange true 'closed' currencies.