You best option as an Indian is to apply for a Thai visa at the Thai Embassy in India before you arrive in Thailand. The first question is simply no. According to Thai Airways the immigration service in Thailand will only accept US Dollars or Thai Baht as proof of funds when entering Thailand. Note the table below from Thai Airways for their clients in Sri Lanka and India.
It is advisable that all visa applicants must possess a minimum amount of money while entering Thailand according to the type of visa as follows
- Individual: Thai or foreign currency equivalent to 10,000 baht (US$ 300)
- Family: Thai or foreign currency equivalent to 20,000 baht (US$ 600)
Tourist Visa/Non – Immigrant Visa
- Individual: Thai or foreign currency equivalent to 20,000 baht (US$ 600)
- Family: Thai or foreign currency equivalent to 40,000 baht (US$ 1200)
Those who fail to show the required amount of money to the Immigration Officers, if asked, may be refused entry to the country.
Update : September 2014 : New Visa Rules