Google quietly announced in the Google AdSense Help forums that they are now extending their beta program for publishers in India to get paid via wire transfer over check.
In fact, Google said they will be completely "replacing cheque payments with U.S. Dollar international wire transfers" in India. Google said that during the beta the publishers in India reported favorable rates claiming typically Rs. 56/- to Rs. 110/-, approximately $0.90 to $1.78 and favorable exchange rates on these transactions. Plus, you won't have to go to the bank to do the deposit.
Over the coming weeks, we’ll be upgrading accounts in India with a payment self-hold to our new payments system. To be eligible for this month’s payment cycle, please make this preference change prior to Sunday, 16 March, 06:00 (AM) IST.
There are a lot more details on what this means to Indian based publishers in the Google AdSense Help thread.
Forum discussion at Google AdSense Help.