When you send money, the rate is only part of the cost. A transfer has three parts: a deposit fee, a conversion fee and a send fee. Grey shows each of them, plus the exact rupee amount your recipient receives, before you confirm.
The rate is only the first line of the bill. Grey adds a deposit fee, a conversion fee and a send fee, and shows each one before you confirm, together with the exact rupee amount your recipient receives. Grey pays out in rupees inside India, to a bank account number with its IFSC code or to a UPI ID.