To convert amount in INR to words using formula.
Created a custom field.

And enter the below given formula in the default value field.
'RUPEES' || ' ' || CASE WHEN {custbody_amount_in_inr}=0 THEN 'ZERO' ELSE TO_CHAR(TO_TIMESTAMP(LPAD(TRUNC({custbody_amount_in_inr}, 0), 9, '0'), 'FF9' ), 'FFSP') ||' ' || (CASE WHEN {custbody_amount_in_inr}-TRUNC({custbody_amount_in_inr}, 0) > 0 THEN ' AND ' || (CASE WHEN LENGTH(TO_CHAR(REGEXP_REPLACE({custbody_amount_in_inr}, '^[0-9]+.', ''))) = 1 THEN TO_CHAR(TO_DATE(TO_CHAR(TRUNC(REGEXP_REPLACE({custbody_amount_in_inr}, '^[0-9]+.', ''), 0)*10),'J'),'JSP') || ' PAISA' ELSE TO_CHAR(TO_DATE(TO_CHAR(TRUNC(REGEXP_REPLACE({custbody_amount_in_inr}, '^[0-9]+.', ''), 0)),'J'),'JSP') || ' PAISA' END) ELSE ' ' END) || '
' END
