Disgracefully dismiss money: that is, rupees (7)
I believe the answer is:
cashier
'disgracefully dismiss' is the definition.
(to cashier is to dismiss from the army in disgrace)
'money that is rupees' is the wordplay.
'money' becomes 'cash' (I've seen this before).
'that is' becomes 'ie' (synonyms).
'rupees' becomes 'r' (abbreviation for rupees).
'cash'+'ie'+'r'='CASHIER'
(Other definitions for cashier that I've seen before include "Dismiss (someone) from the armed forces in disgrace" , "Dismiss; receiver and payer of money" , "banking officer" , "person taking the money" , "Remove from service" .)