Check this. Prices from Mysore.
Nikon L1 with bill - ~16.5k
Nikon L1 grey - ~9.5k; 2.5k more and i'll get 2 cameras!!! :rofl:
But thing is the cameras from nikon n canon have good build quality. U dont use a digicam everyday (may be in the beginning u will, but it'll wear off soon) like u wud use a mobile phone, so the chances of a camera breaking down are quite low, IMO. I've been using a Fuji S5500 (bot from JJmehta, without bill) for a year and half and its still going gr8.
Somehow i dont feel it is justified to pay almost double for a Nikon to get local warranty. On the other hand Canon is quite VFM with bill/local warranty. Also, JJMehta provides 3-month warranty which should be good enough. If a cam doesnt break in the 1st 3 months, chances of it going kaput (unless u break/mishandle it) are very low, IMHO. its upto u to decide whether u want warranty or u r willing to take that risk.