Sorry to hear about your accident. I've been in a similar situation twice, and considering all options, I think it is best to let it go, if the damage is minor.
I know it doesn't seem fair if its the other guy's fault, but I feel there are very few options. You can -
1. Go to the police - they will most likely ask for a bribe which may cost you another 500-1000 bucks just for filing an FIR. After that there is a very long process to claim money from the other guys insurance, if he co-operates, else it may have to go to court.
2. If you get out of the car and fight to try and get money on the spot, you're taking a big risk - the other guy may be prepared to get very violent. Are you? This tactics only works for rickshaw and cab wallas when their comrades swarm the accident spot and threaten the other vehicle driver.
All in all, you did the most practical thing.
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