Responses to requests for an exchange ranged from surprise to reluctance to amusement. Consider the Parliament Street branch of the State Bank of India, for instance. Below a board announcing `soiled notes exchange counter', this reporter witnessed a long queue of teenagers waiting patiently for their turn.

But not to exchange soiled or torn notes, it turned out. What was being deposited instead were admission forms of management schools for common admission tests.

When asked to exchange two notes of Rs 50 denomination, the cashier at the bank said the facility was not available any more.

``A person used to change them till last month, butnot now,'' he explained. When this reporter insisted that he change it, the cashier asked, ``Do you have an account here?'' On getting a reply in the negative, the matter was abruptly dropped.

RBI had, in 1975, framed the Reserve Bank of India (Note Refund) Rules, prescribing the circumstances, conditions and limitations subject to which the value of lost, imperfect or mutilated notes could be refunded, says an official release.

In 1980, with a view to facilitating customer service, the premier bank simplified these rules.

Under the rules, all branches of public sector banks were authorised to freely exchange soiled and slightly mutilated notes.

The Reserve Bank has also asked the public sector banks to offer the facility of exchange not only to their customers but also to others.

Inside the Reserve Bank of India building in New Delhi, an official notice board announces: ``Members of the public are requested to avail themselves of full exchange facilities in respect of defective notes from selectedbranches of public sector banks.