India has discontinued (banned) two largest rupee notes of 500 and 1000 on 9 November 2016. The Narendra Modi Government has made a big move against corruption (black money).
How to deposit or exchange my old 500 and 1000 rupee notes
You can deposit your 500 or 1000 rupee notes at your nearest bank or post office accounts. From 10 Nov 2016 till december 30 Dec. 2016 you can exchange or deposit your old currency notes. Initially Exchange limit will be 4000 rs. You need to show your Identification Proof during this process.