As per the latest information, you can deposit your old 500/1000 Notes even after 31 March, 2017.

Five banks in India have been specially assigned the task of accepting your notes for as long as it is needed.

No ID proof will be asked too.
No source of income.

The five banks are:
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banks of Yamuna
banks of Ganga
Banks of godavari
Banks of Krishna
And banks of kaveri.
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