Rules and Procedure for Depositing Old Currency of Rs. 500/- and 1000/--into Banks
If you have old currency of Rs. 500/- and 1000/--, no need to panic if it is accounted money. Older notes can be deposited in bank accounts till 30th December, 2016. If an individual is unable to deposit it in bank account by 30th December, an opportunity will be given to individual to deposit it at specified offices of Reserve Bank of India (RBI) till 31st March 2017.
If your Know Your Customer (KYC) is complete, you can deposit any amount and any number of times, but if your KYC is not complete then only maximum of Rs. 50,000 can be deposited in one working day. Old currency of Rs. 500/- and 1000/- can be deposited in any bank account with banking procedure and valid ID proof i.e. copy of PAN card.
If your branch manager is refusing to deposit your currency, just frame an application in this regard and ask the branch manager to give his remarks. I am 100% sure, instead of giving remarks on your application branch manager will deposit your currencies.