In a very unwelcoming notification that we have received from the government says that you won't be able to deposit large amount of banned currency notes with the Reserve Bank of India as it would attract heavy penalty.

However, a few demonetized currencies can still be deposited in your accounts with RBI till 31.3.2017. According to our sources holding old notes in bulk will find it very difficult to deposit them with RBI after Dec 30.

Further, if one wants to use the old notes (in bulk amount) the window for this effectively closes Dec 30 because after this date the notes might not be allowed to be used to avail the new black money scheme either or for that matter in any other monetary transaction.

The government's notification pertaining the news is likely come either today or before 30 December imposing penalty on holding large amounts of the old notes after Dec 30. 

Interestingly, while the prime minister, in his speech on November 8, had said that people would be allowed to exchange/deposit old notes with specified offices of RBI till 31.3.2017, this date has not been stated in writing in any of the notifications/circulars issued by the government or RBI.