In any case, there are still places where the old currency notes are accepted, so don't rush to burn them. Here are places still accepting the old Rs 500 notes (I've edited this list to only show those of relevance to most foreign travellers, though the link is below if you want to see the full list):
Till the December 15, 2016, specified banknotes of only 500 denomination can be used as under:—
(b) at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tickets;
(f) for making payments in all pharmacies on production of doctor’s prescription and proof of identity;
(h) for making payments to catering services on board, during travel by rail;
(i) for making payments for purchasing tickets for travel by suburban and metro rail services;
(j) for making payments for purchase of entry tickets for any monument maintained by the Archaeological Survey of India.
(q) Payments towards pre- paid mobile top-up to a limit of ₹ 500 per top-up
(r) Toll payment at these toll plazas of the Ministry of Road Transport and Highways may be made through old ₹ 500 notes from 3.12.2016 to 15.12.2016 (as they have continued the toll free arrangement up to 2.12.2016)
Note that this applies to the old 500 notes only, not to the 1000 notes.
https://www.rbi.org.in/Scripts/FAQView.aspx?Id=119