'Space availability certificate not required for filing in-bond B/E'

The requirement of producing the space availability certificate for clearance of goods to be deposited in a bonded warehouse has been done away with

We are manufacturer-exporters of cotton yarn. We received an advance against exports but due to Covid-19, orders of our overseas buyer were cancelled by their buyer. He has requested us to refund the advance. We approached the RBI through our bankers to give permission to remit the advance received but RBI has not given it, despite a lapse of five months. Kindly guide us.

I believe you have approached RBI in accordance with the proviso to Para C.2 of RBI Master Direction no.16/2015-16 dated January 1, 2016 (as amended), which says that in the event of the exporter’s inability to make