How Do I Use YES Transact Smart Trade (Trade on Net) for Exports and Trade Finance?

What is YES Transact Smart Trade and where is the Trade tab in Corporate Net Banking?

Yes Bank's own FAQ defines it plainly: Smart Trade is a secure platform for initiation of trade transactions online which is housed within Corporate Net Banking (CNB). There is no separate Smart Trade website or separate login. You log in to CNB with your usual corporate credentials, click the Trade tab on the CNB homepage , and you are redirected into the Smart Trade portal to initiate transactions.

The bank uses two names for the same thing. The current brand is YES Transact Smart Trade , but the FAQ PDF is titled "FAQs on YES TRANSACT Smart Trade (Trade on Net)" and the onboarding forms are still named "Set up form for Trade on Net". If your RM says Trade on Net and the website says Smart Trade, they mean the same module.

Source: Yes Bank's Smart Trade FAQ (PDF) and the official Smart Trade product page .

How do I register for Smart Trade (set-up form, board resolution, proprietor and partnership letters)?

Smart Trade onboarding is paper-based. Per the bank's FAQ (Q6), the set-up sheet along with a Board Resolution needs to be submitted at the branch or to the Product Sales Manager / Relationship Manager . Which forms you need depends on your entity type and whether you already have CNB access:

All of these formats are hosted on the Smart Trade page on yesbank.in. The set-up forms, both board resolution variants, the sole proprietor letter and the partnership letter. After registration you receive an auto-mailer with your user id details, the products offered and tech-support contacts (FAQ Q16). Once live, checkers/authorisers must have a two-factor security feature (challenge response or I-AM) active on their login ids; makers do not need it (FAQ Q11).

How do I issue or amend an LC and a bank guarantee online in Smart Trade?

LC and BG issuance/amendment are Smart Trade's best-documented capabilities. The FAQ lists both as live modules, and the common functionality set (FAQ Q7) is built around them: beneficiary masters, clause templates for LCs/BGs, data templates for repetitive transactions, draft LC generation in SWIFT mode before submission, partial save, and document upload (xls/pdf/word/doc/text, under 3 MB per file). You can retrieve the LC draft in MT700/MT707 format before it goes to the bank. Useful for getting beneficiary sign-off on wording before issuance.

For repetitive or high-volume work, Smart Trade documents three bulk upload functions (FAQ Q16):

A Mumbai exporter-importer needs a USD 60,000 sight LC in favour of a Shenzhen component supplier. The company is already onboarded to Smart Trade with one maker and one checker (checker has 2FA active). Every step below is drawn from Yes Bank's Smart Trade FAQ (Q2, Q3, Q7, Q8, Q9, Q12). </> } result= >

1. Maker adds the beneficiary in Beneficiary Masters (or picks an existing entry from the beneficiary repository).
2. Maker opens the LC issuance module , fills the LC using a saved data template and clause templates for the standard conditions, and attaches the proforma invoice (upload supports xls/pdf/word/doc/text under 3 MB).
3. Maker generates the Draft LC in MT700 format and shares it with the supplier for wording confirmation before submitting. The FAQ's "online retrieval of LC draft in MT700/MT707 format before submission to bank".
4. Maker submits to the verifier; if a discrepancy is found in the request data, the Modify function lets the maker correct it. Partial Save can park the transaction overnight.
5. Checker authorises with 2FA under the group authorisation matrix; the request letter and import declarations are auto-generated by the portal (FAQ Q8), and email alerts confirm initiation and processing.
6. Both sides track it : real-time limit utilisation was visible at initiation, and the issued LC appears in the "LCBG issued" and LC outstanding reports.

How do I get an e-FIRC or FIRA from Yes Bank?

This is the highest-searched Yes Bank trade query, and the honest answer is: no official Yes Bank page documents a self-serve FIRA or e-FIRC download from Smart Trade . What the portal does document is a report called "Outstanding e-FIRC details pertaining to YBL" in the IDPMS & EDPMS report group. A status report that tells you which inward remittances have e-FIRC entries outstanding, not a button that produces the certificate.

In practice, the working path is:

• Use the "Outstanding Inward Remittance pertaining to YBL" and "Outstanding e-FIRC details" reports to see what the bank has on record.
• Request the FIRA / FIRC document itself from your branch or relationship manager , quoting the remittance reference and date. Under the YES FIRST Business schedule (effective 5 August 2024), FIRC issuance is listed as Free .
• For eBRC, since DGFT's 2023 revamp the certificate is self-certified by the exporter on the DGFT portal from bank-reported IRM data. The bank does not issue it. Yes Bank's schedule lists e-BRC charges as Free. See our eBRC filing guide for the DGFT-side process.

Not sure whether you need a FIRC, FIRA or eBRC in the first place? See FIRC vs BRC explained and how FIRA download works across providers .

How do I track EDPMS outstanding shipping bills and pull Trade MIS reports?

Where Smart Trade genuinely helps exporters is visibility. The "My Space" section of CNB carries a full trade MIS suite, and the IDPMS & EDPMS report group gives you the bank's view of your regulatory position. The same data your branch would read out over the phone:

The "Outstanding Shipping Bill pertaining to YBL" report is your EDPMS early-warning system: it shows shipping bills the bank still counts as unrealised. Reconcile it monthly against your own shipment and remittance records. The mechanics of what EDPMS tracks and how entries close are covered in our EDPMS reporting guide .

How do direct import payments against a Bill of Entry (IDPMS) work in Smart Trade?

The import side is where Smart Trade is most complete. The FAQ lists an IDPMS module (integration with RBI portal) for direct import remittance among the live products, and the product page describes direct import payments integrated with the IDPMS portal. Paperless, for selective corporates. The flow the official documentation supports:

• Initiate the import remittance in the Remittance module (A1), referencing the Bill of Entry; the portal auto-generates the request letter, Form A2 and import declarations (FAQ Q8).
• Use the "BOE pending (outstanding with bank for submission)" report to see which Bills of Entry the bank is still waiting on, and "Payment Pending (IDPMS report)" for unpaid imports.
• No original documents need to be lodged at the branch for transactions processed online, except where a regulator requires originals (FAQ Q12).

Which trade tasks work in Smart Trade and which still go through the RM or branch?

This is the section to read before you promise your team that "it's all online now". The table below records only what Yes Bank's official documentation supports, as read on 15 August 2026. Portal means the capability is documented on an official page; Confirm with RM means no official evidence exists either way. Not that the bank cannot do it.

Smart Trade is an initiation-and-visibility portal: issue and pay through it, watch everything through it, but treat certificates, closures and FX dealing as RM/branch conversations armed with the portal's own reports. </> } />

What do these tasks cost at Yes Bank?

Portal usage itself is free per the FAQ, but the underlying trade services are priced. The rows below are transcribed verbatim from Yes Bank's published Schedule of Charges. Trade Finance & Remittance Services (YES FIRST Business programme) , as published, effective 5 August 2024 (read 15 August 2026). Charges are exclusive of taxes and subject to change at the bank's discretion.

What should be on my Yes Bank Smart Trade onboarding and export compliance checklist?

Onboarding (one-time)

• Download the correct form set from the Smart Trade page: set-up form + board resolution (corporate), partnership letter + deed (firm), or proprietor declaration
• Decide CNB scope up front (transaction access, view-only, or Smart Trade without CNB access) and pick the matching form variant
• Submit the pack at the branch or to your Product Sales Manager / Relationship Manager
• Activate 2FA (challenge response or I-AM) for all checkers. Mandatory for authorisers, and it enables online password reset
• Confirm receipt of the auto-mailer with user ids, and save the tech-support contacts (Corporate.TechSupport@yesbank.in, 18001023357)
• Set up beneficiary masters, clause templates and data templates before your first live LC or BG
• Ask your RM, in writing, how to route the undocumented tasks: export bill lodgement, inward remittance disposal, FIRA/e-FIRC requests, and EDPMS closure submissions

Recurring export compliance (monthly)

• Pull "Outstanding Shipping Bill pertaining to YBL" and reconcile against your shipment register. Every open entry is a future realisation or write-off conversation
• Pull "Outstanding Inward Remittance" and "Outstanding e-FIRC details" and request FIRA/FIRC documents from the branch for the period's credits
• Watch the FEMA clock: export proceeds must be realised and repatriated within nine months from the date of export (RBI Master Direction 16/2015-16, para A.2(i)). This applies to all exporters including SEZ/EOU units; the 15-month window exists only for goods exported to a warehouse outside India
• Chase EDPMS/IDPMS overdue items before month-end. The published penal charge is Rs. 1000 per overdue bill per month on each of EDPMS shipping bills, EDPMS IRMs, IDPMS BOEs and IDPMS ORMs
• Self-certify eBRCs on the DGFT portal for the month's realised shipping bills once IRM data is reported
• Verify BOE-pending and Payment-Pending (IDPMS) reports and submit any Bills of Entry the bank is still waiting on

Update history

• 2026-08-18 First published.