"We have signed memoranda of understanding with HDFC Bank, Centurion Bank, UTI Bank and Citibank for setting up payment gateways for making stock investment easy," senior vice-president Suprabhat Lala said.

"Net-based trading makes sense when the investor has the facility to make payment over Internet," he said.

The gateway set up by HDFC would be through in a couple of days and the one by Centurion Bank by another week. The rest would be through this month, he said.

The new offer would make Internet-based trading, which was yet to pick up in the country due to the payment handicap, and make investment in stocks more attractive, said Lala, here in connection with conducting of trading awareness programme among investors.

Geojit would charge 0.075 per cent for transaction which do not end up in delivery and for transactions that end up in delivery which would be 0.5 per cent. For NRI's, these rates will be 0.1 per cent and 0.75 per cent respectively.

Its operations, including validation would be done through the main server based at Mumbai, Suprabhat Lala said.

Geojit Securities, which had about 250 registered internet traders, had an average turnover of Rs 1 crore in this sector in the National Stock Exchange.Internet trading was getting good response from NRIs. ``Of the 250 investors, 200 were NRIs," he said.

Lala said Geojit was all set to increase itspresence in maximum citites in the country. Presently, it had centres in 45 cities in the country. Geojit was planning to have its presense in all important towns and also had six demat offices across the country, he said.

Lala said over 200 investors had opened account with Geojit Securities internet trading facility during the awareness programme here.

It is a joint venture between Kerala State Industrial Development Corporation and has membership in both NSE and BSE.