The primary dealer in G-Secs would also start internet trading in debt papers and provide updated debt market information through its website `sbigilts.com' on a daily basis, SBI Gilts chief executive officer RC Royappa told reporters during the inauguration of a branch here on Monday. SBI chairman Janaki Ballabh inaugurated the company's first branch in Delhi, which is expected to post a turnover of Rs 1,000 crore this fiscal. The moves are part of the plans to expand the gilts business, which is expected to be around Rs 18,000 crore this fiscal despite a four month lean season when the rupee value would be unstable, Mr Royappa said. Last year, SBI Gilts' turnover was Rs 18,722 crore and profit before tax was Rs 50.34 crore.

He said the company would also provide intra-day quotes after the market develops. Mr Royappa, also the Primary Dealers Association president, said the retail trade would be initiated after the setting up of a clearing house for government papers. SBI, along with HDFC, ICICI and IDBI, is expected to come up with a clearing house by the end of this fiscal and become operative by the first quarter of next fiscal.

Currently, the Reserve Bank is trying to push the idea of retail trade in debt through the country's two major bourses- Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) - to boost the gilts market. There is currently no system to provide screen-based trading for G-Secs, he said and added that the primary dealers are in dialogue with NSE and BSE to provide such trading system to extend gilts trade to small investors also. Once the clearing house comes up.

The company could provide intra-day quotes of G-Secs prices and their yields. SBI Gilts was incorporated in 1996 by SBI with about 60 per cent stake, SBI Caps and associates 15 per cent and Asian Development Bank (ADB) holding the remaining 15 per cent, with an initial equity of Rs 100 crore. The net worth of the company is currently at around Rs 165.26 crore.