"We are trying to increase awareness in urban co-operative and district central co-operative banks through an educational programme to tap the retail market for government securities," STCI managing director RV Joshi said.Mr Joshi added, "We are keen on broadening and deepening the goverment securities market throughout the country. As of now, there is a lack of information and awareness about the market and we want to increase the same."

STCI is also in talks with trustees, provident funds, non-banking finance corporation and high networth individuals. It has held exploratory talks for tie-ups with commercial banks, and satellite dealers through the medium of Internet.

Mr Joshi said that Bank of India (BoI) and the State Bank of India (SBI) group have already been sounded off. BoI and the SBI group (SBI and its seven associate banks) hold 14.41 per cent and 12.46 per cent respectively in STCI.

STCI's core activity is that of a primary dealer (PD) in gilts, but it has plans to diversify its portfolio into fixed income instruments of financial institutions and public-sector bonds. Till date, investments worth Rs 500 to 600 crore have been made in these bonds.

"We also plan to provide investment advisory services for gilts securities and other debt investments," Mr Joshi said.

STCI is the country's largest PD amongst the 15 PDs licensed by the Reserve Bank of India. Its objective is to foster the development of an active secondary market for goverment securities and PSU bonds and to make these markets more liquid and deep. STCI reported Rs 114 crore in profit after tax and a net worth of Rs 651 crore during the fiscal 1999-2000.Stock-in-trade stood at Rs 2,767 crore.

In 1999-2000, its performance on the bidding front (dated-stock) stood at 47.44 per cent as against the minimum success ratio requirement of 33.33 per cent.