Chennai, Feb 12: SBI Gilts Ltd, the primary dealer promoted by the State Bank of India, plans to aggressively target the southern markets for furthering its business. The primary dealer has entered into a relationship with SBI Capital Markets Ltd so that the latter's infrastructure and officers can assist SBI Gilts' customers in buying and selling government securities in Chennai. It is also planning to target cities such as Bangalore, Hyderabad, Ernakulum for business, managing director and chief executive officer of SBI Gilts RC Royappa said.
The outfit plans to target corporates, high net worth individuals and many other segments. Gilts carry no credit risk and give returns far higher than bank deposits, he added. Investment is possible for a period of one day to 20 years. Also, clients can enjoy the convenience of holding gilts in dematerialised form with SBI Gilts.
It has a website sbigilts.com, where information on gilts updated on a regular basis. The gilt trading volume at SBI Gilts ranges between Rs 200 crore and Rs 300 crore per day. The company has a paid-up share capital of Rs 100 crore with SBI contributing Rs 85 crore and AdB the rest.
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