``Lot of work has been done on the equity side. Now we want to look at other areas as well. Government securities is one of them,'' managing director of NSDL, C B Bhave, told PTI here.

Bhave said NSDL is also looking at the area of dividend distribution to shareholders. ``We have already conducted a pilot study. We will probably be conducting one or two more studies in order to get a complete hang of the situation, and make it a regular scheme in the next year,'' he said.

Bhave said Pune Stock Exchange had applied to join NSDL as depository participant (DP) and indicated that it would become one in two months' time after completing certain formalities. He noted that last month Ahmedabad Stock Exchange had joined the NSDL, becoming the tenth exchange in the country to doso.

The number of accounts held by the NSDL was projected to go up to 15 lakh by the end of the year, and to between 25 lakh and 30 lakh by the end of next year, from the present figure of 12.5 lakh, Bhave said. ``We are seeing a lot of enthusiasm among DPs to open services from various centres including in the North-East,'' he said.

Responding to questions, he noted that at present the government securities market was essentially banks, institutions and provident funds. ``We feel that this market needs to go to retail as well... and even RBI thinks that way,'' Bhave said.

``I think in the coming days, we will see a thrust towards making this facility available to retail investors,'' he forecast. Earlier, Bhave addressed a seminar on `depository services to PF trusts', organised by the Vyasya Bank Ltd.