Dear Ashish,
Thank you for the Reply. The above they mentions about how to create the Local PSE's to generate certificate in Service Market Place.
Finally we have solved the problem in this way mentioned as below
1) Go to Transaction STRUSTSSO2-----Delete the Existing PSE Certificate in the certificate List
2) Next Right click on the System PSE -----You will get Delete option-----Delete it and then the same Rightclick and Create------Provide the SID of present System and save.
Thanks for Notes, Regards,
Harsha.