Hit hard by rising bad loans, country's oldest financial institution IFCI has set an ambitious recovery target of Rs 600 crore for the current quarter as part of the exercise to strengthen its balancesheet. In the first 9 months of the current fiscal, the state-owned term lender mobilised about Rs 400 crore out of Rs 1,000 crore set for the entire fiscal. "We intend to achieve targeted figure as we have identified 2-3 asset sales during the balance period of this fiscal," IFCI Deputy Managing Director Sanjeev Kaushik told(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna February 12, 2017 08:12 UTC