IFCI claims ratio of its gross NPAs to gross advance is 28 per cent, but this could actually be nearly 40 per cent.Over 70 per cent of funds mobilised by IFCI is being used to repay earlier borrowings. IFCI does not have a formal asset-liability management, even though it has a serious mismatch of asset-liability timeframes. Rs 5,000 crore worth of IDBI loans to Small Industries Development Bank have little chance of recovery. Bad debts and investments waived by IDBI has jumped by 230 per cent in the first quarter. Meanwhile, the salary bill has also soared 130 per cent. IDBI lends Rs 100 crore to Koshika Telecom even after the government cancelled its three telecom licences. IFCI has lost Rs 94 crore on Koshika.