IDBI Bank is looking to sell all six non-performing assets (NPAs) worth Rs 1,353 crore by the end of March, multiple sources familiar with the matter told CNBC-TV18.

The lender is planning to sell bad loans to banks, financial institutions or asset restructuring companies as it steps up efforts to recover dues from loan offenders, said the above mentioned sources on condition of anonymity.

The development comes after the bank on Sunday announced that it has created a joint task force with Life Insurance Corp (LIC) to chart out the future roadmap, both for the bank and its associate companies.

The bank is looking to sell loans of Reliance Communications and Reliance Telecom loans worth Rs 1,056 crore. IDBI Bank has also put Mittal Corp (Rs 73 crore exposure), Amzen Transportation Industries (Rs 79 crore), Sunrise Pictures (Rs 8 crore), Nandhi Dal Mills (Rs 32 crore), and Loop Mobile (Rs 105 crore) on the block, said the sources.

The insurer on January 31 completed the acquisition of a 51 percent stake in the bank. IDBI Bank received a total capital of Rs 21,624 crore from the insurer to help it come out of debt and to bolster future roadmap.

The lender has been under the prompt corrective action (PCA) framework of the Reserve Bank of India (RBI) that bans it from corporate lending and branch expansions, salary hikes, and other regular activities. The RBI's decision came after the bank's NPAs touched 33 percent which has come down to 29 percent in December 2018 of its total assets.

IDBI Bank stock was trading nearly 4 percent high at Rs 45 at 11:30 am on the BSE. In comparison, the S&P BSE Sensex was up 0.85 percent or 311 points.