'GE Money is not up for sale'

NEW DELHI: GE India on Monday said that its consumer finance's GE Money is not up for sale but did not comment on media reports which had suggested that its appliances arm could be on the block.

"It's (consumer finance business) our unit and we are not selling," GE India President and CEO Tejpreet Singh Chopra said.

However, on reports that GE was looking for suitors for its appliance business, the company spokesman declined to comment.

When asked about liquidity crunch, Chopra said, "As of now there is no liquidity crunch but the next two quarters will hold the key. The government has taken some steps in the right direction and let's see what happens."

The Indian unit also said that it is hopeful of achieving its annual revenue target of $ eight billion by 2010.