alter database recover datafile '/ifs/dpp/live/data/IFSLIVEdts03.dbf';
alter database recover datafile '/ifs/dpp/live/data/IFSLIVEdts03.dbf'
Is the archive log file /ifs/dpp/archivelogs/1_2544_741693934.dbf is exists in archive log destination?

No need to alter database. Just use

SQL>recover datafile '/ifs/dpp/live/data/IFSLIVEdts03.dbf';

when it prompt to Specify log then select AUTO.

Thanks,