Higher Education Financing Agency (HEFA)
- Posted By
6th Aug, 2020
- HEFA incorporated on 31st May 2017, is a joint venture of Ministry of HRD, GOI and Canara Bank with an agreed equity participation in the ratio of 90.91% and 09.09% respectively.
- HEFA is registered under the Companies Act 2013 as a Union Govt company and as Non–deposit taking NBFC with RBI.
- VISION: To enable India’s premier educational institutions to excel and reach the top in global rankings by financing building world class infrastructure including R&D Infra.
- It will mobilize resources from the market by way of equity from individuals / corporates and by issue of bonds to finance the requirement.
- It provides financial assistance for creation of educational infrastructure and R&D in India’s premier educational Institutions.
- Encourages scientific and technological developments by supporting R&D facilities for conducting high-quality research.
- Revitalising Infrastructure and Systems in Education (RISE) by 2022”, is a major initiative launched by GOI in the FY 2018-19 budgets.
- HEFA’s scope under RISE has been greatly expanded from initial objective of financing infrastructural needs of select Higher Educational Institutions in India to the extent of Rs. 20,000 crores.