• AglaSem
  • Schools
  • Admission
  • Career
  • Cut Offs
  • News
  • Hindi
  • Mock Test
  • Docs
  • ATSE
aglasem
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation
No Result
View All Result
aglasem
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation
No Result
View All Result
aglasem
No Result
View All Result

Home » Featured » HEFA: What is Higher Education Financing Agency? What Is It Doing?

HEFA: What is Higher Education Financing Agency? What Is It Doing?

by Anwesha Bose
July 21, 2018
in Featured
Reading Time: 4min read
0
Share on WhatsAppShare on Facebook

HEFA is a section 8 company registered on 31 May 2017 with Canara Bank as its partner having 250 cr equity from Government and 50 cr from Canara Bank licensed by RBI to operate as a non banking financial company for the purpose of mobilizing money through market borrowing and releasing them to Government institutions as interest free loans.

Prakash Javadekar has announced that HEFA board has approved fresh projects of Rs 8049.47 cr of 12 higher education institutions; this takes total HEFA approvals to over 10000 cr. He further outlines that this takes total allocation for education from 63000 cr in 2013-14 to 110000 cr in 2018-19 which is a 70% increase.

Chandigarh University Admission 2021
CUCET 2021 Application Form
CUCET - 2021 rewards your academic brilliance with global opportunities & extraordinary assistance with Scholarships worth Rs. 33 Crore.
Apply Now
Brochure

In a big push to improve the research infrastructure in Higher Education Institutions, the #HEFA Board on Friday approved fresh projects for Rs 8049.47 cr of 12 HE Institutions, taking the total #HEFA approvals to over Rs 10,000 cr. @narendramodi#TransformingEducation

— Prakash Javadekar (@PrakashJavdekar) July 21, 2018

Thus, with #HEFA the overall allocation for Education has gone up from Rs 63000 cr in 2013-14 to Rs 1,10,000 cr in 2018-19, a 70% increase. A promise delivered. @narendramodi #SaafNiyatSahiVikas #48monthsoftransformingindia #TransformingEducation

— Prakash Javadekar (@PrakashJavdekar) July 21, 2018

The approvals in line with PM @narendramodi Govt’s vision of #TransformingEducation research infrastructure include, @IITBhilai (Rs 983.95 cr), @iitdharwad (RS 1062.83 cr), @IITJammu (Rs 1085.04 cr), @iit_tirupati (Rs 976.89 cr), @iitpalakkad (Rs 1217.40 cr) #HEFA
…

— Prakash Javadekar (@PrakashJavdekar) July 21, 2018

…@iitropar (Rs 443.13 cr), @IITHyderabad (Rs 500 cr), @IITJodhpur (Rs 220 cr), @iitpatna (Rs 365 cr), @iitbbs (Rs 550 cr), @iitgn (Rs 280 cr),@NIT-AP ( Rs 365.23) .#HEFA#SaafNiyatSahiVikas #48monthsoftransformingindia #TransformingEducation

— Prakash Javadekar (@PrakashJavdekar) July 21, 2018

Approvals given by HEFA include – IIT Bhilai: 983.95 cr, IIT Dharwad: 1062.83 cr, IIT Jammu: 1085.04 cr, IIT Tirupati: 976.89 cr, IIT Palakkad: 1217.4 cr, IIT Ropar: 443.13 cr, IIT Hyderabad: 500 cr, IIT Jodhpur: 220 cr, IIT Patna: 365 cr, IIT BBS: 550 cr, IIT GN: 280 cr, NIT AP: 365.23 cr.

Purpose of HEFA is to provide additional funds to institutes of higher education in India. Institutions can use allocated funds as per progress of projects. Funds allocated by HEFA are in addition to grants that these institutions get.

Institutions require funds for things such as construction, laboratory set up, equipping libraries, doing research projects, setting up Centres of Excellence (CoE), campus common infrastructure. HEFA only funds non recurring portion.

Institutes of Higher Education in India set up or funded under control of MHRD GoI and other central ministry as decided by MHRD are eligible to take finance from HEFA.

  • LPUNEST 2021 Application Form
  • UPES Dehradun 2021 Application
  • CUCET 2021 Applicaton (Phase-1)

Loan processing of HEFA starts with institution submitting proposal at hefa.co.in. then HEFA assesses loan eligibility and communicates any queries it has about proposal. Financial, technical, legal processes are then completed. HEFA conveys sanction with terms to institution. Once institution executes loan documents, loan is given.

Subscribe For Latest Updates
Tags: MHRD
Previous Post

SBI May Release Clerk Admit Card (Main) on 23 July | Prelims Result Expected To be Declare Anytime

Next Post

RRB to Conduct ALP 2018 from 9 Aug; Download Admit Card 4 Days Prior

Anwesha Bose

Hi! I am Anwesha. I have been reporting on education and career since 2009. It is a pleasure to present latest authentic reports on academia 24x7x365. If you wish to report any news related to colleges, universities, entrance exams, government jobs, career, please feel free to write to editor@aglasem.com. Please mention your basic personal details, source of the news story, and crucial points of the story in your email.

Related Posts

Featured

VIT Spreads Wings: Hyderabad Office Opened For Students To Easily Get Information

February 8, 2021
Featured

Scholarships in India: 20 Cr Budget Last Year for SC Candidates To Go Abroad; 42000+ PWD Benefitted from Govt Schemes

February 6, 2021
Budget 2021
Featured

100 New Military Schools and 783 Eklavya Schools Proposed in Union Budget 2021

February 1, 2021
Featured

Pearson VUE launches Pearson Undergraduate Entrance Exam across India

December 22, 2020
Featured

Education Minister Goes Live [Highlights]: CBSE Board Exam 2021, NEET 2021, JEE Main 2021 Updates by Ramesh Pokhriyal on Twitter

December 10, 2020
Featured

#EducationMinisterGoesLive: Dr Ramesh Pokhriyal Nishank Likely To Announce JEE Main, NEET, Board Exam 2021 Dates on 10 Dec During Webinar

December 3, 2020
Next Post

RRB to Conduct ALP 2018 from 9 Aug; Download Admit Card 4 Days Prior

Registrations Open!!

  • CUCET 2021 Applicaton (Phase-1)
  • LPUNEST 2021 Application Form
  • UPES Dehradun 2021 Application

Top Three

Narayana Business School Announces NBSAT 2021 MBA Entrance Exam

December 31, 2020

Latest Government Job Notifications 04 Mar 2021 [Live] – HSSC Canal Patwari and more

March 4, 2021

Latest Government Job Notifications 03 Mar 2021 [Live] – Bank of Baroda and more

March 3, 2021
  • Disclaimer
  • Terms of Use
  • Privacy Policy
  • Contact

© 2020 aglasem.com

No Result
View All Result
  • Entrance Exams
  • Competitive Exams
  • School Boards
  • University & Colleges
  • Exam Preparation

© 2020 aglasem.com

CUCET Application 2021 (Phase-1)!! Click Here