Higher Education Financing Agency

About Higher Education Financing Agency:

• Higher Education Financing Agency provides financial assistance for the creation of capital assets in premier educational institutions in India.
• It is registered under Section 8 as a Not-for-profit under the Companies Act 2013 as a Union Govt company and as Non–deposit-taking Systemically Important (NBFC-ND-SI) with RBI.
• It was established on 31st May 2017 and is a joint venture of the Ministry of Education, GoI and Canara Bank with agreed equity participation in the ratio of 90.91% and 09.09% respectively
• What are the objectives? The main aim of HEFA is for the development of India’s top-ranked institutions like IITs, IIITs, NITs, IISCs, and AIIMS into globally top-ranking institutions through improvement in their academic and infrastructure quality.
• It is particularly interested in financing the building of educational infrastructure, and R&D infrastructure and thereby enabling the institutions to reach top rankings globally.

Q1) What are capital assets?

Capital assets are assets that are used in any institute/company’s business operations to generate revenue over the course of more than one year.

Source: Speed up disbursal of loans sanctioned by HEFA: panel to Education ministry

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