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.
