Higher Education Financing Agency HEFA was established by the government for creating capital assets...........

Economic Affairs Financial Institutions

Higher Education Financing Agency (HEFA) was established by the government for creating capital assets in higher educational institutions, which of the following are correct regarding HEFA:

1. The HEFA would be jointly promoted by the identified Promoter and the Ministry of Human Resource Development (MHRD) with an authorised capital of Rs.2,000crore.

2. The HEFA would be formed as a SPV within a PSU Bank/ Government-owned- NBFC (Promoter).

3. All the Centrally Funded Higher Educational Institutions would be eligible for joining as members of the HEFA.

Codes:

1 and 2

2 and 3

1 and 3

All

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Explanation:

The HEFA would be jointly promoted by the identified Promoter and the Ministry of Human Resource Development (MHRD) with an authorised capital of Rs.2,000crore. The Government equity would be Rs.1,000crore. The HEFA would be formed as a SPV within a PSU Bank/ Government-owned-
NBFC (Promoter). It would leverage the equity to raise up to Rs. 20,000 crore for funding projects for infrastructure and development of world class Labs in IITs/ IIMs/NITs and such other institutions.