Government announces creation of Higher Education Financing Agency
Q. Government has announced the creation of HEFA which will create infrastructure for top institutions like IITs. What does HEFA stand for?- Published on 02 Mar 16a. Higher Education Financing Agency
b. Higher Education Finance Association
c. Higher Education Financial Amalgamation
d. None of the above
ANSWER: Higher Education Financing Agency
The agency has been announced with initial capital base of INR 1000 crore which will leverage funds from the market and work for the purpose of creating infrastructure for IITs and other top educational institutions. Regulatory architecture is also in place for 10 public and private institutions to emerge as world class teaching research institutions. The FM also announced the establishment of Digital Depository for academic certificates and opening of over 62 Navodaya Vidyalayas. HEFA will be an NPO for leveraging funds from the market and supplementing them with donations and CSR funds. Funds will be used for financing improvement in infrastructure in top institutions serviced through internal accruals.
