HEFA released Rs 5,828 cr to educational institutions by December 2019
Team Careers360 | January 23, 2020 | 01:06 PM IST | 1 min read
NEW DELHI: Seventy-five higher education institutions have been sanctioned infrastructure loans by the Higher Education Financing Agency (HEFA) amounting to Rs 25,744.82 crore. And, as per data released by the Ministry of Human Resource Development (MHRD), Rs 5,828.34 crore of this had been disbursed till December 2019.
Under the Revitalising Infrastructure and Systems in Education, or RISE, scheme, HEFA has bee tasked with extending infrastructure loans to higher education institutions. In December 2019 alone, Rs 400.73 crore was given to 26 educational institutions under MHRD and Ministry of Health and Family Welfare.
As per the Department of Higher Education’s note to the Union Cabinet, the Rs 25,744.82 crore loan will go toward projects cumulatively worth Rs. 37,001.21 crore.
HEFA was started in May 2017, is a joint venture of MHRD and Canara Bank for financing the creation of capital assets in premier institutions. The RISE scheme was announced in the 2018 Union budget. According to a MHRD statement, its aim is to use HEFA loans to “to translate the objectives into an action plan by making available resources from the market” to create high-quality research and education infrastructure by 2022.
Write to us at news@careers360.com
Follow us for the latest education news on colleges and universities, admission, courses, exams, research, education policies, study abroad and more..
To get in touch, write to us at news@careers360.com.
Featured News
]- Vidya Pravesh: 4.2 crore students across 8.9 lakh schools covered, but numbers now falling consistently
- Over 7 lakh Kendriya Vidyalaya students assessed via education ministry’s TARA app, 1.46 lakh on career tool
- Caste on Campus: The shape of discrimination in universities and why many back UGC equity regulations
- Across Telangana’s new government medical colleges, 26 depts empty, 31 with single teachers: Doctors’ survey
- ‘No TET’: School teachers’ jobs at risk, hundreds in Delhi to rally against mandatory eligibility tests
- NCAHP draft policy curbs state role in allied and healthcare course design; grants power to verify institutes
- Private employees in government schools, Assam vocational teachers want 3rd-party agencies out of their jobs
- India saw 93,000 schools shut down over last 10 years; MP, UP lead closures, govt tells Lok Sabha
- Skill India Mission’s JSS scheme needs higher budget, infrastructure boost: Govt cites study in parliament
- Legal jobs boom with riders – master AI, intern longer, practise 3 years for judicial services