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
]- Education ministry has spent under 55% of budgets for Samagra Shiksha Abhiyan, mid-day meal scheme this year
- Jio Institute not an Institution of Eminence, education ministry clarifies in Rajya Sabha
- ‘Degree loses value’: Why Andaman college students continue protest against shift from Pondicherry University
- Protests ‘natural part’ of campus life: HC quashes Ambedkar University Delhi’s order expelling student
- What changes with the National Dental Commission? Shrinking state role, NExT exam, BDS fee regulation
- Central institutions fill over 30,000 posts; SC, ST, OBC ones more slowly: Education ministry data
- IIFT Kolkata: Placements close with no jobs for over 34%; students allege bias in process
- Medical Colleges: NMC mandates more beds in select PG courses, fewer faculty for private institutes
- Revamp Samagra Shiksha Abhiyan, serve breakfast under PM POSHAN, regulate foreign university campuses: Panel
- ‘What is our life?’: Transgender Bill 2026 ‘returns us to the 1880s,’ says Kerala’s first trans lawyer