About HEFA :
HEFA is a joint venture of ministry of Human Resource Development and Canara Bank .HEFA is for financing creation of capital assets in higher educational institution in India .
1. HEFA initial capital base — 2000 crores
2. HEFA will be a Non profit organisation
3.HEFA is established as a Company under companies act and registered with RBI as Non Banking Financial Company.
4. HEFA require contribution in the form of equity and other debt instruments , so that it can mobilize 1 lakh crore from market.
5.Corporate who are contributing more than 50 crore equity can become members of Apex Advisory Committee of HEFA .
1. To reach top in global ranking by financing infrastructure especially in R&D.
2. To provide finance at low interest rate for capital asset creation.
3. Channelizing CSR funds and other donation towards infrastructure development in higher education sector.
Loan Eligibility :
The education institution should agree to escrow a specific amount from their internal accruals to HEFA for loan repayment period .Each institution eligible for a credit limit as decided by HEFA based on escrowed amount.
For Whom HEFA Finance ?????
All higher educational institutions set up or funded under the control of central ministry as decided by Ministry of Human Resource Development would be eligible for loans.
For What HEFA Will Finance ?????
construction of buildings, laboratories,research projects, campus , students facility centers etc.