The Cabinet Committee on Economic Affairs (CCEA) has approved proposal for expanding the scope of Higher Education Financing Agency (HEFA) by enhancing its capital base to Rs. 10,000 crore and tasking it to mobilise Rs. 1,00,000 crore for Revitalizing Infrastructure and Systems in Education or RISE by 2022.
The modalities for raising money from the market through Government guaranteed bonds and commercial borrowings would be decided in consultation with the Department of Economic Affairs. This would enable HEFA to leverage additional resources from the market to supplement equity, to be deployed to fund the requirements of institutions.
Source- DD News
Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
- HEFA was set up on 31st May 2017 by centre as a Non Banking Financing Company for mobilising resources for building infrastructure in higher educational institutions under Central Govt.
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