The JNU has got approval for a fund from the Higher Education Funding Agency (HEFA) for the construction of new infrastructure.

Try this PYQ:

What is the aim of the programme ‘Unnat Bharat Abhiyan’? (CSP 2017)

(a) Achieving 100% literacy by promoting collaboration between voluntary organizations and government’s education system and local communities.

(b) Connecting institutions of higher education with local communities to address development challenges through appropriate technologies.

(c) Strengthening India’s scientific research institutions in order to make India a scientific and technological power.

(d) Developing human capital by allocating special funds for health care and education of rural and urban poor, and organizing skill development programmes and vocational training for them.

About HEFA

• HEFA is a joint venture company of Canara Bank and Ministry of Human Resource Development.
• It provides financial assistance for the creation of educational infrastructure and R&D in India’s premier educational institutions.
• All the Centrally Funded Higher Educational Institutions will be eligible to join as members of the HEFA.
• For joining as members, the educational institution must agree to escrow a specific amount from their internal accruals for a period of 10 years to the HEFA.

Funding pattern of HEFA

• HEFA will have an authorized capital of 2,000 crore rupees and the government equity would be 1,000 crore
• It also mobilizes CSR funds from Corporates/PSUs which will, in turn, be released for promoting research and innovation in these institutions on a grant basis.
• The principal portion of the loan will be repaid through the ‘internal accruals’ of the institutions earned through the fee receipts, research earnings etc.

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