Consider the following statements regarding the Higher Education Financing Agency (HEFA): 1. It is a non-profit, Non Banking Financing Company (NBFC). 2. All Centrally Funded Educational Institutions in Higher Education, School Education and Medical Education sectors are eligible to avail of loans through HEFA. Which of the statements given above is/are correct?

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Q. Consider the following statements regarding the Higher Education Financing Agency (HEFA):
1. It is a non-profit, Non Banking Financing Company (NBFC).
2. All Centrally Funded Educational Institutions in Higher Education, School Education and Medical Education sectors are eligible to avail of loans through HEFA.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C

Notes:

HEFA has been set up on 31st May 2017 by the Central Government as a non-profit, Non Banking Financing Company (NBFC).

HEFA was established to mobilize extra-budgetary resources for building crucial infrastructure in the higher educational institutions under Central Government.
The Government has approved the authorised equity capital expansion of Higher Education Financing Agency (HEFA) to Rs. 10,000 crore, with Government equity of Rs. 6000 crore.

An amount corresponding to 10% of the Government equity would be contributed by the partner institution, Canara Bank.
All Centrally Funded Educational Institutions in Higher Education, School Education and Medical Education sectors are eligible to avail of loans through HEFA.

Source: https://hefa.co.in/about-us/