Q. Consider the following statements regarding the Higher Education Financing Agency (HEFA):
1. It is a not-profit banking agency established in 2017.
2. It is established to mobilise extra-budgetary resources for building crucial infrastructure in the higher educational institutions under Central Government.
Which of the statements given above is/are correct? 
Answer: B
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.
NOTE: 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: ForumIAS factly
