About Us

Higher Education Financing Agency (HEFA) is a joint venture of MoE Government of India and Canara Bank for financing creation of capital assets in premier educational institutions in India as part of rising 2022 HEFA’s scope is greatly expanded to cover school education, educational institutes under Ministry of health etc.

HEFA is registered under Section 8 [ Not-for-profit] under the Companies Act 2013 as a Union Govt company and as Non–deposit taking Systematically Important (NBFC-ND-SI) with RBI.

HEFA incorporated on 31st May 2017, is a joint venture of MoE, GOI and Canara Bank with an agreed equity participation in the ratio of 90.91% and 09.09% respectively

Ours is a journey towards developing India’s top-ranked institutions like IIT’s, IIIT’s, NIT’s, IISCs, AIIMS into Globally top ranking institutions through improvement in their academic and infrastructure quality. We are particularly interested in financing the building of educational infrastructure, R&D infrastructure and thereby enabling the institutions to reach top rankings globally.

Sanctions and disbursements as on 30.09.2024

India’s premier educational institutions with high level of intellectual capital needs to be supported by adequate infrastructure.

We need to channelize their capabilities into meaningful research and innovation. Presently there is no Indian institution in global top 100 rankings.

To revitalize infrastructure and systems in higher education, their needs to be new investments in research and related infrastructure.

HEFA is established by GoI after taking note of all the above facts through a Budget announcement in 2016-17 that “We have decided to set up a Higher Education Financing Agency (HEFA). The HEFA will be a not-for- profit organisation that will leverage funds from the market and supplement them with donations and CSR funds. These funds will be used to finance improvement in infrastructure in our top institutions and will be serviced through internal accruals.”

HEFA would incentivise better internal resource generation and at the same time allow substantial investments through market borrowings that can be repaid over a longer period.

RISE 2022

“Revitalising Infrastructure and Systems in Education (RISE) by 2022”, is a major initiative launched by GOI in the FY 2018-19 budget.