|
|
|
|
|
29th Ramadan 1435 | Monday, Jul 28, 2014
Education and Career

Govt to set up finance corporation for education loans

Friday, 5 March 2010
Comments(0)
March 05:

New Delhi, March 05: The government on Friday said it proposes to set up a National Education Finance Corporation (NEFC) to finance entities interested in setting up educational institutions on easier terms and conditions.

Replying to questions in the Rajya Sabha, Human Resources Development Minister Kapil Sibal said NEFC will provide loans for infrastructure development and expansion of education institutions as well as for refinance facility for student loans.

“We are talking to the Planning Commission as it is just a proposal as of now. If NEFC is established, private, aided and government institutions will have access to it for finance on the pattern of soft loans or at priority sector lending rate, that are not available to the sector at present,” Mr. Sibal said.

“At the moment under the present policy framework, if you want to set up new educational institutions, banks lend at commercial rates as HRD is not considered under infrastructure by the Supreme Court,” Mr. Sibal said adding, it comes under “charity” giving State governments the right to control fees.

Once it is set up, loans would be made available to interested entities, and students will not have to “sell family silver for education” he said, adding, “My ministry is extremely keen on that proposal as presently only 12 children reach college out of 100 enrolled in schools.”

Replying to another query, he said the NEFC would have no role in recognition of educational institutions which is done by the University Grants Commission and the AICTE.

---PTI

Latest News

MH17 probe caused by 'massive explosive decompression': Kiev

Investigators probing the downing of Malaysia Airlines flight MH17 in rebel-held east Ukraine have d ...

AP: penalties imposed on senior officers b...

Andhra Pradesh RTI commissioner P Vijaya Babu today said that he recently imposed a penalty of Rs 25,000 on assistant labour commissioner, M ...

AP govt targets Rs 12,000 cr investment in...

Andhra Pradesh government aims to attract investment of Rs 12,000 crore in the Information Technology sector and that of Rs 30,000 crore in ...

Related News

Mock Tests for Civil Services at MANUU.

The MANUU CSE Residential Coaching Academy has announced the conduct of three Practice Tests on 3rd, 10th and 13 August for the forthcoming ...

Mock Tests for Civil Services at MANUU.

The MANUU CSE Residential Coaching Academy has announced the conduct of three Practice Tests on 3rd, 10th and 13 August for the forthcoming ...

Typewriting exams postponed to Aug 23

State Board of Technical Education and Training Secretary D Venkateswarlu has informed that the Typewriting Examinations scheduled to be hel ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27910 (Per 10g)

Opinion Poll
Do you think World Powers are powerless in preventing Israel's offences against Palestine?
YesNoCan't say

Comments >>

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com