Centre to give ₹2000-cr interest-free loan to 5 IITs, 1 NIT
The Centre's Higher Education Financing Agency (HEFA) on Wednesday approved an interest-free loan of over ₹2,000 crore to five Indian Institutes of Technology and a National Institute of Technology. While ₹1,028 crore was approved for research and academic purposes, ₹1,038 crore was sanctioned for other supporting infrastructure. The HEFA is jointly funded by the HRD Ministry and a promoter/bank.