Process for granting IoEs status to higher educational institutions should be accelerated: Parliamentary Panel

It must be noted that the HEFA is a joint venture company of Canara Bank and Ministry of Education. HEFA provides funding for the development of educational infrastructure and research and development in India's top educational institutions. The panel ordered that the committee be given a copy of the status notes for each of the two public institutions and five private institutions that are being considered for IoE designation.

Process for granting IoEs status to higher educational institutions should be accelerated: Parliamentary Panel

A Parliamentary Panel has recommended that the process of granting the Institutions of Eminence (IOEs) status to higher educational institutions should be rapid and the revision of the HEFA scheme should also be accelerated.

It must be noted that the HEFA is a joint venture company of Canara Bank and the Ministry of Education. HEFA provides funding for the development of educational infrastructure and research and development in India's top educational institutions. The panel ordered that the committee be given a copy of the status notes for each of the two public institutions and five private institutions that are being considered for IoE designation.

 "The committee notes that efforts at various levels are underway to grant IoE status to the remaining two public institutions and five private institutions while one institution has expressed its inability to comply with the conditions of the letter of intent. The committee, therefore, recommends that the process for granting the status of IoEs be accelerated, so that, the remaining institutions also get the IoE status at the earliest," it said.

"The committee also directs that a status note on each of the two public institutions, five private institutions which are being considered for IoE status be placed before the committee for its perusal," the panel chaired by Rajya Sabha MP Vivek Thakur said in its report.

In 2019, a plan to choose 20 IoEs, 10 public and 10 private, that would have total academic and administrative autonomy was unveiled. For private institutions proposed as Institutes of Eminence, the government would not provide financial support; however, it will grant money up to Rs 1,000 crore to public institutions with the IoE tag.

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