Academic Bank of Credit

News: On the first anniversary of the National Education Policy (NEP), the Centre plans to officially roll out some initiatives promised in the policy, such as the Academic Bank of Credit.

What is the Academic Bank of Credit (ABC)?

  • Set-up by the University Grants Commission (UGC).
  • Under the ABC, students will be given multiple entry and exit options.
  • This enables students to leave a degree or course and get a corresponding certification and rejoin studies after a certain time and be able to start from where they had left.
  • It will also provide students with the flexibility to move between institutes while pursuing one degree or leave a course.
  • ABC will keep records of the academic credits of a student. It will not accept any credit course document directly from the students for any course they might be pursuing, but only from higher education institutes, who will have to make deposits in students’ accounts. ABC will help in credit verification, credit accumulation, credit transfer and redemption of students, and promotion of the students.

Functions of ABCs

  • ABC will be responsible for opening, closing, and validating the academic accounts of students.
  • It will also perform tasks including credit verification, credit accumulation, credit transfer/redemption of students, and promotion of the ABC among the stakeholders.
  • The courses will also include online and distance mode courses offered through National Schemes like SWAYAM, NPTEL, V-Lab etc.
  • The validity of these academic credits earned by students will be up to seven years. The validity can also vary based on the subject or discipline. Students can redeem these credits.
  • For instance, if a student has accumulated 100 credits which are equivalent to say one year and they decide to drop out.
  • Once they decide to rejoin, they can redeem this credit and seek admission directly in the second year at any university. The validity will be up to seven years; hence, students will have to rejoin within seven years.

Benefits for students

  • The participating HEIs in the ABC scheme will enable students to build their degrees as per their choices.
  • As per UGC guidelines, the higher education institutes will have to allow students to acquire credits 50-70% of credits assigned to a degree from any institute.
  • Students, depending upon their needs can take this opportunity.
  • UGC will ensure that students secured the minimum credits to be secured in the core subject area.