Academic Bank of Credit

Context:

  • The government has brought the IITs, IIMs and other Institutions of National Importance (INIs) under the Academic Bank of Credit (ABC) framework, which allows students to pursue up to 50 per cent of a course from institutions other than the one with which they are enrolled.

About:

  • Academic Bank of Credit (ABC) is proposed under the National Education Policy (NEP) 2020. 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.

Benefits:

  • ABC will help in credit verification, credit accumulation, credit transfer and redemption of students, and promotion of the students.
  • It is envisaged as a digital bank that holds the credit earned by a student in any course. It is a major instrument for facilitating multidisciplinary and holistic education. It will provide multiple entry and exit options for students in Higher education.
  • It will make the youth future-oriented and open the way for an Artificial Intelligence (AI) -driven economy.

       Source The Hindu

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