Academic Bank of Credit: Years will not be wasted if you drop out in the middle, students' records will be kept safe through Academic Bank; Know what is ABC and its benefits

  • NEP 2020| What Is Academic Bank Of Credit (ABC); Functions Of ABC And Its Benefits| One Year Of New Education Policy

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The Union Cabinet had approved the country's new education policy a year ago today. For the first time after 1986, after 34 years, the education policy of the country is changing. In this, a lot of changes have been made from the admission of the child in primary school to higher education and joining the job force.

Taking a step forward in the direction of change under the new education policy, Prime Minister Modi will launch the Academic Bank of Credit today. Let us know how this bank will work for students and institutes.

What is Academic Bank of Credit?

Academic Bank of Credit is a virtual store-house, which will keep a record of secured academic credit of a student. On the basis of these numbers, students will get degree, diploma or certificate. It has been prepared on the lines of National Academic Depository. It will function as a commercial bank where the students will be the customers and ABC will provide many services to these students.

How will academic bank work?

Students will have to open an account with the academic bank and each student opening the account will be given a unique ID and Standard Operating Procedure (SOP). In the academic account of the students, the higher education institutions will give credit to the students for the courses they are pursuing.

After the implementation of this scheme, if the student leaves the college in the middle, then his studies will not go in vain. Certificate will be given after passing the first year, diploma after two years and degree after three years. Apart from this, if the student wants to start studies again, then there will be arrangement for that too.

Will all credits have to be obtained from the same institution?

Under this initiative, students will be able to choose from the courses being offered in different institutes. Actually, not every institute has all the courses in which the student is interested. In such a situation, this scheme will give freedom to the students to pursue courses from different institutes according to their choice. During this time, students will be given degrees, diplomas or certificates on the basis of "credits" being deposited in the bank.

The duration of graduation degree can be three to five years. Will all credits have to be deposited during this time?

This bank is being set up to make the years of old education policy and rigid structure of institutions more flexible than before. The credit storage system will allow a student to study at his/her own pace. A student leaves a course midway and has records of all courses in ABC. Such students will be able to continue their studies from there whenever they want.

That is, after this scheme, students will have the option of multiple entry and exit in the college. Under-graduate education will be of 3-4 years. Certificate on one year, Advanced Diploma on 2 years, Graduate degree on 3 years and graduate with research after 4 years.

What will be the period for doing store credit?

Credits stored in ABC will be valid for a maximum period of seven years. The shelf life of all credits credited to the "Academic Account" shall be valid for a maximum period of 5 years or as may be decided by the Institute.

What will be the functions of ABC?

ABC will credit the credits given by the registered institute to the accounts of the students. It will also validate the credit as per UGC guidelines and norms. The bank will only accept credits given to institutions and not from students.

Which courses will be covered under the scheme?

The bank will cover all UGC approved higher institute courses as well as engineering, medical, dental, law and other professional courses. However, many of these courses will be regulated by different professional bodies. Their approval will be sought for the credit bank scheme.

In addition, government e-learning platforms such as SWAYAM, NPTEL, V-Lab or any university courses will also be considered for credit transfer and accumulation.

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