The University Grants Commission (UGC) chairman Professor Mamidala Jagadesh Kumar will discuss the operationalization of the Academic Bank Of Credits (ABC) at the universities on December 29, 2022. The National e-Governance Division (NeGD) of the Ministry of Electronics and Information Technology (Meity) will share the end-to-end flow of the ABC and guide on the subject. The programme will be webcast live from 10 am on the social media handles of UGC.
UGC's official notice reads: “As you are aware, National Education Policy, 2020 envisions the establishment of the Academic Bank of Credits (ABC), a national-level facility which will be a bank for academic purposes with students as academic account holders. ABC shall provide a variety of services which include credit verification, credit accumulation, credit redemption and authentication of academic awards”.
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UGC in its notice also stated that for the effective implementation of the student-centric facility, it is necessary that all universities register with the ABC with approval from the statutory authorities of extant ordinances and monitor the development and operationalization of the ABC programme at the university level.
The initiative will also make it possible for all students to open an academic bank account with ABC to commute credits to award any degree, diploma or certificate.