Prime Minister, Shri Narendra Modi on July 29, 2021 launched UGC’s Academic Bank of Credit which is envisaged as a digital bank that holds the credit earned by a student in any course.
- Academic Bank of Credit will facilitate multidisciplinary education and enable multiple entry and exit for students in higher education.
- According to a notification released by the University Grants Commission, the Academic Bank of Credits will enable students to select the best courses or combination of courses to suit their aptitude and to tailor their degrees or make specific modifications or specialisations rather than undergoing the rigid, regularly prescribed degree or courses of a single university.
- Students will be academic account holders to whom the Academic Bank of Credits will provide a variety of services including credit verification, credit accumulation, credit transfer or redemption and authentication of academic awards.
