The University Grants Commission has brought all the higher education institutions under one platform by amending the Academic Bank of Credit (ABC) regulation.
From now on, all universities, colleges and autonomous educational institutions can take part in the ABC system irrespective of their National Assessment and Accreditation Council (NAAC) and National Institute Ranking Framework (NIRF) rankings.
Earlier, only educational institutions having A grade by NAAC or higher were eligible to join the ABC platform. The Academic Bank of Credits system will help students to switch between institutions and programmes.
Under this system, student will open a unique Academic Bank Account in digital form; and the account holder shall be provided with a unique ID and access to the Standard Operating Procedure (SOP). “It was felt that universities and autonomous colleges satisfying sub-regulation (2) of regulation and the institution of National Importance as declared by the Government of India and especially empowered by an act of Parliament to confer grant degrees, irrespective of their NAAC or NIRF ranking should be able to register in the Academic Bank of Credits,” UGC notification mentioned.
The Academic Bank of Credit (ABC) system was launched by prime minister Narendra Modi last year.