Academic Bank of Credit [ABC]

By : Neha Dhyani

Updated : Apr 12, 2022, 7:32

In India, various statutory bodies are working toward maintaining the quality of education, and University Grants Commission (UGC) is one of them. UGC, from the beginning, is involved in evaluating teaching-learning practices and trying to bring innovation to the education world.

Hence, the UGC has introduced the Academic Bank of Credits (ABC) to continue this transformative educational setup chain.

Before discovering its features, objectives, and significance, let's understand what the Academic Bank of Credits is.

What is the Academic Bank of Credit [ABC]?

In 2020, Mr Narendra Modi introduced the National Education Policy, and the Academic Bank of Credits is a significant part of this policy. The scheme has the provision of creating and maintaining a digital structure in which all the students' academic credits are stored throughout their educational journey.

The Academic Bank of Credits is responsible for opening, closing, and verifying the academic score of students. However, it helps the students to open their accounts manually, and students have the choice to enter and leave the college. This scheme enables students multiple exits and entry points during the higher education period, and the credits are easily transferred through ABC.

In India, the Academic Bank of Credits abides by the standard operating procedures as communicated to them by ABC, along with a unique ID that proves that students have an account with ABC.

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Functions of the Academic Bank of Credit

  • This scheme will include all types of courses provided by higher education institutes and is recognized by the University Grants Commission (UGC), whether for post-graduation, diploma, certification courses, etc.
  • The academic score earned by the students is valid for up to 7 years, and students can redeem this.
  • The scheme covers all education mediums, including online, distance, or even regular classes.
  • The Academic Bank of Credits will not accept any credit documents directly by students. However, it will only be accepted if students are enrolled in higher education. The institution has the credit responsibility for the score in students' accounts regularly.
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Significance of the Academic Bank of Credit

  • The student's credits are stored in their accounts, and it will give them freedom concerning their academic career choices.
  • Students have the right to drop out from any college in any semester and then have the facility to exchange the credits earned so far with certification if they are eligible.
  • Enables the students to redeem the credits and rejoin the same institute in the future for continuing their education.

Objectives of the Academic Bank of Credit

  • Encourage students to learn the best course of their interest
  • Focus on learner-friendly teaching approaches
  • Enable the students to learn and practise at their own pace
  • Encourage student-centric education
  • Implement an interdisciplinary approach

Expected Impact of the ABC on the Indian Education System

University Grants Commission (UGC) expects that implementing this Academic Bank of Credits scheme will positively change the Indian education system. Those students who participated in the project will be beneficial in the long term due to its smooth management of credits.

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FAQs on Academic Bank of Credit [ABC]

Q.1) What is the Academic Bank of Credit [ABC]?

The Academic Bank of Credit [ABC] has the provision of creating and maintaining a digital structure in which all the students' academic credits are stored throughout their educational journey.

Q.2) Who introduced the Academic Bank of Credit [ABC]?

In 2020, Mr Narendra Modi introduced the Academic Bank of Credit [ABC] as a part of the National Education Policy.

Q.3) What are the functions of the Academic Bank of Credit [ABC]?

The functions of the Academic Bank of Credit [ABC] is -

  • The Academic Bank of Credit [ABC] is responsible for opening, closing, and validating the academic accounts of students.
  • The academic score earned by the students is valid for up to 7 years, and students can redeem this.
  • The scheme covers all education mediums, including online, distance, or even regular classes.

Q.4) What is the significance of the Academic Bank of Credit [ABC]?

The Academic Bank of Credit [ABC] enables students to redeem credits and rejoin the same institute in the future for continuing their education.

Q.5) What are the objectives of the Academic Bank of Credit [ABC]?

The Objective of the Academic Bank of Credit [ABC] is -

  • Encourages students to learn the best course of their interest
  • Focuses on learner-friendly teaching approaches
  • Enables the students to learn and practise at their own pace
  • Encourages student-centric education
  • Implements an interdisciplinary approach