PM Modi launches Academic Bank of Credit, other initiatives for education sector

Our Bureau New Delhi | Updated on July 29, 2021

Gives students in higher education the option to choose subjects in multiple-disciplines, duration of study

Prime Minister Narendra Modi on Thursday announced launching of several initiatives undertaken under the National Education Policy (NEP) 2020 including Academic Bank of Credit and the Artificial Intelligence programme to make the youth future-oriented and open the way for an AI-driven economy.

Academic Bank of Credit is envisaged as a digital bank that holds the credit earned by a student in any course. It is a major instrument for facilitating multidisciplinary and holistic education and multiple entry and exit in higher education.

A University Grants Commission notification said that 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.

It said 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.

‘Vibrant and accessible’

“Initiatives like these will make the education sector more vibrant and accessible,” said Prime Minister Narendra Modi while addressing the nation on completion of the launch of NEP 2020.

Meanwhile, underlining the critical role of teachers, PM Modi said that from the formulation stage to implementation, teachers are active part of the New Education Policy.

Teacher training

He launched NISHTHA 2.0 to train teachers as per their needs and they will be able to give their suggestions to the department.

In a bid to promote Indian sign language and help differently-abled people, Modi designated the Indian sign language as a subject that students can study. “There are more than 3 lakh student who need sign language for their education. This will give a boost to Indian sign language and will help the divyang people,” said PM Modi.

Modi also launched Structured Assessment For Analysing Learning Levels (SAFAL) a competency based assessment framework for Grades 3, 5 and 8 in CBSE schools and a website dedicated to Artificial Intelligence.


According to the UGC notification “Academic Bank of Credits means an academic service mechanism as a digital or virtual or online entity established by the Commission with the approval of the Central government, to facilitate students to become its academic account holders, thereby paving the way for seamless student mobility between or within degree-granting higher educational institutions through a formal system of credit recognition, credit accumulation, credit transfers and credit redemption to promote distributed and flexible teaching-learning”.

It further added that the organisational structure of academic bank of credits shall be a digital or virtual or online store-house entity of academic credit data base of higher education institution with students as its stakeholder. It will be a bank for academic purposes, on the pattern of commercial banks for financial purposes, with students as academic account holders to whom it shall provide a variety of services including credit verification, credit accumulation, credit transfer or redemption and authentication of academic awards.


Published on July 29, 2021

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