About: Academic Bank of Credit referred to as ABC is a virtual store-house which will keep records of academic credits secured by a student. These credits can be deposited to student accounts. After the accumulation of credits, a student can redeem these in order to get any academic degree. It is drafted on the lines of the National Academic Depository. It will function as a commercial bank where students will be the customers and ABC will offer several services to these students.
Detail: Students will have to open an Academic Bank Account and every account holder would be provided with a unique id and Standard Operating Procedure (SOP). The academic accounts of students will have credits awarded by higher education Institutes to students for the courses they are pursuing. However, ABC will not accept any credit course document directly from the students, and its institutes which will make the deposits in students’ accounts.