Cabinet
27-October-2016 15:50 IST
Cabinet approves establishment of
National Academic Depository
The
Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has
accorded its approval for establishment and operationalisation of a National
Academic Depository (NAD). The decision aims at bringing another dimension and
enhancement of the vision of Digital India.
The
NAD would be established and operationalised within the next three months and
would be rolled out throughout the country in 2017-18.
The
Finance Minister's Budget Speech of 2016-17, in February this year,
incorporated this commitment to establish a Digital Depository for school
learning certificates, degrees and other academic awards of Higher Education
Institutions, on the pattern of a Securities Depository.
The
NAD would be operationalised by NSDL Database Management Limited (NDML) and
CDSL Ventures, Limited (CVL) - two of the wholly owned subsidiaries of the
Depositories registered under Securities Exchange Board of India (SEBI) Act,
1992.
Academic
institutions would be responsible for the authenticity of data digitally
uploaded by them into the system. The depositories will ensure the integrity of
the data in the NAD. The NAD will register educational
institutions/boards/eligibility assessment bodies, students and other
users/verifying entities like banks, employer companies, government agencies
and academic institutions.
It
will provide digital or a printed copy of the academic award with security
features to the students or other authorized users. NAD will verify academic
awards online on the same day of request initiated by any authorized user.
Requests
for access to academic awards, for example, from potential employers, and
academic institutions would be only on the basis of consent of the student.
NAD
shall maintain the authenticity, integrity and confidentiality of its database.
It will also train and facilitate academic institutions/boards/ eligibility
assessment bodies to efficiently lodge academic awards in the database.
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AKT/VBA/SH
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