Given below are two statements:
Statement I: Academic Bank of Credit facility is meant for credit verification. accumulation, transfer, redemption and degree authentication with students as account holders.
Statement II: Academic Bank of Credit will be a degree awarding organisation.
In the light of the above statements, Choose the correct answer from the options given below:

Correct option is C

Statement I is true but Statement II is false. The Academic Bank of Credit (ABC) is a facility introduced under the National Education Policy (NEP) 2020, designed for the verification, accumulation, transfer, and redemption of academic credits. It allows students to hold credits in an account, similar to a bank account, which can later be used for earning degrees. However, Statement II is false because the Academic Bank of Credit itself does not grant degrees; it only facilitates the accumulation and transfer of credits across institutions. Degree awarding remains the responsibility of accredited higher education institutions.
Information Booster: 1. The Academic Bank of Credit supports flexible learning pathways, enabling students to accumulate credits over time.
2. ABC promotes student mobility by allowing credit transfers between institutions.
3. The facility is designed to enhance lifelong learning opportunities.
4. ABC is a part of the broader initiative to align Indian education with global standards by making learning more modular and flexible.