Union Cabinet approves establishment of National Academic Depository

Oct 28, 2016 08:11 IST

The Union Cabinet on 27 October 2016 gave its green signal for establishment and operationalisation of a National Academic Depository (NAD).

The National Academic Depository aims at bringing another dimension and enhancement of the vision of Digital India.

The Budget Speech of 2016-17 of the Finance Benefit, Arun Jaitley, incorporated the 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.

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Key highlights of the National Academic Depository

The NAD will be established and operationalised within the next three months.

It will be rolled out throughout the country in 2017-2018.

It will 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 will 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.

It will verify academic awards online on the same day of request initiated by any authorized user.

It will 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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Read more Current Affairs on: NAD , National Academic Depository , Arun Jaitley , Union Cabinet , Education

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