New Delhi: The University Grants Commission (UGC) has instructed universities in the country to initiate measures to launch an academic credit bank in the higher education sector.

Under the academic credit bank system proposed by the New Education Policy, each student would have an exclusive credit account. The student can use this account to change institutions and courses as the credit he or she earned could be retained. In fact, the New Education Policy says that students would find it easier to change colleges after all universities are brought under the academic credit bank.

Meanwhile, UGC Chairman Prof M Jagadesh Kumar has convened a meeting on Thursday to enlighten universities about the procedures involved in setting up the academic credit bank.