The National Education Policy (NEP) 2020 (hereafter referred to as NEP or Policy) recognises that higher education plays an extremely important role in promoting human as well as societal well- being and in developing India as envisioned in its Constitution - a democratic, just, socially conscious, cultured, and humane nation upholding liberty, equality, fraternity, and justice for all. It notes that “given the 21st century requirements,quality higher education must aim to develop good, thoughtful, well-rounded, and creative individuals” and enable an individual to study one or more specialised areas of interest at a deep level, and also develop capabilities across a range of disciplines including sciences,social sciences, arts, humanities, languages, as well as professional, technical, and vocational subjects. The NEP 2020 envisages the revision of the Choice Based Credit System (CBCS) for instilling innovation and flexibility. It also envisages setting up of facilitative norms for issues, such as credit transfer, equivalence, etc., and moving towards a criterion-based grading system that assesses student achievement based on the learning goals for each programme, and moving away from high-stakes examinations towards more continuous and comprehensive evaluation. The policy supports the establishment of an Academic Bank of Credit (ABC) which would digitally store the academic credits earned from various recognized HEIs so that the degrees from an HEI can be awarded taking into account the credits earned.