The Union Cabinet on October 27 decided that within the next three months, a national academic depository (NAD) which would be on the lines of a security depository, would be set up.
Representational Image. Geekshastra
“The decision aims at bringing another dimension and enhancement of the vision of Digital India, 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.”
The cabinet also said that this depository would be established and operationalised within the next three months and would be available throughout India from 2017-18 onward.
NAD was first mentioned by the Finance Minister earlier this year, when during the Budget speech in February, he had incorporated the commitment to establish a Digital Depository for school.
Representational Image. Indian Express
NAD will also register all educational institutions, boards, eligibility assessment bodies, students and other users such as verifying entities like banks, employer companies, government agencies and academic institutions.
It will provide a person with a digital or a printed copy of their academic award with security features which only the student or other authorised users would be able to access.
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To maximise the security of the feature NAD will maintain its authenticity, integrity and confidentiality and will train and facilitate academic institutions to efficiently lodge these academic awards into their database.