The Union Cabinet on Thursday approved the setting up of a National Academic Depository (NAD), which will be a bank of all digitised education records from school onward. Like company shares, school leaving certificates, mark sheets, degrees, diplomas will be converted to de-mat format by by National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL)
The Cabinet decided that the depository would be established in three months and cover almost all education institutions by 2017-18. “Requests for access to academic awards, for example, from potential employers and academic institutions would be only on the basis of consent of the student,” a government press release stated.
NAD was announced by Finance Minister Arun Jaitley in his budget speech this year. HRD Minister Prakash Javadekar said it would address the problem of fake certificates to a great extent.
The depository was first announced by the UPA II government, but it could not get the Bill passed in Parliament.