Given below are two statements about the Academic Bank of Credit. In the light of the statements, choose the correct answer.

Statement I:The Academic Bank of Credit facility is meant for credit verification, accumulation, transfer, redemption and degree authentication, with students as account holders.

Statement II:The Academic Bank of Credit will be a degree-awarding organisation.

ABoth Statement I and Statement II are true

BBoth Statement I and Statement II are false

CStatement I is true but Statement II is false ✓ Correct

DStatement I is false but Statement II is true

Correct answer: (C) Statement I is true but Statement II is false

Explanation

The Academic Bank of Credit handles verification, accumulation, transfer, redemption and degree authentication with students as account holders, so Statement 1 is true.

Statement 1 is true because the bank works like a digital repository that stores and moves each learner's credits.

Statement 2 is false because the bank itself does not award degrees; that power stays with the higher education institutions.

The bank only certifies and manages credits, while degrees are conferred by recognised universities and colleges.

Students remain the account holders and control how their banked credits are used.

This system underpins the multiple entry and exit pathways introduced in higher education.

Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.

Practise on Mcqkart →🎓 Book an expert →