In a historic move,NDSL has decided to start out Demat Account for Educational Certificates. It has started the process of dematerialising education certificates.NDSL(National Securities Depository Limited) is an arm of depository services provider. This move will help in removing the need of physical authentication of educational certificates during admissions.
Demat Account for Educational Certificates
The only other board who had yet tried this new scheme was CBSE. In a first of its kind, the CBSE shared the exam results of 27 lakh students with NSDL Database Management. The ministry of human resource development had ordered to set up a National Academic Depository (NAD). So as a result of this NSDL Came into action to maintain a database
“We expect all universities and academic institutions of national importance, central universities and school boards to upload the data of examination performance,” said NSDL managing director G V Nageswara Rao.
Benefits of the Demat Account
The new initiative will in a lot of ways smoothen the paper works and admission procedure of the country. Our country which is sprinting towards becoming the youngest country needs such revolutionary methods in the education sector. There are two advantages of the demat account once it goes into full action.
The benefits are two-fold for educational institutions that sign up. First, the task of maintaining a database of exam records over the years gets outsourced. Second, during admissions, the academic institutions can plug into the NAD. This will help in verifying the marks obtained by students in lower-level examinations.
This will eliminate the need for authenticating physical copies of certificates. Similarly, employers can directly access students’ examination records, and do not have to worry about the authenticity of marksheets.However inspite of NSDL getting rid of paper certificates, the academic institutions would continue to issue certificates for some time.
To sign up, each student will have to do the equivalent of a ‘know your customer’ authentication by obtaining an NSDL ID or providing their Aadhaar card. Once this is done, he/she will get an account in which his/her academic qualifications will be stored.
The admission procedures will get a jet speed and also help in removing the clutter and have even better structure and organisation to all the admission process.