The Indian higher education system is one of the largest of its kind in the world. In spite of several built-in quality controls, such as the University Grants Commission's guidelines and the affiliating functions of the university, a deterioration in the quality of higher education was a serious concern for all stakeholders. In 1994 India established the National Assessment and Accreditation Council (NAAC) to ensure and enhance the quality of Indian higher education and also to play an international role as a quality assurance agency. The NAAC has been able to make its assessment and accreditation process acceptable to the institutions and academia through an intensive awareness campaign and academic interactions involving various universities, colleges, state higher education councils and other academic forums. However, it is equally important to obtain continuous feedback from the beneficiaries in the field to determine the effectiveness and enhance the efficiency of the organization. The present study shows that in the 10 years of its existence the NAAC has earned a lot of goodwill and appreciation from the academic community. Simultaneously, it also suggests a need for incessant effort on the part of the NAAC to strengthen and fine-tune its processes and procedures.