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Yes, as you have completed your Masters, you are eligible to apply for the UGC NET Exam. As per the guidelines of the UGC NET the distance learning courses are acceptable, but the University must be approved by AICTCE or AIU.

You must have secured minimum 55% for General category or 50% for OBC/SC/ST/ Transgender category candidate is the required educational qualification.

NTA will soon start the apply online process. After fulfilling all the eligibility criteria you can fill the form.