Opening up the gates for access to higher education through Open Education Resources is the need of education reforms today across the world. Information and Communication Technology(ICT) promises to be a possible silver bullet, if harnessed judiciously, to address the triple problem of access, achievement and equity in Higher education. One such effort is the National Program of Technology Enhanced Learning, NPTEL, implemented by seven Indian Institutes of Technology and Indian Institute of Science, Bangalore. A critical study has been carried out on NPTEL and other e-content along with perceptions, aspirations and needs of students and faculty members. Based on this study, a model of a 'Multiversity' has been evolved using principles of 'Service Oriented Architecture'(SOA). Most importantly, the model addresses the need for honing the various dimensions of life in the form of integral education. These include the physical, ethical, intellectual, aesthetic and spiritual dimensions. This is to create and sculpt excellent and humane professionals to inhabit the knowledge societies that the world is moving towards.