Introduction: The medical council of India has released a new curriculum for medical undergraduate students titled __ampersandsignldquo;Competency-based UG Curriculum for the Indian Medical Graduates__ampersandsignrdquo;. This curriculum which bestows outcome-based strategy is implemented to improve the quality of medical education thereby providing more efficient future doctors. Objectives: To assess the knowledge, attitude and perspectives of students and teaching faculty members of our institution towards the newly implemented MBBS curriculum. Methods: A pre-validated questionnaire in the form of electronic form submission was sent to all the participants online based on inclusion criteria during the study period. The responses were assessed and analyzed. Results: Out of the 885 students and faculty members altogether who had received the questionnaire, only 594 had participated and given their opinions. The knowledge, attitude and perspectives of the participants towards the new curriculum were assessed. Conclusion: The new curriculum is specially designed to make the medical graduates__ampersandsignrsquo; workplace ready and competent. Therefore, to keep up with the global standards, we cannot procrastinate from the implemented curriculum as it is the need of the hour. The awareness, advantages, necessity and outcomes of competency-based medical education can be improved by conducting sensitization programs such as curriculum implementation support programs for all the teaching faculty members. Since, it is difficult to cope up with the sudden transition to the newly implemented curriculum, as it requires tedious planning, downtime, manpower, and changes in the teaching-learning process a hybrid approach can be considered in which the newly implemented CBME curriculum is incorporated into the existing conventional curriculum. This slow transition can allow time for better designing and implementation of the new curriculum as it would provide sufficient breathing space to analyze the advantages and better acceptance of the CBME curriculum among the faculty members which may lead to the evolution of robust change in the quality of medical education.