The study describes the need to have a systematic, at the same time “fit for purpose†rubric that will enable faculty/tutors to assess students’ performance constructively and reliably in Problem-Based Learning (PBL). A four-level assessment rubric having ten- performance objects with descriptors, five each for the two sessions of PBL was developed. Faculty and student feedback in the form of questionnaire was taken to evaluate the process. 81% of faculty reported that the rubric was useful in assessing students and 91% of students felt that it was “very important†that faculty should use the rubric as it reflected authenticity in assesment.