Hello, Anupam
Yes, It is valid. you are eligible for admission in engineering colleges and you can also appear in Central and State government jobs. Candidate passed 12th from a recognized board are eligible to appear in the entrance examination. Bihar Board of Open Schooling Examination is a recognized board.
Some private colleges do have a restriction for admission for BBOSE candidates, but it is a recognized board and is accepted for admission in most of the colleges.
Hope this is helpful, All the best!
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