Hi Sandeep,
In addition to the information given by Rob, if you have activated ISHERCM_EXT_RULECHECK business function (you have to have ERP 6.0 running for this function if I remember well), you can define rules per program of study or per module group.
The rules then will apply to all the modules assigned to related program of study or module group.
In your case, you have to decide hierarchy level for rule definitions