The pending litigation between CFA Institute and the All India Council for Technical Education (AICTE) has been resolved, enabling the global association for investment professionals to once again administer the CFA programme in India.
CFA Institute challenged before the Delhi High Court a 2007 AICTE order prohibiting the CFA programme in India. At a hearing held on April 17, 2012, the AICTE declared that its executive committee had concluded that the existing AICTE regulations do not apply to the CFA programme.
John Rogers, CFA, president and CEO of CFA Institute, says, “We welcome the decision of the AICTE and we appreciate the AICTE's additional review. CFA Institute is very pleased to clear this uncertainty over the CFA programme for the benefit of all Indian candidates.”
“Candidates can now freely register for the exam in India in order to gain the CFA designation, which is widely recognised as the global gold standard for professional designation in the financial industry,” Rogers says.
“We look forward to the continued growth of the CFA programme in India, and our contribution to the growth and development of India's financial markets,” he adds. In the fiscal year 2011, there were more than 20,400 exam registrations in India, which is one of the largest markets globally.