CFA body gets provisional yes for exams in India

The Delhi High Court has given 'provisional permission' to the US-based Chartered Financial Analyst (CFA) Institute to register candidates for its exam slated to be held in India this June.

“There was a change in the bench hearing our matter at the high court. The court had indicated that if the verdict comes before the June 2010 exams and if it's not in our favour, we might have to cancel the examination,” explained Ashvin Vibhakar, Managing Director of Asia Pacific Operations, CFA Institute.

In December 2007, the Delhi HC had dismissed the CFA Institute’s petition against the All India Council for Technical Education (AICTE), stating that the former should seek the latter’s approval to operate in India. Following this, the CFA Institute decided to approach AICTE in January 2008 to do so. Simultaneously, it appealed to a division bench of the HC against the order.

In the event of a cancellation, CFA Institute has notified the candidates registered for an India test centre, the institute would either refund fees or suggest a test centre outside India.

However, adding: “We urge any candidates considering an India test centre to be aware of the risks, and to carefully consider the uncertainty of the situation. All test centres have limited seats, and test centre change requests are granted on a first-come, first-served basis. This means that if a candidate requests a test center change, the requested test centre may not be available if it is already at capacity,” the institute had told candidates in a note on its website.

The institute has already reached capacity at its test centre in Kathmandu, Nepal, for the June 2010 exam. Around 14,500 students applied for the 2009 CFA exam registrations (including the December 2008 and June 2009 exams). The number of registrations for the year 2010 CFA exam (including the December 2009 & June 2010 exams) would be finalised after March 17, 2010, the deadline.