CFA Institute resolves AICTE dispute

CFA Institute challenged before the Delhi HC a 2007 AICTE order prohibiting the CFA Program in India

The uncertainty around the CFA examination in India has been solved, with the pending litigation between the CFA Institute and the All India Council for Technical Education (AICTE) being resolved. This has enabled CFA Institute, the global association for investment professionals to administer the Chartered Financial Analyst (CFA) Program in India.

CFA Institute challenged before the Delhi High Court a 2007 AICTE order prohibiting the CFA Program 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 Program.

"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 Program for the benefit of all Indian candidates," said John Rogers, CFA, President and CEO of CFA Institute.

He added that candidates can now freely register for the exam in India in order to gain the CFA designation. There have been more than 20,400 exam registrations in India in fiscal year 2011, which is one of the largest markets globally.