The Times of India, Bangalore – March 29, 2007

Notice puts CFA students’ future in jeopardy

The future of thousands of students enrolled in the Chartered Financial Analysts course offered by the US based Chartered Financial Analysts Institute (CFAI) has been thrown into uncertainty after the All India Council for Technical Education (AICTE) issued a notice to the institute on March 22.

The notice seeks a response within 15 days as to why no action should be taken against the institute for flouting AICTE’s regulations on foreign universities/institutes operating in India.

According to CFAI records, over 7,000 Indian students are enrolled in first of the three level course. These students are scheduled to take the CFA level-I exam in June 2007.

AICTE served the notice following a Gauhati High Court order asking it to find out if the institute has been operating in India in violation of AICTE regulations on foreign institutes. The court was responding to a writ petition filed by the Institute of Chartered Financial Analysts of India (Icfai) University, Tripura against CFAI.

(Extracts)