The Times of India, New Delhi – March 29, 2007
CFAI students in limbo after institute gets notice
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.
CFAI has been running the course in India since 1995. According to its records, over 7000 Indian students are enrolled in first of the three-level course alone. These students are scheduled to take the CFA level-1 exam in June 2007.
The cost of the program till the completion of level, including a one-time registration fee is $ 780 if a student is registered by March 15, 2007. It goes up to $1,155 for registrations made till September 17, 2007.
AICTE served the notice following a Guwahati HC 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.
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