If you have never heard the word 'CFA', the following paragraph is for you :
CFA stands for Chartered Financial Analyst. First awarded in 1963, the CFA charter is the designation of professional excellence within the global investment community. The CFA Program offers a truly global educational challenge where you'll build a fundamental knowledge of investment principles that is relevant in every market around the world. Employers and investors know the CFA charter is the definitive standard for measuring portfolio management and investment analysis competence and integrity.
[Copied from the CFA institute website]
It is a must-do, in the calendar of MBA students whose career interests lie in financial analysis, research, marketing, or investment banking. Most of the students take it, not willing to lose the competitive differentiator every other Finance Student in the college has.
You will understand it once u read through these events
- On 4th August 2006, the Delhi high court ordered Hyderabad-based Icfai University to stop using the Chartered Financial Analyst and CFA trademarks.
- On the petition of the Icfai through its university in Tripura, the Guwahati High Court directed AICTE to determine whether CFA Institute must seek approval for its CFA Program from the AICTE. [See the Icfai went to Guwahati knowing that the representatives from this Global institute would think twice before coming to such a far away location]
- AICTE, just 2 weeks before the June 3 exams[for which students were preparing for a year] has asked CFA institure to cease operations in India. Read the letter sent out by AICTE to CFA institute.
Update: Surprisingly, this news found itself in the front page of the Economic Times - "AICTE asks CFA to stop executing"
Another mention on CNN-IBN about this issue - "CFA course ban hits students hard"
Thank God! That atleast Indian media is not sleeping. :)