CFA vs ICFAI vs ICAI

What am I doing in blogosphere on a Wednesday evening whereas I should have been working in office till late hours slogging my precious little hours for my company? Well the simple reasoning is that I was suppose to take the CFA exam conducted by AIMR, on the coming 3rd June, for which I have taken a well deserved 15 days off (the first set of leaves since I joined in corporate world 2 years back) but hey, shouldn't I have been devoting more hours for my studies, after all isn't CFA suppose to by far one of toughest exams.
But no wait a minute, while planning to take an American exam, I completely forgot to hedge my risk against the fact that I am living in India, a Country of Babudom (an incomparable form of Beaureucracy) politicians and one of the highest ranker in under the table money-exchangers.

So the Babudom has finally struck this time dashing my plans and did this.

http://www.cfainstitute.org/aboutus/worldwide/asiapac/pdf/aicte_letter.pdf

It has put a carte blanche ban on all the activities of CFAI resulting in CFAI asking either to withdraw my candidature or shift my test centre to some other country, nearest being Sri Lanka. So what option I am left with now......mere 10 days in hand to book my ticket to Sri Lanka and check for all the references to get a speedier visa to a war-torn country and forget about studies any further.

Coming back to the red-tapist, autocratic, the manner and timing of the decision of eminent statutory body like AICTE, it is simply baffling to understand the reason to stop the exam just 10 days prior to its due date, suggesting some ulterior motive to help the rival institution. After all aren’t there loads of other institutions operating in the country in full view, taking toll on economy by spending in junk education, on which the similar action should have been taken. Take for example the IIPM, the institute keeps on operating despite being on the list of not approved institution of AICTE but there seems to be inadequate steps taken by the governing body in restoring the order and here is an institution which has been functioning for a long time now and has fought several cases with ICFAI and is fully recognized by higher courts in country and despite never have been on the list of AICTE has been served the notice, overlooking the interest of appearing candidates, investments professionals, business requirements and the whole Investment profession as such.

Interestingly the list put up by AICTE also includes the prestigious Indian School of Business which attracts the best of the talents and Politicians including foreign ones (the Dubya) and prime ministers and Presidents of this country on plethora of occasion, perhaps the reason why AICTE chose not to act against them.

Have a look on the whole list here.

http://www.aicte.ernet.in/download/list-foreign.doc

ICFAI seems to be riding high with their set of legal professional having won 2 cases against the rival institutions CFA and ICAI, though not both in courts, But while doing so they seems to have spread more hatred than the respect they had generated otherwise in past. Take a look on this second case.

http://www.hindu.com/thehindu/holnus/002200705191410.htm

While I find this argument perfectly normal and sensible and court ruling is as expected but it’s their second act of hitting CFA from backside which has been cause of this disrespect.

But as they say market is the always right. This time too I believe it will give its verdict perfectly. Its time to wait for the verdict and go for better utilization of my remaining leaves.

finoxymoron but why

Well lets first start with my introduction. I am one who did something (that is MBA) in Finance and Marketing , thought i would make my name in the field of Finance... tried to join a few finance based committees on the campus.... ( the gr8 finance and Investments committee at insti) but couldn't. I will try to share my experience with eveyone with this slightly incovenient but very common medium ....the BLOG.

So thats it..... all the comments and brickbats are most welcome. No one is perfect I am moreso less than others, but one can sure give a try to be.... thats what i am trying to do.
thanx for visiting my page.
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