If you have just finished studying at a top global university, the Indian financial markets may not be the place for you.
This would mean that no foreign-educated analyst is qualified to practice the profession in India until he has acquired at least five years experience. However, a fresher from any Indian university who meets the minimum criteria can start off on day one.
The regulations say that an analyst must have ‘a professional qualification or post-graduate degree or post graduate diploma in finance, accountancy, business management, commerce, economics, capital market, financial services or markets’.
This must come from a university which is recognised by University Grants Commission or similar body. It can include an institute associated with such a university, one which the central or state government has set up, or an autonomous institute under the Government of India’s administrative control. The qualification can also be one which is accredited by the All Indian Council for Technical Education, National Assessment and Accreditation Council or National Board of Accreditation’ or other similar bodies.
An analyst who does not have a post-graduate degree or professional qualification must have five years of financial market experience.
Yogesh Chande, Associate Partner, Economic Laws Practice said that this position can only be modified, if the regulator makes an amendment to the regulations. Interestingly, he added that the draft regulations did allow for foreign qualifications.