We continue to see growing demand for the CFA Program in India, especially for new Level I (NL1) candidates.

We recognize that we have an opportunity improve the candidate experience, build on this demand, and grow our network of CFA^® Program candidates and CFA charterholders in India. To expand the accessibility of CFA exams, we have added test centers and introduced a flexible payment option for candidates in India.

Flexible Payment Option

Against economic conditions in the country, CFA Program registration and enrollment fees have created an especially difficult barrier for candidates interested in pursuing the CFA Program. Most of the prospective and NL1 candidates in India are students with no income who rely on their parents or others to finance their education. In addition, an average credit card limit in India is two or three times the average monthly gross salary. The lack of other payment options has made it even more difficult for aspiring candidates to register for the CFA Program.

To address these unique circumstances, CFA Institute has introduced an equated monthly installment (EMI) payment option for candidates in India. Through an arrangement with Eduvanz, a third-party agency, eligible CFA Program candidates in India will have the option to pay their exam fees in monthly installments at low interest rates. Although other loan options are already available to CFA Program candidates, in this instance, Eduvanz will help streamline the process for CFA candidates by offering quick approvals and direct payments to CFA Institute. Candidates can learn more about this option on our enterprise website.

New Test Centers

We found that our NLI registrations in India were growing at a faster rate in cities where we did not have test centers. We also found that exam accessibility is a factor in whether candidates decide to enroll in the CFA Program, especially post pandemic. To make the CFA Program more accessible to candidates in India, we must expand our testing footprint.

In FY23, we increased the number of test centers in India from 12 to 16, with further expansions planned in the years to come. This expansion will not only allow us to serve more candidates in more markets but also improve candidates’ test-taking experiences by reducing time and transportation costs associated with sitting for the exam.

How do we determine whether—and where—a new test center will be added? Test center locations are reviewed annually. We are contractually limited to expanding by 20 test centers per year. New test center locations are identified based on the mission of CFA Institute, candidate demand, and the needs of the region. You can share your test center requests with your relationship manager; please do not reach out to Prometric directly to inquire about opening a test center in new locations.