Education technology (EdTech) is revolutionizing the way we approach financial planning and banking in India. The Financial Planning Standards Board Ltd (FPSB India), the Indian subsidiary of the global standards-setting body for the financial planning profession, and the Indian Institute of Banking and Finance (IIBF) have signed a Memorandum of Understanding (MoU) to create more educational and professional opportunities for aspiring financial planners in India.
Under the terms of the agreement, successful candidates who have acquired the CAIIB qualification from IIBF will be exempt from passing the first three modules of FPSB India’s Certified Financial Planner (CFP) certification program. To qualify for this pathway, applicants must have a valid three-year experience in banking and financial services.
The CFP certification is a globally recognized credential that reflects excellence in financial planning and adherence to stringent competency and ethical standards. It is already employed by over 2,500 CFP professionals in India and is part of a global network of organizations utilizing over 213,000 CFP professionals worldwide.
Krishan Mishra, Chief Executive Officer of FPSB India, said: “This MoU is a crucial moment in India’s financial services sector. It brings together two renowned institutions, FPSB India and IIBF, to promote professionalism and excellence in financial planning. The exemption for CAIIB candidates is a testament to our commitment to recognizing and facilitating the career growth of skilled individuals.”
In addition to the exemption provision, FPSB India will also provide a special discount on the total course fees, examination fees, and other applicable fees to eligible CAIIB candidates who enroll in the CFP certification program under the Challenge pathway.
Biswa Ketan Das, CEO of IIBF, also commented on the collaboration, saying: “IIBF is proud to collaborate with FPSB India to offer a straightforward pathway for CAIIB-qualified professionals to begin a rewarding journey in financial planning. This strategic partnership reflects our commitment to fostering excellence in banking and finance education.”
Furthermore, FPSB India and IIBF plan to further develop their collaboration by organizing joint seminars, webinars, and conferences on various financial planning and other related topics. This agreement will benefit the financial services industry and aspiring financial professionals in India, and is in line with the mission of both organizations to promote education, professionalism, and ethical standards in the financial planning realm.
