A.P. Kurian, Chairman AMFI announced the
launching of AMFI Certification examination for agents/brokers in 5 different regional
AMFI examination in Gujarathi, Marathi,Bengali, Tamil and Telugu
The first offering was in Gujarathi and
this will be followed by Marathi, Bengali, Tamil and Telugu. AMFI has taken this
initiative in order to help the agents in small cities and semi urban areas to qualify
themselves. Already examinations in Hindi are offered nationwide, in addition to English.
With this added facility, it is expected that the remaining individual agents would get
themselves qualified before the deadline of September 30, 2003 fixed by SEBI.
Progress of Certification Programme
Giving the details of the progress of
certification programme, Shri Kurian mentioned that the programme was launched in July
2000 on a voluntary basis which has been made mandatory since September 2001. While the
computer based test is conducted by NSE at its 6 centres on all the working days and also
in other selected centers periodically, AMFI has mandated Indian Institute of Capital
Markets (IICM) to conduct manual test since July 2002. So far 305 tests have been
conducted in 90 cities. In addition, AMFI has arrangements with Institute of Banking
Personnel Selection (IBPS), which is conducting tests at 20 centres across the country on
Sundays since January 2003. So far IBPS has conducted 162 tests. Till date 44,000 agent
distributors have appeared for the tests across the country.
Examination Schedule from August 20th to September 30th.
During the period from August 20 to
September 30, 2003, AMFI has made arrangements through IICM in 60 centres and through IBPS
in 21 centres on 3 Sundays to conduct examinations. The schedule of this programme is
given in the AMFI website www.amfiindia.com. In
addition, the 6 centres of NSE will be providing testing facilities on all working days.
Registration With AMFI
Shri Kurian further informed that the agent
distributors qualified as above are also required to register with AMFI in terms of SEBI
circular of November 2002. To facilitate all the agent distributors through out the
country to get registered with AMFI, the services of Computer Age Management Services Ltd.
(CAMS) have been retained who will be accepting the application forms for registration at
23 centres, the list of which is available on the AMFI website. So far 11,000 agents,
brokers including employees of corporate agents have registered with AMFI
Agent distributors, sub-brokers and all
those engaged in marketing of mutual fund schemes are requested to get themselves
qualified and registered with AMFI before September 30, 2003. Thereafter, those who are
not certified and registered with AMFI will not be eligible to do business.