India’s Patkar Varde College achieves IFoA accreditation

28 May 2024

Patkar Varde College, in affiliation with the University of Mumbai, has achieved IFoA accreditation for its Postgraduate Master of Science in Actuarial Science. This will provide successful students with 7 exemptions from the IFoA qualification (specifically CB1, CB2, CM1, CM2, CS1, CS2, and CP1).

This is the first master’s programme in India to be accredited by the IFoA, making Patkar Varde the only college in India with 2 IFoA accredited programmes: the BSc Actuarial Science and Quantitative Finance and MSc Actuarial Science.

Patkar Varde College has emerged as a prominent supporter of actuarial education in the region with over 300 students on its actuarial science programmes. This newly accredited master’s programme contributes to the target set by the government of India to triple the number actuarial students in India over the next 6 years.

Karen Brocklesby, Interim Director of Learning, said: “We are delighted that Patkar Varde College has achieved this IFoA accreditation. This is made even more significant by the fact that it now has two IFoA accredited programmes.

We want to thank the college and its lecturers, and the current cohort of qualified actuaries for collaborating with us throughout this accreditation process.

This accreditation will support our ongoing development of the actuarial profession across India and the growth of accredited programmes delivered in the region.”

Akash Rughnai, Program Director, Institute of Actuarial and Quantitative Studies at Patkar Varde College, said: “It’s a prestigious moment as our MSc program gains accreditation from the IFoA. This milestone will significantly benefit students in India, expediting their professional and academic journey to fellowship.”