Credited as the cheapest course, at Rs 45,000, the Institute of Chartered Accountants of India (ICAI), has set out to promote the course and hold campus placement programmes in various cities.

ICAI, the statutory body for regulation of chartered accountants in India, has set out to place around 5,000 candidates, who completed their chartered accountancy course this July.

"Despite the uncertain economic environment, companies like Vedanta Resources Plc, Tata Consultancy Services Ltd, public sector banks and other multinational companies have confirmed participation in the placements," 

Every year, ICAI organises campus placement programmes twice - in August-September and February-March. The programme is held at 10 small centres and six big centres in the country. The institute has already conducted its placement programme in Jaipur, Ernakulam, Pune, and Ahmedabad. It will be holding its placement programme in Mumbai from September 6 and September 12.

In 2012, around 130 companies participated in the campus placement programme during both the seasons, and 1,500 candidates were offered jobs by leading Indian companies. In 2012, 31 companies recruited 214 chartered accountants in Mumbai.

ICAI charges anywhere between Rs 50,000 and Rs 6,00,000 as placement fee from participating companies. On Day One, if a company participates, it cannot offer a salary package below Rs 8,00,000. "The minimum package a company has to offer our students is Rs 4,00,000," said Prafulla Chhajed, member, central council, ICAI. (Business Standard)