USA

Hi Saurav,
A Master's degree in Finance or a related field is recommended but not necessary. You can also have an MBA and then opt for PhD in Finance. You must however demonstrate excellent knowledge and quantitative skills, relevant experience and interest in Finance and high level inclination towards research and academics and the given subject. Assuming from your question that you are looking for a Ph.D in USA, please note that you must give the GMAT and TOEFL as a part of the admissions process. Having a FRM will definitely add a value.
Some of the best B-schools you can consider are:
1. NYU Stern.
2. University of Michigan.
3. Eli Broad College of Business.
4. University of Chicago – Booth.
5. University of Illinois at Urbana-Champaign and
6. University of Virginia Darden School of Business.
These are some of the CFA Partner Universities and amongst the most competitive schools.
I would also request @|John64176| to put forward his valuable suggestions here. Hope this helps.

Hi Jonti,
University of Alabama-Birmingham , University of Minnesota-Twin Cities , Johns Hopkins University , University of Illinois Chicago and Indiana University-Blooming-ton are amongst the well known schools in this area.
The minimum admission requirement in most US universities is a bachelor's degree from an accredited school. Majority of the applications are submitted through the Schools of Public Health Application Service (SOPHAS) system or the Healthcare Administration, Management & Policy CAS (HAMPCAS). Additionally candidates must submit GRE scores and TOEFL or IELTS. You must regularly check the university websites for the application process and eligibility criteria ( it varies with universities). Hope this helps. Feel free to write back for any clarification.

Hi Jonti,
International Students willing to apply to Unites States Air force Academy (USAA) must be unmarried, with no dependence and must be a bonafide citizen of India. USAA also state that candidates must not be less than 17 years and must not be higher than 23 years. Additionally, you must have high leadership skills, strong academic records including SAT and TOEFL scores. As a part of the admission procedure you must also meet required physical and medical standards.
Most importantly, you must be in good health and free of any communicable disease. Candidates are also required to pass the Candidate Fitness Assessment. You will find more details on the USAA website.
Hope this helps.

If you intend to study in the United States, you have to plan your move in advance as there are a number of formalities that you need to complete. First, as an international student you will need to take the SAT and the TOEFL exams and there is no exception to this. Since your application process starts sometimes in October-November, you should have taken these tests before that time.
Now comes the most difficult part and that is to identify which university you want to go for your study. I would suggest that you should select colleges and universities such that your list includes your dream university, but it should also include university where you can be sure of admission as well. Admission to American Universities is based on a number of criteria, among them your academic performance from class 9 to class 12, your SAT scores, your essays and finally the letters of recommendations. You should work on these and have a plan for yourself.
Finally, stop thinking that SAT is difficult, at the end a lot of students take the test and do well, so you can also do well if you decide to do it. Don't be swayed by what other say.
Work hard and all the best.