It is Globally Recognised.It helps you in Many ways. I will put it like this.
Investment Baking is all about Investment decisions ( Also Includes M&A activities)
Investment is Based on various Risk and return Parameters ( We need to analyse Risk And Returns)
Analysis and projection of return is very simple but it is not the case when it comes to return. Lots of Mathematical and statistical calculations are required.
FRM is completely focussed on Risk Management and it is the Best certification/cource in this field. PRM is also in picture but not that popular.
In Quanitative terms, CA syllabus risk management is covered in Porfolio Mmnt,Derivatives and International Finance ( not more than 100 Pages). It does not talks about the BASEL II at all but FRM covers Risk Management in 3000+ Pages. Like the IFRS is hyped in Accounting Field, BASEL II is the buzzword in Banking and Risk management.
I am sure that Many of CAs does not know about FRM coz they all are concentrating more on Audit TAx and accounting.BUt it will add great value to ur CV......
I am sure that there will be a madrush for FRM within 2-3 years ....Best thing is to get certified before that ...
Ask me if u have any othe r doubts.