Typical answer will be 'it depends'.
Straight answer will be: give something compelling to the schools so that they become very keen to get you in their class; do not be a commodity candidate; no component in itself, be it CFA L3, be the reason of a scholarship; select schools wisely—those that will get you where you want to go, are Indian-friendly and where you may be a compelling candidate despite being ORM.
Any more advise and I will have to charge you

Best wishes.
balaganapathi
Hi Dee! Thank you for taking time and reviewing my profile! Will definitely keep in mind the score range as I prepare for GMAT FE. I guess I'll have to find more time and get started on ECs and Hobbies.
CFA L3 surely aligns with my long-term plans, so feel it'll not be a bad idea to pursue it - one quick question on this is, could that help with scholarships?
TIA
dee1pug1
For an Indian male engineer, 645 in GFE is not enough, and even more so for M7/T20. You need to aim for a 705+ just to get into the consideration set. Since you have a runway of another 3-4 years of career before you start the MBA, consider the following (besides the GFE target):
- Have a clear view on your long-term destination
- Every decision / career change you make needs to be aligned; do not, I repeat, do not pursue earnings in lieu of learnings
- Build your profile; not having ECAs during UG is okay; not having them now is not okay; you would still have some interests existing; pursue them and strengthen them
- CFA L3 in itself won't get you admitted to MBA, especially if it comes across as a badge collection act; otherwise it is a great add-on if it aligns with your long-term destination