IFSCA is a statutory regulatory body established by an Act of Parliament, to develop and regulate the financial services market in the International Financial Services Centres in India. The IFSC Authority has been empowered to exercise the powers of RBI, SEBI, IRDAI and PFRDA in respect of financial products, financial services, and financial institutions in the IFSC.
IFSCA Grade A 2023- Important Dates
| Activity | Important Dates |
| On-Line Application and Payment of fee On-Line | 11.02.2023 to 03.03.2023 |
| Availability of Call Letters on IFSCA website (forOn-Line Examinations) | Will be intimated by email/SMSone week before the exam |
| Phase I On-Line Examination | March/ April 2023 |
| Phase II On-Line Examination* | April/ May 2023 |
| Phase III Interview | Dates will be intimated |
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IFSCA Grade A 2023- Vacancies
| UR | OBC | SC | ST | EWS | Total |
| 10 | 5 | 3 | 1 | 1 | 20 |
IFSCA Grade A 2023- Eligibility Criteria
Age Limit
As on Feb 1, 2023
A candidate must not have exceeded the age of 30 years as on February 1, 2023.
Upper Age Relaxation is relaxabe:
- 5 years for SC/ST
- 3 years for OBC
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Educational Qualification
Master’s Degree with specialization in Statistics/ Economics/ Commerce/ Business Administration (Finance) / Econometrics.
or
Bachelor’s degree in Information Technology/ Computer Science/ Master’s in Computer Application/ Information Technology.
or
Bachelor’s degree in commerce with CA, CFA, CS, ICWA.
or
Bachelor’s degree in Law or in any other discipline from a recognized University.
IFSCA Grade A 2023- Selection Procedure
Phase I (Online Exam) => Phase II (Online Exam) => Phase III (Interview)
Phase I Online Exam
An online screening examination consisting of two papers (Multiple Choice questions of 100 marks each) will be held in March/April 2023 (tentatively). The exam will consist of:
| Paper | Streams/ Subjects | Maximum Marks | Duration | Cut off |
| Paper 1 | Multiple choice questionsGeneral awareness (financial sector) -25 questions X 1 mark eachEnglish language – 25 questions X 1 mark each Quantitative Aptitude – 25 questions X 1 mark each Test of Reasoning- 25 questions X 1 mark each | 100 | 60 minutes | 30% |
| Paper 2 | Multiple choice questions on General knowledge, Current events of national and international importance, Economic and social development (sustainable development, poverty, inclusion, and demographics), Commerce, Accountancy,Management, Finance and costing, Indian Economy, Global Economy, Five-year plans, Central Government’s initiatives/ Schemes in the financial sector.(50 questions X 2 marks each) | 100 | 60 minutes | 40% |
| Aggregate Cut off | 40% |
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Note:
- There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2 in Phase I.
- There shall be a cut-off of minimum 30% for Paper 1 (no sectional cut-off shall be there) and a cut-off of minimum 40% for Paper 2 in Phase I.
- Candidates would need to secure separate cut-off in each paper as mentioned at (ii) above as well as aggregate cut-off marks of 40% in Phase I exam to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for Phase II examination process and will not be counted for final selection of the candidates.
- Subject to the criteria mentioned at 3 above, all the candidates who clear Phase I shall be shortlisted for Phase II. List of candidates shortlisted for Phase II will be made available on IFSCA website.
- All question papers except the test of English will be set bilingually in Hindi and English.
Phase II On-Line Examination:
An on-line examination consisting of two papers of 100 marks each will be held in April/ May 2023 (tentatively). The papers shall be as follows:
| Paper | Maximum Marks | Duration | Cut off | Weightage | |
| Paper 1 | English (Descriptive Test)(a) Precis Writing – 35 marks(b) Essay writing – 30 marks(c) Comprehension- 35 marks | 100 | 60minutes | 30% | 1/3rd |
| Paper 2 | Multiple choice questions on subjects like IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City, GIFT IFSC, IFSCA, Global Financial Centres etc.(50 questions X 2 marks each) | 100 | 60minutes | 40% | 2/3rd |
| Aggregate Cut off | 40% |
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Note:
- Candidates shortlisted for Phase II will be issued new Hall Tickets.
- There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
- There shall be a cut-off of minimum 30% for Paper 1 and a cut-off of minimum 40% for Paper 2 in Phase II.
- Candidates would need to secure separate cut-off in each paper as mentioned above as well as aggregate cut-off marks of 40% in Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase III.
- Subject to the criteria mentioned above, candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview. List of candidates shortlisted for Interview will be made available on IFSCA website.
- All question papers except the test of English will be set bilingually in Hindi and English.
Phase III- Interview
Only the shortlisted candidates will be called for interview. Application fee shall not be refunded to the candidates not shortlisted for Phase II and Interview. Weightage of marks obtained in Phase II will be 85%, while marks obtained in interview shall be given a weightage of 15%.
IFSCA Grade A 2023- Salary
The pay scale of officers in Grade A is Rs. 44500- 2500(4)- 54500- 2850(7)- 74450-EB- 2850(4)- 85850- 3300(1)- 89150 (17 years). Presently, the gross emolument including IFSCA’s Contribution towards National Pension Scheme (NPS), Grade Allowance, Special Allowance, Dearness Allowance, Family Allowance, Local Allowance etc. at the minimum of this scale is approx. Rs. 1,43,000/- p.m. Other benefits viz., Leave Fare Concession, Medical Expenses, Eye Refraction, Education Allowance, Financial Dailies, Book Grant, Briefcase, Conveyance Expenses, House Cleaning Allowance, Staff Furnishing Scheme, Scheme for Purchasing Computers, Subsidized Lunch Facility and all other benefits as admissible to an Officer in Grade A in IFSCA.
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IFSCA Grade A 2023- Exam Centres
| Ahmedabad/ Gandhinagar | Hyderabad/ Rangareddy | Nasik |
| Agartala | Indore | New Delhi-NCR |
| Aurangabad (MH) | Jaipur | Panaji |
| Bengaluru | Kanpur | Patna |
| Bhubaneswar | Kochi/ Ernakulam | Prayagraj |
| Chandigarh/ Mohali | Kolkata/ Greater Kolkata | Pune |
| Chennai | Lucknow | Raipur |
| Coimbatore | Madurai | Ranchi |
| Dehradun | Meerut | Siliguri |
| Guwahati | Mumbai/Greater Mumbai/Navi Mumbai/Thane | Surat |
| Haldwani | Muzzafarpur | Vijayawada |
| Hubli – Dharwad | Nagpur | Vishakhapatnam |
Note:
- Candidates can provide their preference of upto three centers for Phase I and one center for Phase II in the online application.
- The choice of Center by candidates for Phase I and Phase II Examinations can be different and must be indicated in the online application.
- Candidates will appear for the examination at an Examination Centre at their own risks and expenses. IFSCA does not make any arrangements for boarding/lodging of candidates. IFSCA will not be responsible for any injury or losses etc. of any nature during the course of Examination.
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IFSCA Grade A 2023- Application Fee
| Category of Applicant | Amount of Fee (Non-refundable) |
| Unreserved/OBC/EWSs | Rs. 1000/- as application fee cum intimation charges |
| SC/ ST | Rs. 100/- as intimation charges |
IFSCA Grade A 2023- Official Notification
Download the Official Notification Here!
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