IFSCA Grade A (Assistant Manager)-Detailed Syllabus & Exam Pattern

The International Financial Services Centres Authority (IFSCA) is a statutory regulatory organization created by an Act of Parliament to develop and oversee the financial services sector in India’s IFCs. The IFSC Authority has been given the authority to exercise the functions of the RBI, SEBI, IRDAI, and PFRDA in relation to financial institutions, financial products, and financial services in the IFSC.

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Phase I Online Exam

Paper	Streams/ Subjects	Maximum Marks	Duration	Cut off
Paper 1	Multiple choice questions general awareness (financial sector) -25 questions X 1 mark each English 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%

Note:

For Papers 1 and 2 in Phase I, there will be negative markings (1/4 of the total marks assigned to the question).
In Phase I, there must be a cut-off of at least 30% for Paper 1 (there cannot be a sectional cut-off) and at least 40% for Paper 2.
To be selected for Phase II, candidates must achieve distinct cut-offs for each paper, as specified in (ii) above, as well as an overall exam score of 40%. The shortlisting of candidates for the Phase II examination process will solely use their Phase I marks; they will not be taken into account for the final candidate selection.
All of the candidates who pass Phase I will be shortlisted for Phase II, subject to the criteria indicated in Step 3 above. On the IFSCA website, a list of the applicants chosen for Phase II will be made public.
All test questions, with the exception of the English portion, will be bilingually written in Hindi and English.

Phase II On-Line Examination:

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%

Note:

New Hall Tickets will be distributed to candidates who have been selected for Phase II.
For Paper 2 in Phase II, there will be a negative marking (1/4 of the total marks will be deducted from the question).
In Phase II, there must be a least 30% cutoff for Paper 1 and a minimum 40% cutoff for Paper 2.
To be shortlisted for Phase III, candidates would need to achieve separate cut-offs in each paper as previously specified as well as an overall cut-off mark of 40% in the Phase II exam (weightage of 1/3 for Paper 1 and 2/3 for Paper 2).
In accordance with the aforementioned requirements, applicants who are equivalent to three times the number of openings will be shortlisted in order of merit for Phase III, or the interview. On the IFSCA website, a list of applicants who have been chosen for interviews will be made available.
All test questions, with the exception of the English portion, will be bilingually written in Hindi and English.

Interview:

Only those who have made the shortlist will be contacted for an interview. Candidates who are not selected for Phase II and the interview will not receive their application fee back. The weighted average for Phase II scores will be 85%, while the weighted average for the interview will be 15%.

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SERVICE CONDITIONS/ PAY AND ALLOWANCES:

Probation: The successful applicants hired for the position of Officer Grade “A” will serve a two-year probationary period. Subject to the candidates’ acceptable performance throughout the probationary period, they will be confirmed in the IFSCA’s services.

Pay: 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 the 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..

Benefits: Other benefits include the Leave Fare Concession Program, Medical Expenses Program, Eye Refraction Program, Education Allowance, Financial Dailies Program, Book Grant Program, Briefcase Program, Conveyance Expenses Program, House Cleaning Allowance Program, Staff Furnishing Program, Computer Purchasing Program, Subsidized Lunch Program, and All Other Benefits As Admissible To An Officer In Grade A In IFSCA.

Posting: The incumbent may be posted and relocated to any location where IFSCA has offices, whether that location is in India or abroad. The hired police may be assigned to any IFSCA department.