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IFSCA Grade A Overview

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IFSCA Grade A Notification 2024

IFSCA (International Financial Services Centres Authority) has announced the vacancies of 15 Assistant Managers. This is a golden opportunity for aspirants who are looking for a government job. Online application restarted from 06th June to 14th June 2024. A total of 15 vacancies have been announced for IFSCA Grade A posts. We are providing you with the direct link to apply for these vacancies.

IFSCA Grade A Notification 

The notification of IFSCA Grade A was announced on the official website. IFSCA (International Financial Services Centres Authority) 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.

IFSCA Notification 2024 Overview

OrganizationInternational Financial Services Centres Authority
Exam NameIFSCA Exam 2024
PostAssistant Manager
Vacancy15
CategoryGovernment Jobs
Selection ProcessPhase I, Phase II, Interview
Application ModeOnline
Official Websitehttps://www.ifsca.gov.in

IFSCA Grade A Important Dates

All the important dates related to IFSCA Grade A are mentioned below: 

IFSCA Grade A Recruitment 2024 Important Dates
EventsPrevious DatesReopens Date
IFSCA Grade A Recruitment Notification27th March 202427th March 2024
Start Date of Apply Online28th March 20246th June 2024
Online Application Last Date08th May 202414th June 2024
Last Date to Print Online Application Form23rd May 202429th June 2024
IFSCA Grade A Phase I Exam DateTo be NotifiedTo Be Updated Soon
IFSCA Grade A Phase II Exam DateTo be NotifiedTo Be Updated Soon
IFSCA Grade A Interview DateTo be NotifiedTo Be Updated Soon

IFSCA Grade A Vacancies

Category Vacancy
UR3
EWS2
OBC3
SC1
ST1
Total10

IFSCA Grade A Eligibility Criteria

Aspirants should ensure that they meet all the eligibility criteria before applying online.

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.

Age Limit (as on 01.02.2024)

Maximum: 30 years as on February 1, 2024

Note: The maximum age limit is subject to the below relaxation-

  • 5 years for SC/ST
  • 3 years for OBC 

IFSCA Grade A Selection Process 2024

Phase I (Online examination consisting of two papers of 100 marks each) => Phase II (online examination consisting of two papers of 100 marks each) => 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 May/June 2024 (tentatively). The exam will consist of:

PaperStreams/ SubjectsMaximum MarksDurationCut off

Paper 1 (Common

for both

streams)

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 2General Stream 
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)
Legal Stream
Multiple choice questions on Specialized subject related to stream (Please refer Annexure 2)
  100  60 minutes  40%
 Aggregate Cut off  40%

Note:

  1. There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2 in Phase I.
  2. 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.
  3. 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.
  4. 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.
  5. 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 May 2024 (tentatively). The papers shall be as follows:

Paper Maximum MarksDurationCut offWeightage

Paper 1 (Common

for both

Streams)

English (Descriptive Test)
Precis Writing – 35 marks
Essay writing – 30 marks
Comprehension- 35 marks
10060minutes30%1/3rd
Paper 2

General Stream
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)
Legal Stream

Multiple choice questions on Specialized subject related to stream (Please refer Annexure 2)

  10060minutes  40%  2/3rd
 Aggregate Cut off  40% 

Note:

  1. Candidates shortlisted for Phase II will be issued new Hall Tickets.
  2. There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II
  3. 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.
  4. 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.
  5. 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.
  6. 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 Online Application

Online application has been restarted from 06th June to 14th June 2024. Applications will be accepted only when you have applied online and have paid the application fee. 

Steps to Apply Online For IFSCA Grade A Notification 2024

  1. Visit the official website of IFSCA by clicking the above link
  2. Enter the asked details- Your name, email, and mobile number
  3. A provisional registration number and password will be sent to your registered Email and Mobile number
  4. On receiving the registration no. and password, log in with those details to complete the application procedure
  5. Fill up the personal, academic details, and communication details carefully
  6. Upload the photograph, signature, Left Hand Thumb Impression, and other required details
  7. Verify the details entered in the form before paying the application fee
  8. Pay the required application fee
  9. Your application form for IFSCA Recruitment 2024 will be accepted provisionally.

IFSCA Grade A Application Fee 2024

Category of ApplicantAmount of Fee (Non-refundable)
Unreserved/OBC/EWSsRs. 1000/- as application fee cum intimation charges
SC/ STRs. 100/- as intimation charges

IFSCA Grade A Salary 2024

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

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.

IFSCA Grade A Syllabus 2024

IFSCA Grade A Syllabus for Paper 2 of Phase I in General Stream

1. General knowledge, Current events of national and international importance

2. Economic and social development (sustainable development, poverty, inclusion, and

demographics)

(i) Growth and Development

a) Measurement of growth: National Income and per capita income

b) Poverty Alleviation and Employment Generation in India

c) Sustainable Development and Environmental issues.

(ii) Social Structure in India

a) Multiculturalism

b) Demographic Trends

c) Urbanisation and Migration

d) Gender Issues – Social Justice

3. Commerce and Accountancy

(i) Accounting as a financial information system;

(ii) Accounting Standards with specific reference to Accounting for Depreciation,

Inventories, Revenue Recognition, Fixed Assets, Foreign Exchange Transactions,

Investments.

(iii) Cash Flow Statement, Fund flow statement, Financial statement analysis; Ratio

analysis;

(iv) Accounting for Share Capital Transactions including Bonus Shares, Right Shares.

(v) Employees Stock Option and Buy-Back of Securities.

(vi) Preparation and Presentation of Company Final Accounts

4. Management

(i) Management: its nature and scope; The Management Processes; Planning,

Organization, Staffing, Directing and Controlling;

(ii) The Role of a Manager in an Organization. Leadership: The Tasks of a Leader;

(iii) Leadership Styles; Leadership Theories; A successful Leader versus an effective

Leader.

(iv) Human Resource Development: Concept of HRD; Goals of HRD;

(v) Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate;

Concept of Morale; Factors determining morale; Role of Incentives in Building up

Morale.

(vi) Communication: Steps in the Communication Process; Communication Channels;

Oral versus Written Communication; Verbal versus non-verbal Communication;

upward, downward and lateral communication; Barriers to Communication, Role of

Information Technology.

(vii)Corporate Governance: Factors affecting Corporate Governance; Mechanisms of

Corporate Governance

5. Finance

(i) Financial System

a) Role and Functions of Regulatory bodies in Financial Sector.

(ii) Financial Markets

a) Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions,

instruments, recent developments.

(iii) General Topics

a) Basics of Derivatives: Forward, Futures and Swap

b) Recent Developments in the Financial Sector

c) Financial Inclusion- use of technology

d) Alternate source of finance, private and social cost-benefit, Public-Private

Partnership

e) Direct and Indirect taxes; Non-tax sources of Revenue, GST, Finance

Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act

(FRBM),

f) Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI,

CPI - components and trends.

g) Financial Risk Management

6. Costing

(i) Overview of Cost and Management Accounting - Introduction to Cost and

Management Accounting, Objectives and Scope of Cost and Management

Accounting.

(ii) Methods of Costing - Single Output/ Unit Costing, Job Costing, Batch Costing,

Contract Costing, Process/ Operation Costing, Costing of Service Sectors.

(iii) Basics of Cost Control and Analysis - (i) Standard Costing, (ii) Marginal Costing, (iii)

Budget and Budgetary Control.

(iv) Lean System and Innovation:-

a) Introduction to Lean System

b) Just-in-Time (JIT)

c) Kaizen Costing

d) 5 Ss

e) Total Productive Maintenance (TPM)

f) Cellular Manufacturing/ One-Piece Flow Production Systems

g) Six Sigma (SS)

h) Introduction to Process Innovation and Business Process Re-engineering (BPR).

7. Indian Economy & Global Economy

(i) Demand and Supply, Market Structures, National Income: Concepts and

Measurement, Classical & Keynesian Approach Determination of output and

employment, Consumption Function, Investment Function, Multiplier and

Accelerator, Demand and Supply for Money , IS – LM, Inflation and Phillips Curve,

Business Cycles

(ii) Balance of Payments, Foreign Exchange Markets, Inflation, Monetary and Fiscal

Policy, Non-banking Financial Institutions.

(iii) Role of International Financial Institutions: BIS, IOSCO, IMF & World Bank.

8. Central Government's initiatives/ Schemes in the financial sector.

IFSCA Grade A Syllabus for Paper 2 of Phase II in General Stream

1. IFSCA Act, IFSCA, IFSC, GIFT IFSC, GIFT City and Global Financial Centres

2. Union Budget — Concepts, approach and broad trends & Economic Survey

3. Banking

(i) Structure and Functions of Financial Institutions

(ii) Functions of Reserve Bank of India

(iii) Banking System in India – Structure and Developments, Financial Institutions –

SIDBI, EXIM Bank, NABARD, NHB, NaBFID etc.

(iv) Recent Developments in Global Financial System and its impact on Indian Financial

System

(v) Role of Information Technology in Banking and Finance

(vi) Non-Banking System

(vii)Developments in Digital Payments

4. Capital Market

(i) Role and Functions of Regulatory bodies in Financial Sector.

(ii) Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions,

instruments, recent developments

(iii) Basics of Derivatives: Forward, Futures and Swap

(iv) Spot and Derivative market of Precious Metals

5. Insurance

(i) History of Indian Insurance, principles of Insurance;

(ii) Risk and uncertainty, pooling and diversification of risk, Indemnity and Insurable

interest;

(iii) Legal foundations of Insurance, basics in Group/Health Insurance/Pensions;

Intermediation: role in mobilising savings, evolution of various types and

Bancassurance in India;

(iv) Functions performed by Insurers: Product design, pricing, distribution, underwriting,

claims, Investment and Reinsurance;

(v) Insurance lines and products: Property-Liability, Life Insurance and Annuities and

Health Insurance; Liability risks and Insurance, valuation and Solvency requirements,

Specialist Insurance lines in India - Agricultural and Export Credit Guarantee;

Reinsurance, GIC of India, obligator sessions and retention of risk within the

Country.

6. Pension Sector

(i) Status of pension sector in India

(ii) Types of retirement schemes in India and their features

(iii) National Pension System

(iv) Atal Pension Yojana

(v) Annuity Plans

(vi) Basics of investment

IFSCA Grade A Syllabus for Paper 2 of Phase I & II in Legal Stream

Phase I

Sl.

No.

SubjectWeightage*
1

Constitution of India – Preamble, Part I, Part III, Part IV, Part IVA, Part V,

Part VI, Part VIII, Part IXA, Part IXB, Part XI.

20%
2

Contract Law – Indian Contract Act, 1872; Sale of Goods Act, 1930;

Indian Partnership Act, 1932; Specific Relief Act, 1963.

25%
3

Code of Civil Procedure, 1908 – (Part I, Part II, Part III, Part IV, Part V,

Part VII, Schedule 1)

25%
4The Limitation Act, 1963
5Transfer of Property Act, 1882 – Chapter III, Chapter IV, Chapter V.
6Arbitration and Conciliation Act, 1996 – Part I
7Administrative Law20%
8Jurisprudence and Interpretation of Statutes
9Important Latin terms and maxims
10Law of Torts and Consumer Protection Act, 201910%

*Weightages are indicative only

Phase II

Sl.

No.

SubjectWeightage*
1

Criminal Law – Indian Penal Code, 1860 (Chapters I, II, III, IV, V, VA, VI, IX, XVII, XXI, XXII, XXIII);

Code of Criminal Procedure, 1973.

30%
2Law of Evidence – Indian Evidence Act, 1872
3

Corporate Law – Companies Act, 2013;

Limited Liability Partnership Act, 2008;

Insolvency and Bankruptcy Code, 2016 (Part I, Part II)

30%
4

IFSCA Act and the following Acts:

  1. The Reserve Bank of India Act,1934
  2. The Insurance Act, 1938
  3. The Banking Regulation Act, 1949
  4. The Securities Contracts (Regulation) Act,1956
  5. The Deposit Insurance and Credit Guarantee Corporation Act, 1961
  6. The General Insurance Business (Nationalisation) Act, 1972
  7. The Securities and Exchange Board of India Act, 1992
  8. The Depositories Act, 1996
  9. The Insurance Regulatory and Development Authority Act, 1999
  10. The Foreign Exchange Management Act, 1999

11.The Credit Information Companies (Regulation) Act, 2005
12.The Government Securities Act, 2006
13.The Payment and Settlement Systems Act, 2007
14.The Pension Fund Regulatory and Development Authority Act, 2013
The Factoring Regulation Act, 2011

40%

*Weightages are indicative only

IFSCA Grade A Exam Centres

Ahmedabad/ GandhinagarHyderabad/ RangareddyNasik
AgartalaIndoreNew Delhi-NCR
Aurangabad (MH)JaipurPanaji
BengaluruKanpurPatna
BhubaneswarKochi/ ErnakulamPrayagraj
Chandigarh/ MohaliKolkata/ Greater KolkataPune
ChennaiLucknowRaipur
CoimbatoreMaduraiRanchi
DehradunMeerutSiliguri
GuwahatiMumbai/ Greater Mumbai/ Navi Mumbai/ ThaneSurat
HaldwaniMuzzafarpurVijayawada
Hubli – DharwadNagpurVishakhapatnam

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.

Exam Date

To be notified

Total Vacancies

15

FAQs

What is the maximum age limit for IFSCA Recruitment 2024? Is there any exemption?

The maximum age limit is 30 years. Exemptions of 5 years is for SC/ST candidates and 3 years is for OBC candidates.

How many vacancies are there for UR category? +

There are 15 vacancies out are there for the UR category.

I’m a CS. Can I apply? +

Yes! If you already have a Bachelor’s degree in commerce, you can apply.

How can I apply for IFSCA 2024 Recruitment? +

Candidates can apply for IFSCA Recruitment 2024 by following the step-wise procedure mentioned.

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