IFSCA Grade A Overview

IFSCA Grade A Overview

IFSCA (International Financial Services Centres Authority) has announced the vacancies of 10 Assistant Managers. This is a golden opportunity for aspirants who are looking for a government job. Online application has already started from 28.03.2024 to 21.04.2024. A total of 10 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 March 27, 2024. 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 Overview

IFSCA Grade A Important Dates

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

IFSCA Grade A Vacancies

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

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:

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:

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 already started from March 28 to April 21, 2024. Applications will be accepted only when you have applied online and have paid the application fee. 

Steps to Apply

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.

Application Fee

IFSCA Grade A 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

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

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

*Weightages are indicative only

*Weightages are indicative only

IFSCA Grade A Exam Centres

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.