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.
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:
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:
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%.
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.
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