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.

Detailed Syllabus For IFSCA Grade A (Assistant Manager)

Economic and Social Issues

  1. Basics of Economy
  2. Economic Growth and Development
  3. Economic History of India
  4. Economic Planning
  5. Rural & Agrarian Economy of India
  6. Industrial and Services Sector
  7. Balance of Payments
  8. Economic Reforms and Economic Policies
  9. Taxes & Fiscal policy
  10. Inflation & Monetary Policy
  11. Public Finance and Political Economy
  12. Unemployment
  13. Poverty and Poverty Alleviation Programs
  14. Sustainable Development & Environment
  15. International Economic Institutions
  16. Regional Economic Cooperation
  17. Social Structure and Demography of India
  18. Gender Issues
  19. Social Justice
  20. Education
  21. Health

Management

  1. Introduction to Management
  2. Functions of Management
  3. Organizational Behaviour
  4. Organisational Change & Development
  5. Personality
  6. Motivation
  7. Leadership
  8. Communication
  9. Conflict
  10. Human Resource Development
  11. Ethics
  12. Corporate Governance

Finance

  1. Financial Management And System
  2. Indian Financial System and its Regulation
  3. Financial Markets: Capital Market, Money Market and Forex Market
  4. Capital Market
  5. Money Market
  6. Forex Market
  7. Indian Banking System and Global Standards
  8. Alternative Source of Finance
  9. Taxation: Direct, Indirect
  10. Inflation
  11. Recent Developments in Financial Sector
  12. Financial Inclusion

Costing

  1. Overview of Cost and Management Accounting
  2. Material Cost
  3. Labour Cost
  4. Overheads: Absorption Costing
  5. Activity Costing
  6. Cost Sheet
  7. Cost Accounting Systems
  8. Methods of Costing
  9. Cost Control and Analysis
  10. Lean System

Accounts

  1. Basics of Accounting
  2. Accounting As A Financial Information System
  3. Accounting Standards
  4. Cash Flow & Fund Flow Statements
  5. Financial Statement Analysis & Ratios
  6. Accounting for Share Capital Transactions
  7. Employees’ Stock Option and Buy-Back

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Abhishek Tiwari

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