IFSCA Grade – A Examination – All Details

IFSCA Exam Grade A Examination is conducted for the post of Assistant Managers by the International Financial Services Centres Authority (IFSCA). IFSCA is a statutory regulatory body established with a view to developing and regulating the financial services market in the International Financial Services Centres in India. The official notification for 20 Vacancies has already been released on the website on 11th of Feb 2023. Click the link below to visit the site

IFSCA Grade A Official Notification Advertisement

 Let’s throw a bird’s eye view at the whole process of examination. 

IFSCA Grade A Examination Pattern

Eligibility

Educational Qualification:

• a) Master’s Degree with specialization in Statistics/ Economics/ Commerce/ Business Administration (Finance) / Econometrics.

• b) Bachelor’s degree in Information Technology/ Computer Science/ Master’s in Computer Application/ Information Technology.

• c) Bachelor’s degree in commerce with CA, CFA, CS, ICWA.

• Bachelor’s degree in Law or in any other discipline from a recognized University.

A Post Graduate Diploma in any discipline recognized as equivalent to a Master’s Degree in that discipline by Govt. of India is acceptable.

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Age:

The age limit is 30 yrs. There are relaxations for OBC/SC/ST/PwBD as per government guidelines.

Nationality:

The candidate should be a citizen of India.

Syllabus

Syllabus of IFSCA Grade A Examination consists of Phase I, Phase II and Phase III which is interview. For Phase I and Phase II, the mode of examination is online.

Phase I

Phase I consists of 2 papers. The pattern is as follows:

Paper 1: Multiple-choice Question
Topics	No of Questions	Marks
General Awareness	25	1 mark each
English language	25	2 mark each
Quantitative Aptitude	25	3 mark each
Test of Reasoning	25	4 mark each

Paper 2: Multiple-choice questions (Total 50 Questions 2 marks each)

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.

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Phase II

Only shortlisted students will be eligible for the Phase II examination. The 2nd phase consists of two papers.

• In the 1st paper candidate’s command of written English is assessed and is descriptive.
• The 2nd paper consists of multiple-choice questions. In this paper candidates’ knowledge of General Awareness regarding finance is evaluated.

Papers		Maximum Marks	Duration	Cut Off	Weightage
Paper 1	English (Descriptive Test) (a) Precis Writing – 35 marks (b) Essay writing – 30 marks (c) Comprehension- 35 mark	100	60 minutes	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	60 minutes	40%	2/3rd
	Total Cut Off	40%

Interview

Only shortlisted candidates will be called for the interview. The weightage of marks obtained in Phase II will be 85%, while marks obtained in the interview shall be given a weightage of 15%.

Pay Scale for IFSCA Grade A

The pay scale for IFSCA Grade A officers is Rs. 44500- 2500 (4)- 54500- 2850 (7)- 74450- EB- 2850 (4)- 85850- 3300 (1)- 89150 (17 years). The gross pay is Rs. 1,43,000/- per month.

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Takeaways

The first phase of the IFSCA Grade A Examination 2023 is over. The second phase of the examination is scheduled for 13 May 2023. Reading newspapers like The Economic Times can be highly beneficial. In this phase the focus will be on descriptive English & General Awareness regarding Finance. However, in a short span of time, regular practice of MCQs & assessments along with regular mock tests can speed up your preparation. Try our FREE Mock Test for IFSCA Grade A Examination.

FAQs concerning IFSCA Grade A Examination

Q. Is there any negative marking in IFSCA Grade A Examination?

A. Yes, there is negative marking in IFSCA Grade A Examination. For objective questions, in the first phase of examination, it’s 1/3rd of the marks assigned to the question while in the second phase, 2/3rd of the marks is deducted. For English descriptive paper in the second phase of examination it’s 1/3rd of the marks assigned to the question.