SEBI Grade A Selection Process 2025, Exam Structure for Phase 1 & 2

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Published on 27 November 2025 by

The Securities and Exchange Board of India has released the SEBI Grade A 2025 detailed Notification on 30th October 2025, along with the Online application form for a total of 135 vacancies across various streams.

In this blog, we have provided details about the SEBI Grade A selection process, including information about the phases of the exam and more.

What is SEBI Grade A Exam?

The Securities and Exchange Board of India (SEBI) recruits Grade A Officers through the SEBI Grade A Exam. This is a national-level exam and is considered a good opportunity to join SEBI, one of the important financial institutions in India.

The selection process for SEBI Grade A has three stages. Candidates must successfully clear each stage to move to the next step in the recruitment process. Now that you know what the SEBI Grade A Exam is, let’s look at the complete details of its selection process.

SEBI Grade A Selection Process

Only those candidates who will clear Phase 1 will move to Phase 2 and those who will clear Phase 2 will go for Phase 3 as per SEBI Selection Process. The SEBI Grade A Notification is has been released on 30th October 2025 on the official website. Go through the complete blog to know the detailed SEBI Grade A Selection Process.

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What are the different phases of the SEBI Grade A Selection Process?

The SEBI Grade A selection process consists of three main phases. Phase I is an online screening with two papers: Paper 1 tests General Awareness, English, Quantitative Ability, and Reasoning (100 marks, 60 minutes), and Paper 2 focuses on stream-specific subjects (100 marks, 40 minutes). Candidates need a minimum of 30% in Paper 1 and 40% in Paper 2, with an overall 40% to qualify. Each wrong answer carries a negative mark of ¼.

Phase II is an online exam with Paper 1 as Descriptive English (Essay, Precis, Comprehension – 100 marks, 60 minutes) and Paper 2 covering stream-specific topics through MCQs, descriptive questions, or coding (100 marks). Cut-offs are 30% for Paper 1 and 40% for Paper 2, with an overall 50% required. Negative marking applies for MCQs, and the final weightage is 1/3 for Paper 1 and 2/3 for Paper 2.

Phase III is an interview conducted in Hindi or English, contributing 15% weightage, while Phase II carries 85%. For Legal and Engineering – Electrical streams, candidates can earn up to 3.75 additional marks based on relevant post-qualification experience.

PhaseDetailsKey Points
Phase I Online ScreeningPaper 1: General Awareness, English, Quant, Reasoning (100 marks, 60 min) 
Paper 2: Stream-specific subjects (100 marks, 40 min)		Cut-off: 30% (P1), 40% (P2) 
Aggregate: 40% 
Negative marking: ¼ per wrong answer Qualifying only
Phase II Online ExamPaper 1: Descriptive English (Essay, Precis, Comprehension) – 100 marks, 60 min 
Paper 2: Stream-specific (MCQs/Descriptive/Coding) – 100 marks		Cut-off: 30% (P1), 40% (P2) 
Aggregate: 50% 
Negative marking: ¼ (MCQs) 
Weightage: Paper 1 – 1/3, Paper 2 – 2/3
Phase III InterviewConducted in Hindi or EnglishWeightage: Phase II – 85%,
Interview – 15%
Additional (Legal & Engg. – Electrical)Experience-based marksUp to 3.75 marks for relevant post-qualification experience

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SEBI Grade A Exam Date 2025 Out

The SEBI Grade A Exam 2025 dates have been announced. The Phase 1 exam will take place on 10th January 2026, and the Phase 2 exam is scheduled for 21st February 2026. The admit card for the exam is expected to be released around 10 to 15 days before the exam. The important dates for the SEBI Grade A 2025 exam are as follows:

EventImportant Dates (2025)
SEBI Grade A Notification Release Date8th October 2025 (Short)
30th October 2025 (Detailed)
SEBI Grade A Online Application Dates30th October – 28th November 2025
SEBI Grade A Phase 1 Exam Date (Prelims) 10th January 2026
SEBI Grade A Phase 2 Exam Date (Mains) 21st February 2026

SEBI Selection Process

Now, as we know there are three phases out of which two phases are online written exams, let us have a look at the exam patterns of both the phases below:

SEBI Selection Process – Phase I Exam Pattern

The Phase 1 Exam consist of two papers. Check the detailed pattern below:

PaperStream/Subjects
Paper 1All Streams: MCQs on subjects viz. GA (including some questions related to Financial Sector), English Language, Quantitative Aptitude, and Reasoning.
Paper 2General Stream: MCQs on subjects Commerce, Accountancy, Management, Finance, Costing, Companies Act & Economics.
Legal Stream, Research Stream, Engineering (Electrical) Stream, Official Language Stream and Information Technology Stream: Multiple choice questions on Specialized subject related to stream
  • Phase I is the online screening examination consisting of two papers of 100 marks each.
  • The Paper 1 is for 100 marks to be attempted in 60 minutes and the cut off is 30%.
  • For Paper 2, the maximum marks is 100, the duration is 40 minutes and the cut off is 40%.
  • The aggregate cut off for both the papers will be 40%.
  • Negative Marking: 1/4th for both papers in Phase 1.
  • Marks secured in Phase 1 will not be counted in final selection.

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SEBI Selection Process – Phase II Exam Pattern

The Phase 2 Exam Pattern has been revised by SEBI. The Phase II is further divided into two papers of 100 marks each. The Paper 1 have 1/3rd weightage and Paper 2 have 2/3rd weightage. The aggregate cut off for both the papers is 50%. Check out the stream wise and detailed SEBI Grade A Exam Pattern for Phase 2.

SEBI Phase 2 Paper 1 Exam Pattern (Common)

Here are some of the highlights:

  • No of Questions – 3
  • Maximum Marks – 100
  • Duration – 60 minutes
  • Cut Off – 30%
  • Weightage – 1/3rd
PaperStream/Subjects
Paper 1All Streams: English (Descriptive Test) to test the drafting skills.

Essay – 30 Marks, Precis – 30 Marks and
Comprehension – 40 Marks

SEBI Grade A General Stream Exam Pattern for Phase 2 Paper 2

Here are some of the highlights of SEBI Grade A Exam Pattern for General Stream:

  • No of Questions – 100
  • Maximum Marks – 100
  • Duration – 90 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2General Stream: MCQs on subjects Commerce, Accountancy, Management, Finance, Costing, Companies
Act and Economics.

Here are some of the highlights of SEBI Grade A Exam Pattern for Legal Stream:

  • No of Questions – 70 MCQs & 3 Descriptive
  • Maximum Marks – 100
  • Duration – 120 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2Legal Stream: Objective Section: 70 multiple-choice questions (1 mark each) on specialized subjects.
Descriptive Section: 3 questions of 10 marks each on specialized subjects.
Mode: Answers to be typed on a keyboard.
Hindi Option: Candidates may use either Inscript or Remington (GAIL) keyboard layout.

SEBI Grade A IT Stream Exam Pattern for Phase 2 Paper 2 (Revised)

Here are some of the highlights of SEBI Grade A Exam Pattern for IT Stream:

  • Maximum Marks – 100
  • Duration – 180 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2Information Technology Stream: Multiple choice questions on mix of logic flow completion, debugging, syntax understanding, program dry run outputs, data analysis, etc. 
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SEBI Grade A Research Stream Exam Pattern for Phase 2 Paper 2

Here are some of the highlights of Paper 2 for Research Stream:

  • Maximum Marks – 100
  • Duration – 120 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
Stream/SubjectsNo. of Questions
Research Stream:Descriptive Exam Focus: Tests practical, in-depth knowledge and drafting skills in Economics, Financial Markets, and Statistics.
Mode: Answers to be typed using a keyboard.
Hindi Option: Candidates may use either Inscript or Remington (GAIL) keyboard layout.

SEBI Grade A Official Language Stream Exam Pattern for Phase 2 Paper 2

Here are some of the highlights of SEBI Grade A Exam Pattern for Official language stream:

  • No of Questions – 8
  • Maximum Marks – 100
  • Duration – 90 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2Official Language Stream:
1. एक साधारण पैरा (150 शब्दों का) – अंग्रेजी से हिंदी अनुवाद (20 marks)
2. एक साधारण पैरा (150 शब्दों का) – हिंदी से अंग्रेजी अनुवाद (20 marks)
3. एक तकनीकी या विधिक (Legal/Technical) पैरा – अंग्रेजी से हिंदी अनुवाद (20 marks)
4. एक तकनीकी या विधिक (Legal/Technical) पैरा – हिंदी से अंग्रेजी अनुवाद (20 marks)
5. कार्यालय में उपयोग होने वाली टिप्पणियाँ (Notings) – (5 टिप्पणियाँ) अंग्रेजी से हिंदी अनुवाद (5 marks)
6. कार्यालय में उपयोग होने वाली टिप्पणियाँ (Notings) – (5 टिप्पणियाँ) हिंदी से अंग्रेजी अनुवाद (5 marks)
7. छोटे-छोटे वाक्य (Sentences) – अंग्रेजी से हिंदी अनुवाद (5 marks)
8. छोटे-छोटे वाक्य (Sentences) – हिंदी से अंग्रेजी अनुवाद (5 marks)
Note: (Answers to be typed with the help of the keyboard. Candidates opting to type the answers in Hindi, may type with the help of either: (i) Inscript or (ii) Remington (GAIL) keyboards layout)

SEBI Grade A Engineering (Electrical) Stream Exam Pattern for Phase 2 Paper 2

Here are some of the highlights of SEBI Grade A Exam Pattern for Electrical Stream:

  • No of Questions – 50
  • Maximum Marks – 100
  • Duration – 40 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2Engineering (Electrical) Stream: MCQs on Specialized subject related to stream

SEBI Grade A Engineering (Civil) Stream Exam Pattern for Phase 2 Paper 2

Here are some of the highlights of SEBI Grade A Exam Pattern for Civil Stream:

  • No of Questions – 50
  • Maximum Marks – 100
  • Duration – 40 minutes
  • Cut Off – 40%
  • Weightage – 2/3rd
PaperStream/Subjects
Paper 2Engineering (Civil) Stream: MCQs on Specialized subject related to stream

Important Points:

  • Paper 2 will be conducted in various shifts for those who applied for multiple streams.
  • Negative Marking will be 1/4th for Paper 2 in Phase 2.
  • Question Papers will be in Hindi & English except for the English section.

Important Notes:

  • Separate Admit Cards: New hall tickets will be issued for Phase II; Paper 2 for multiple streams will be held in different shifts.
  • Negative Marking: Applicable only to MCQs in Paper 2; ¼ mark deducted for each wrong answer.
  • Cut-off Rules: Paper 1 – 30%, Paper 2 – 40%, and overall aggregate – 50% (with 1/3 weightage for Paper 1 and 2/3 for Paper 2).
  • Shortlisting for Interview (Phase III): Candidates meeting all cut-offs will be ranked by merit; up to 3 times the number of vacancies will be called for the interview.
  • Language of Papers: All papers, except English, will be bilingual (Hindi & English).

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FAQs

Q1. Is there any interview round in the SEBI Grade A Selection Process 2025?

Yes, the last stage of the selection process consists of an Interview round. Also note that the weightage of 15% of the interview marks will be considered for final selection.

Q2. What are the stages of the SEBI Grade A Exam?

There are three stages namely, Phase I Exam (2 papers of 100 marks each), Phase II Exam (2 papers of 100 marks each), and Interview.

Q3. Does the SEBI Grade A Exam have negative markings?

Yes, there will be negative marking of 1/4th in both papers of Phase 1 and (1/4th of marks assigned to the question) for Paper 2 in Phase 2.

Q4. Is SEBI Grade A Prelims Exam qualifying in nature?

Yes, the prelims will be qualifying in nature as only Phase 2 and Interview Marks will be considered for selection.

Q5. How many attempts are there for the SEBI Grade A 2025 Exam?

As of now, there are no limitations on number of attempts if the candidate fulfills the eligibility criteria. We will update you if something changes in the new notification.