IFSCA Grade A Selection Process
To get finally selected at the post of Assistant Manager/ Grade A Officer, all the aspirants will have to go through IFSCA Grade A Selection Process. The selection process for IFSCA Grade A Officer is the same as for the other organizations such as SEBI, NABARD, etc. There will be three stages, Phase 1, Phase 2 & Phase 3. Know the detailed IFSCA Grade A Selection Process in the subsections below.
IFSCA Grade A Selection Process 2024
The selection process remains the same every year. Below are the stages which every aspirant has to pass through in order to clear the IFSCA Grade A Exam. These stages are:
- Phase 1 (Prelims Exam)
- Phase 2 (Mains Exam)
- Phase 3 (Interview)
IFSCA Grade A Selection Process 2024 – Detailed Process
IFSCA Grade A Exam is a three tier process where first two stages are online written exams and the third stage is the Interview. Check out the detailed IFSCA Grade A Selection Process below:
- Phase 1 (Prelims) : The phase 1 exam is an online screening examination consisting of two papers (MCQs of 100 marks each). There shall be negative marking (1/4th of marks assigned to the question) for the Paper 1 and Paper 2 in Phase I. 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.
- Phase 2 (Mains) : The phase 2 exam is an online examination consisting of two papers of 100 marks each. There shall be negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II. 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.
- Phase 3 (Interview) : Only the shortlisted candidates (who will clear phase 2 exam) will be called for interview. Also note that application fee shall not be refunded to any candidate who is not shortlisted for Phase II and Interview.
Download IFSCA Grade A Study Plan PDF
IFSCA Grade A Exam Pattern 2024
IFSCA Grade A Recruitment will be conducted in the following 3 phases-
- Phase 1: Online Exam (Preliminary)
- Phase 2: Online Exam (Mains)
- Phase 3: Interview
Check out the exam pattern for both online exams i.e. Phase 1 & Phase 2:
IFSCA Grade A Exam Pattern 2024 – Phase 1
The Phase 1 exam is divided into two papers where paper 1 will be common for all the streams and paper 2 will be specific to the streams. Check the IFSCA Grade A Phase 1 detailed pattern below:
Papers | Subjects |
Paper I (Common for both the streams) | MCQs GA (financial sector) English language Quantitative Aptitude Test of Reasoning- |
Paper II | General Stream MCQs on General knowledge, Current events of national and international importance, Economic & social development (sustainable development, poverty, inclusion, and demographics), Commerce, Accountancy, Management, Finance & costing, Indian Economy, Global Economy, 5 year plans, Central Govt’s initiatives/ Schemes in the financial sector. Legal Stream MCQs on Specialized subject related to stream |
- There shall be negative marking (1/4th of marks assigned to the question) for Paper 1 and Paper 2 in Phase I.
- There shall be a cut off of a minimum of 30% for Paper 1 (no sectional cut off shall be there) and a cut off of a minimum of 40% for Paper 2 in Phase I.
- For both papers, the maximum marks are 100 marks each.
- The duration for both the papers is 60 minutes each.
- The aggregate cut off percentage for both Paper 1 & 2 is 40%.
- In Paper 1, for each section 25 questions are asked for 1 marks each.
- For Paper 2 of General Stream, 50 questions are asked for 2 marks each.
- Marks obtained in Phase I shall be used only for shortlisting the candidates for the Phase II exam.
IFSCA Grade A Exam Pattern 2024 – Phase 2
IFSCA Grade A Phase 2 Exam Pattern is divided into two papers where Paper 1 will be of English and it will be descriptive in nature. Paper 2 will be MCQ relevant to the stream. The phase 2 exam pattern have been discussed in detail below:
Papers | Subjects |
Paper I (Common for both streams) | English (Descriptive Test) Precis Writing – 35 marks Essay writing – 30 marks Comprehension- 35 marks |
Paper II | General Stream MCQs 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) Legal Stream MCQs on Specialized subject related to stream |
- There shall be a negative marking (1/4th of marks assigned to the question) for Paper 2 in Phase II.
- Candidates would need to secure separate cut offs in each paper as mentioned and aggregate cut off marks of 40% in the Phase II exam (weightage of 1/3rd for Paper 1 and 2/3rd for Paper 2) to be shortlisted for Phase III.
- The duration for both the papers is 60 minutes each.
- The maximum marks are 100 marks each for both Paper 1 & Paper 2.
- Candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview.
Download IFSCA Grade A PYQ PDF
IFSCA Grade A Interview 2024
Only the 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 will have the weightage of 15%.
IFSCA Grade A Selection Process 2024 -FAQs
There are 3 stages namely Phase 1, Phase 2 & Interview.
Yes, there will be negative marking in both the papers of Phase 1 & paper 2 of Phase 2.
In the final selection, 85% weightage will be given to Phase 2.
In the final process, the 15% weightage will be given to the Interview.
Yes, both phases will have online written exams.
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