IFSCA Grade A Selection Process 2024, Know About All Stages

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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

There might be some changes in the exam pattern but 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 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 (Multiple Choice questions 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.

    Note: Weightage of marks obtained in Phase II will be 85%, while marks obtained in interview shall be given a weightage of 15%.

Download IFSCA Grade A Study Plan PDF

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IFSCA Grade A NotificationIFSCA Grade A Application FormIFSCA Grade A Admit Card
IFSCA Grade A Exam DateIFSCA Grade A SalaryIFSCA Grade A Eligibility Criteria
IFSCA Grade A ResultIFSCA Grade A Syllabus & Exam PatternIFSCA Grade A Previous Year Papers

IFSCA Grade A Exam Pattern 2024

IFSCA Grade A Recruitment will be conducted in the following 3 phases-

  1. Phase 1: Online Exam (Preliminary)
  2. Phase 2: Online Exam (Mains)
  3. Phase 3: Interview

The following is the exam pattern for the online exams:

IFSCA Grade A Exam Pattern 2024 – Prelims

Check the pattern below in detail:

PaperStream/SubjectsMaximum MarksDurationCut Off
Paper 1Multiple choice questions:
(a) General Awareness (financial sector) –25 questions X 1 mark each
(b) English language –25 questions X 1 mark each
(c) Quantitative Aptitude –25 questions X 1 mark each
(d) Test of Reasoning-25 questions X 1 mark each
10060 minutes30%
Paper 2Multiple 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) 10060 minutes40%
Paper 2Legal Stream
Multiple choice questions on Specialized subject related to stream
10060 minutes40%
Aggregate Cut-Off   40%

Candidates would need to secure a separate cut-off in each paper as mentioned in (ii) above as well as aggregate cut-off marks of 40% in the Phase I exam to be shortlisted for Phase II. Marks obtained in Phase I shall be used only for shortlisting the candidates for the Phase II examination process and will not be counted for the final selection of the candidates.

For the complete preparation of IFSCA, we have come up with IFSCA Grade A Online Courses 2024 where we have covered everything that an aspirant needs, so do not forget to check it out.

IFSCA Grade A Exam Pattern 2024 – Mains

The mains exam pattern have been discussed in detail below:

PaperStreams/SubjectsMaximum MarksDurationCut OffWeightage
Paper 1English (Descriptive Test)(a) Precis Writing – 35 marks(b) Essay writing – 30 marks (c) Comprehension- 35 marks10060 minutes30%1/3rd
Paper 2Multiple 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) 10060 minutes40%2/3rd
Paper 2 Legal Stream
Multiple choice questions on Specialized subject related to stream
10060 minutes40%2/3rd
Aggregate Cut-Off   40% 
  1. Candidates would need to secure separate cut-offs in each paper as mentioned above 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.
  2. Subject to the criteria mentioned above, candidates equaling 3 times the number of vacancies shall be shortlisted, in order of merit, for Phase III i.e. the Interview. A list of candidates shortlisted for Interviews will be made available on the IFSCA website.
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IFSCA Grade A Study MaterialIFSCA Grade A Study PlanIFSCA Grade A Exam Analysis

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IFSCA Grade A Selection Process 2024 -FAQs

Q1. How many stages are there in IFSCA Grade A Exam?

There are 3 stages namely Phase 1, Phase 2 & Interview.

Q2. Does the IFSCA Grade A Exam have negative markings?

Yes, there will be negative marking in both the papers of Phase 1 & paper 2 of Phase 2.

Q3. How much weightage does Phase 2 have in the final selection?

In the final selection, 85% weightage will be given to Phase 2.

Q4. What will be the weightage of Interview in the final IFSCA Grade A Selection Process?

In the final process, the 15% weightage will be given to the Interview.

Q5. Will both the phases exam be online?

Yes, both phases will have online written exams.


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