The IFSCA Grade A 2026 exam is conducted by the International Financial Services Centres Authority to recruit Assistant Managers in different streams such as General, Legal, and Information Technology (IT). The selection process is held in 3 stages: Phase 1 (Screening Test), Phase 2 (Main Examination), and Phase 3 (Interview). These stages are designed to test candidates on basic aptitude, English language skills, and subject-specific knowledge related to the financial sector.
To prepare well, it is important to clearly understand the exam pattern, marks distribution, phase-wise structure, and cut-off trends. In this blog, we explain the complete exam pattern, including Phase 1 and Phase 2 patterns for the General and other streams in a simple and easy-to-understand way.
What is the IFSCA Grade A 2026 exam pattern?
The IFSCA Grade A recruitment 2026 is conducted in three stages to select candidates for the post of Assistant Manager. The first two stages are online exams, designed to test both general aptitude and specialized knowledge in streams like General, Legal, and Information Technology (IT). Phase I is a screening test to shortlist candidates for the main exam. Phase II is the mains exam, which assesses in-depth subject knowledge and English language skills. Candidates who clear Phase II are called for Phase III, the interview, which carries 15% weightage in the final selection. Marks from Phase II contribute 85% to the final score, while IT stream candidates must also clear a coding test before the interview.
| Stage | Details |
|---|
| Phase 1 (Screening) | • Two papers (100 marks each, 60 minutes each)
• Paper 1: Reasoning, Quantitative Aptitude, English, General Awareness
• Paper 2: Stream-specific (Financial Sector / Legal / IT)
• Purpose: Shortlisting only
• Negative marking: 1/4th applies |
| Phase 2 (Mains) | • Two papers (100 marks each, 60 minutes each)
• Paper 1: Descriptive English (Essay, Precis, Comprehension)
• Paper 2: Advanced stream-specific topics (Finance, Economy, IFSCA operations, etc.)
• Cut-off: 40% aggregate
• Weightage: Paper 1 = 1/3rd, Paper 2 = 2/3rd
• Negative marking in Paper 2 only
• Paper 1 evaluated only if Paper 2 is cleared |
| Phase 3 (Interview) | • Candidates shortlisted after Phase II
• Final weightage: Phase II = 85%, Interview = 15%
• IT stream: Coding test required before interview
• Interview language: Hindi or English |
| Other Important Points | • All papers except English are bilingual (Hindi & English)
• Application fee is non-refundable for non-shortlisted candidates
• IFSCA may offer post to next candidate if selected candidate does not join
• No obligation to fill all vacancies |
Attempt IFSCA Grade A Mock Test
What is the selection process for IFSCA Grade A 2026?
The selection process for IFSCA Grade A is a three-stage recruitment system that evaluates candidates through written exams and an interview. The first phase is a screening test, which shortlists candidates for the main exam. Phase II is the main examination where marks contribute to the final score, and Phase III is the interview, carrying 15% weightage. Candidates in the IT stream must also clear a coding test before the interview.
| Phase | Type | Purpose | Weightage / Notes |
|---|
| Phase I | On-line Screening Exam | Shortlists candidates for Phase II; marks not counted for final selection | Two papers, 100 marks each; negative marking 1/4th; aggregate cut-off 40% |
| Phase II | On-line Main Exam | Marks contribute to final selection | Two papers, 100 marks each; Paper 1 (Descriptive English) – 1/3rd weightage, Paper 2 (Stream-specific MCQs) – 2/3rd weightage; aggregate cut-off 40% |
| Phase III | Interview | Final selection based on Phase II + Interview marks | 15% weightage; language choice: Hindi or English; IT stream must clear coding test |
What is the IFSCA Grade A phase 1 exam pattern?
The Phase 1 exam is an online screening test with two papers, each carrying 100 marks. Paper 1 is common for all candidates and includes General Awareness, Reasoning, Quantitative Aptitude, and English. Paper 2 is based on the candidate's chosen stream, such as Legal, Information Technology (IT), or General Finance. The marks obtained in this phase are used only for shortlisting candidates for the next stage. To qualify, candidates must clear separate cut-offs in both papers as well as an overall aggregate cut-off of 40%.
| Paper | Stream / Subjects | Questions | Marks | Duration | Cut-off | Notes |
|---|
| Paper 1 | All streams | General Awareness (25), English (25), Quantitative Aptitude (25), Reasoning (25) | 100 | 60 mins | 30% | Negative marking: 1/4th |
| Paper 2 | Legal / IT | Stream-specific subject, 50 MCQs × 2 marks each | 100 | 60 mins | 40% | Refer annexure for syllabus; negative marking 1/4th |
| Paper 2 | General | General knowledge, economy, finance, banking, schemes, GIFT IFSC, five-year plans, global financial centres (50 MCQs × 2 marks) | 100 | 60 mins | 40% | Negative marking: 1/4th |
| Aggregate | - | - | 200 | - | 40% | Marks only for shortlisting Phase II |
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What is the IFSCA Grade A phase 2 exam pattern?
The IFSCA Grade A phase 2 is the main online examination where marks are counted towards final selection. It has two papers of 100 marks each: Paper 1 is common for all streams and is descriptive (English), while Paper 2 is stream-specific, covering specialized subjects in Legal, IT, or General streams. Separate cut-offs apply, and Paper 1 is evaluated only if the candidate qualifies Paper 2.
| Paper | Stream / Subjects | Questions / Sections | Marks | Duration | Cut-off | Weightage | Notes |
|---|
| Paper 1 | All streams | Descriptive English: Precis – 35, Essay – 30, Comprehension – 35 | 100 | 60 mins | 30% | 1/3rd | Evaluated only if Paper 2 qualified |
| Paper 2 | Legal / IT | Stream-specific MCQs: 50 questions × 2 marks each | 100 | 60 mins | 40% | 2/3rd | Negative marking: 1/4th |
| Paper 2 | General | MCQs: IFSCA Act, Union Budget, Economic Survey, Banking, Capital Market, Insurance, Pension Funds, Bullion, GIFT City / IFSC, Global Financial Centres, etc. | 100 | 60 mins | 40% | 2/3rd | Negative marking: 1/4th |
| Aggregate | All streams | - | 200 | - | 40% | - | Final cut-off decided by Competent Authority |
Check: IFSCA Grade A Syllabus
What is the IFSCA Grade A phase 3 interview process?
The Phase 3 of the IFSCA Grade A selection process is the interview round, which is conducted only for candidates who clear Phase 2. This interview carries 15% weightage in the final selection, while Phase 2 carries 85% weightage. Candidates can attend the interview in either Hindi or English, based on their preference. For the IT stream, candidates must also clear a coding test before becoming eligible for the interview. IFSCA also has the right to change the selection process if required and to make final job offers based on merit and the number of available vacancies.
| Parameter | Details |
|---|
| Eligible Candidates | Only those shortlisted after Phase 2 |
| Weightage | Phase 2 – 85%, Interview – 15% |
| Language | Hindi or English |
| IT Stream | Must clear coding test before interview |
| Final Selection | Based on total marks of Phase 2 + Phase 3 |
| Notes | IFSCA may offer the post to next candidate if selected candidate does not join; no obligation to fill the post |
Solve IFSCA Grade A Previous Year Papers
What is included in the IFSCA Grade A Phase 1 and Phase 2 syllabus?
The IFSCA Grade A exam syllabus is structured across Phase 1 and Phase 2, with common aptitude subjects and stream-specific professional knowledge. It tests candidates on basic aptitude, general awareness, and in-depth understanding of finance, law, or technology relevant to the Assistant Manager role.
| Phase | Paper | Subjects Covered |
|---|
| Phase 1 | Paper 1 | English Language, Quantitative Aptitude, Reasoning Ability, General Awareness |
| Paper 2 (General Stream) | Economic & Social Development, Commerce & Accountancy, Management, Finance, Costing, Indian & Global Economy, Government Schemes |
| Paper 2 (Legal Stream) | Constitution of India, Contract Laws, CPC, TPA, Arbitration, Administrative Law, Torts, SEZ Act, IFSCA-related laws |
| Phase 1 & 2 | Paper 2 (IT Stream) | Databases, SQL, Programming (Java/C/C++), Python/R, Algorithms, Networking, Cyber Security, AI & ML |
| Phase 2 | Paper 2 (General Stream) | IFSCA & IFSC framework, Banking, Capital Markets, Insurance, Pension Sector, Union Budget & Economic Survey |
| Paper 2 (Legal Stream) | Criminal Laws, Evidence, Corporate & Trust Laws, IFSCA and Financial Regulatory Laws |
Key Takeaways
| Key Aspect | Details |
|---|
| Exam Purpose | To recruit Assistant Managers across General, Legal, and IT streams in IFSCA |
| Selection Stages | Three stages: Phase 1 (Screening), Phase 2 (Mains), Phase 3 (Interview) |
| Phase I (Preliminary / Screening) | Two papers of 100 marks each, 60 mins per paper; Paper 1 – Reasoning, Quantitative Aptitude, English, General Awareness; Paper 2 – Stream-specific topics; Negative marking 1/4th; Marks used only for shortlisting; Aggregate cut-off 40% |
| Phase II (Mains Exam) | Two papers of 100 marks each, 60 mins per paper; Paper 1 – Descriptive English (Essay, Precis, Comprehension), Paper 2 – Stream-specific MCQs; Paper 1 weightage 1/3, Paper 2 2/3; Aggregate cut-off 40%; Paper 1 evaluated only if Paper 2 cleared; Negative marking in Paper 2 |
| Phase III (Interview) | For candidates qualifying Phase II; Weightage 15% in final selection (Phase 2 – 85%); IT stream candidates must clear coding test; Language – Hindi or English |
| Final Selection | Based on combined marks of Phase 2 and Interview; IFSCA may offer post to next candidate if selected candidate does not join; No obligation to fill vacancy |
| Language of Exam | All papers except English are bilingual (Hindi & English) |
| Application Fee | Non-refundable for candidates not shortlisted |
| Negative Marking | 1/4th of marks assigned for wrong answers in Phase 1 papers and Phase 2 Paper 2 |
| Cut-offs | Phase 1 – Paper 1: 30%, Paper 2: 40%, Aggregate: 40%; Phase 2 – Paper 1: 30%, Paper 2: 40%, Aggregate: 40% |
| Streams Covered | General, Legal, IT |
